Detailed financial statements for BioVie Inc. (BIVI): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
BioVie Inc. is a clinical-stage biotechnology firm primarily dedicated to the discovery, development, and commercialization of innovative drug treatments across the United States. The company's developmental portfolio includes BIV201, a therapeutic agent that has successfully completed its Phase IIa clinical trial for addressing ascites resulting from chronic liver cirrhosis.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $1.72, BIVI has negative trailing earnings (P/E not meaningful) and an ROE of -126.02%. Market capitalisation stands at $13M.
Balance sheet quality for BIVI: current ratio of 3.6, net cash position of $8.70T. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $229377 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$229377 | 0 |
| Research & Development | $466354 | $370853 | $1.0M | $1.2M | $133.2M | $17.3M | $33.3M | $23.1M | $9.3M | $14.0M |
| Selling, General & Admin | $857883 | $1.8M | $1.3M | 0 | 0 | 0 | $11.6M | 0 | $8.6M | $8.5M |
| Operating Expenses | $1.6M | $2.4M | $2.5M | $2.7M | $138.1M | $27.3M | $45.1M | $32.2M | $17.8M | $22.7M |
| Operating Income | -$1.6M | -$2.4M | -$2.5M | -$2.7M | -$138.1M | -$27.3M | -$45.1M | -$32.2M | -$18.1M | -$22.7M |
| EBITDA | -$1.3M | -$2.1M | -$2.3M | -$2.5M | -$129.5M | -$23.7M | -$45.7M | -$29.0M | -$17.0M | -$21.9M |
| Interest Expense | 0 | $40960 | $273 | $4.8M | $559455 | $2.2M | $4.3M | $2.9M | $332720 | $17901 |
| Pre-tax Income | -$1.3M | -$2.4M | -$2.4M | -$16.7M | -$130.2M | -$26.1M | -$50.3M | -$32.1M | -$17.5M | -$22.1M |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$1.3M | -$2.4M | -$2.4M | -$16.7M | -$130.2M | -$26.1M | -$50.3M | -$32.1M | -$17.5M | -$22.1M |
| EPS | $-186.10 | $-317.70 | $-98.20 | $-685.20 | $-1482.30 | $-106.00 | $-154.70 | $-73.05 | $-12.12 | $-3.05 |
| EPS (Diluted) | $-186.10 | $-317.70 | $-98.20 | $-685.20 | $-1482.30 | $-106.00 | $-154.70 | $-73.05 | $-12.12 | $-3.05 |
| Shares Outstanding (Diluted) | $7151 | $7661 | $25396 | $49295 | $124031 | $246625 | $324834 | $451853 | $1.5M | $7.2M |
Balance Sheet (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5140 | $45800 | $339923 | $37195 | $4.5M | $18.6M | $19.5M | $23.8M | $17.5M | $8.98T |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | $14.5M | 0 | 0 | 0 |
| Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $2.1M | $2.2M |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $5140 | $45800 | $674073 | $412980 | $4.6M | $18.8M | $34.0M | $24.0M | $20.7M | $13.64T |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | $118254 | $80789 | $406726 | $339653 | $262.59B |
| Goodwill | $345711 | $345711 | $345711 | $345711 | $345711 | $345711 | $345711 | $345711 | $345711 | $345.71B |
| Intangible Assets | $2.0M | $1.8M | $1.6M | $1.3M | $1.1M | $866472 | $637095 | $407718 | $178341 | 0 |
| Total Assets | $2.4M | $2.2M | $2.6M | $2.1M | $6.0M | $20.1M | $35.1M | $25.2M | $21.6M | $14.25T |
| Accounts Payable | $470973 | $884207 | $443480 | $1.3M | $996374 | $2.4M | 0 | 0 | 0 | $3.7M |
| Short-term Debt | $35000 | 0 | 0 | $848543 | 0 | 0 | $9.1M | $5.7M | 0 | $91.01B |
| Total Current Liabilities | $630973 | $1.2M | $443480 | $23.5M | $996374 | $4.2M | $14.5M | $9.4M | $2.3M | $3.80T |
