The effective shelf puts immediate dilution risk on the table. Monitor for a prospectus supplement announcing a takedown (e.g., registered direct offering, ATM program). Given the small float and weak historical price response to filings, any offering announcement could pressure the stock. Traders should watch for overnight filings of a prospectus supplement.
Price Chart
Executive Summary
BioVie Inc.'s S-3 shelf registration statement (File No. 333-296924) became effective on June 29, 2026, allowing the company to offer up to $300 million in securities. As a smaller reporting company with a non-affiliate market value of ~$12.5 million, primary offerings are limited to ~$4.17 million per 12-month period under General Instruction I.B.6. The effectiveness introduces a tangible dilution overhang for this $15 million market cap clinical-stage biotech.
Key Facts
- S-3 shelf registration effective June 29, 2026, for up to $300,000,000 in securities (common stock, preferred, warrants, debt, rights, units).
- Non-affiliate public float was ~$12.5 million as of June 8, 2026, capping primary common stock offerings at ~$4.17 million (one-third of float) per 12 months under I.B.6.
- Stock closed at $1.66 on June 11, 2026; market cap ~$15 million.
- Company is a clinical-stage pharmaceutical preparation firm with no approved products.
Financial Impact
Potential primary offering of up to ~$4.17 million (one-third of non-affiliate market value) represents ~28% dilution relative to current $15M market cap. Additional securities (warrants, debt) could further dilute or add leverage.
Risk Factors
- Imminent equity offering could dilute existing shareholders by ~25% or more.
- Clinical-stage biotech with no revenue; shelf may be used to fund operations, signaling cash burn concerns.
- Low liquidity and small market cap amplify price impact of any offering.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (Primary) | 9999999995-26-002154 |
| Document: 9999999995-26-002154-index.html | 9999999995-26-002154 |
| Document: 9999999995-26-002154.txt | 9999999995-26-002154 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | Press Release | $1.37 | awaiting T+20 | — | $1.42 (+4.01%) |
Sep 15, 2026 6w ago | Press Release | $1.75 $1.20 | ▼ −31.43% | ▼ −34.41% | $1.42 (−18.57%) |
Aug 14, 2026 10w ago | S-1/A | $1.17 $1.75 | ▼ −49.57% | ▼ −51.55% | $1.42 (−21.79%) |
Aug 6, 2026 11w ago | S-1/A | $1.35 $2.03 | ▼ −50.37% | ▼ −49.77% | $1.42 (−5.56%) |
Aug 6, 2026 11w ago | 8-K | $1.35 $2.03 | ▲ +50.37% | ▲ +49.77% | $1.42 (+5.56%) |
Jul 31, 2026 12w ago | S-1/A | $1.62 $2.28 | ▼ −40.74% | ▼ −39.50% | $1.42 (+12.04%) |
Jun 30, 2026 17w ago | EFFECT | $1.94 $1.37 | ▲ +29.38% | ▲ +28.35% | $1.42 (+26.55%) |
Apr 27, 2026 26w ago | Press Release | $1.59 $1.44 | ▼ −9.43% | ▼ −14.39% | $1.42 (−10.38%) |
Apr 14, 2026 28w ago | Press Release | $1.46 $1.35 | ▼ −7.53% | ▼ −13.83% | $1.42 (−2.40%) |
US Market Status
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