PHILADELPHIA, March 12, 2024 /PRNewswire/ -- Berger Montague announces that a class action lawsuit was filed in the U.S. District Court for the District of Nevada on behalf of those who acquired BioVie Inc. ("BioVie" or the "Company") (NASDAQ: BIVI) securities.

If you suffered losses as a result of your investment in BioVie (NASDAQ: BIVI) and would like to learn about a potential recovery, CLICK HERE.

The lawsuit has been filed against BioVie on behalf of purchasers of BioVie's securities between August 5, 2021 and November 29, 2023, inclusive (the "Class Period").

The deadline for investors who purchased or acquired BioVie securities during the Class Period to seek to be appointed as a lead plaintiff representative of the class is March 19, 2024.

On November 29, 2023, BioVie, Inc. issued a press release accompanying an investor presentation disclosing top line data from its clinical trial of NE3107 for the treatment of mild to moderate Alzheimer's Disease. The press release stated that the trial started during the COVID-19 pandemic when access to clinical sites was limited and enrolled a total of 439 patients through 39 sites. Upon trial completion, the Company found significant deviation from protocol and Good Clinical Practice (GCP) violations at 15 sites. This highly unusual level of suspected improprieties led the Company to exclude all patients from these sites and to refer them to the U.S. Food and Drug Administration (FDA) Office of Scientific Investigations (OSI) for further action.

On a conference call that same day, the defendants announced that the Phase 3 clinical trial did not achieve statistical significance due to the number of patients being excluded from the trial that the Company believed engaged in improper practices.

On November 29, 2023, the Company's share price fell $3.03 per share, or more than 60%, to close at $1.96 per share, on unusually high trading volume.

For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015 or CLICK HERE.

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
jmaro@bm.net

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net

Cision View original content:https://www.prnewswire.com/news-releases/biovie-inc-class-action-deadline-approaching-berger-montague-advises-investors-to-inquire-about-a-securities-fraud-class-action-by-march-19-2024-302086746.html

SOURCE Berger Montague