| Long-term Debt | $575918 | $825918 | 0 | $62500 | 0 | $12.1M | $5.2M | 0 | 0 | $184.42B |
| Total Liabilities | $1.2M | $2.1M | $443480 | $23.6M | $996374 | $16.4M | $19.8M | $9.7M | $2.6M | $3.98T |
| Retained Earnings | -$2.3M | -$4.8M | -$7.3M | -$41.0M | -$224.9M | -$251.0M | -$301.2M | -$334.2M | -$352.1M | -$374.26T |
| Total Equity | $1.2M | $111199 | $2.1M | -$21.5M | $5.1M | $3.7M | $15.3M | $15.5M | $19.0M | $10.27T |
| Total Debt | $35000 | $825918 | 0 | $911043 | 0 | $12.3M | $14.4M | $6.1M | $349894 | $275.43B |
| Net Debt | $29860 | $780118 | -$339923 | $873848 | -$4.5M | -$6.4M | -$19.5M | -$17.7M | -$17.2M | -$8.70T |
| Working Capital | -$625833 | -$1.2M | $230593 | -$23.1M | $3.6M | $14.6M | $19.5M | $14.7M | $18.4M | $9.85T |
Cash Flow (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$1.3M | -$2.4M | -$2.4M | -$16.7M | -$130.2M | -$26.1M | -$50.3M | -$32.1M | -$17.5M | -$22.07B |
| Depreciation & Amortization | $229377 | $229377 | $229377 | $229377 | $229377 | $229377 | $229377 | $229377 | $229377 | $178.3M |
| Stock-based Compensation | $92052 | $893484 | $64860 | $24846 | $3.0M | $6.2M | $6.4M | $4.7M | $2.5M | $2.87B |
| Change in Working Capital | $385628 | $642401 | -$451927 | $774091 | $19466 | $2.8M | -$270439 | -$86843 | -$4.4M | -$80.9M |
| Operating Cash Flow | -$623615 | -$621341 | -$2.5M | -$1.6M | -$10.5M | -$19.0M | -$40.3M | -$27.9M | -$19.0M | -$19.02B |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $4 | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | -$1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | -$48659 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$623615 | -$621341 | -$2.5M | -$1.6M | -$10.5M | -$19.0M | -$40.3M | -$27.9M | -$19.0M | -$19.02B |
Growth & Margins (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income Growth (YoY) | -81.3% | -1.3% | -582.4% | -681.0% | +80.0% | -92.7% | +36.1% | +45.4% | -25.8% | |
| EPS Growth (YoY) | -70.7% | +69.1% | -597.8% | -116.3% | +92.8% | -45.9% | +52.8% | +83.4% | +74.8% | |
| Shares Change (YoY) | +7.1% | +231.5% | +94.1% | +151.6% | +98.8% | +31.7% | +39.1% | +227.0% | +390.5% | |
| FCF Growth (YoY) | +0.4% | -302.6% | +34.9% | -542.0% | -81.7% | -112.0% | +30.6% | +31.9% | -99897.9% | |
| Effective Tax Rate | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-87.20 | $-81.11 | $-98.50 | $-33.03 | $-84.28 | $-77.00 | $-123.92 | $-61.85 | $-12.88 | $-2625.59 |
| Dividends Per Share | $0.00 | $0.00 | $1.92 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $7100 | $7500 | $24900 | $49295 | $124031 | $246625 | $324834 | $451853 | $1.5M | $7.2M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -126.02% |
| Return on Invested Capital | -214.80% |
| Return on Assets | -154.89% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.03 |
| Current Ratio | 3.59 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -21.39 |
Key Ratios (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -19.48 | -2.12 | -12.09 | -2.04 | -1.14 | -1.37 | -2.79 | -0.57 | -0.76 | -0.64 |
| P/B | 22.24 | 45.53 | 13.88 | -3.21 | 41.63 | 9.74 | 9.13 | 1.21 | 0.72 | 0.00 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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Explore sector: Healthcare · Biotechnology
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