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Why Is BioVie (BIVI) Stock Down 63% Today?

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  • BioVie (BIVI) stock is dropping on a failed clinical trial.
  • The company didn’t see statistical significance from its Alzheimer’s treatment.
  • That brings with it heavy trading of BIVI stock on Wednesday
BIVI Stock - Why Is BioVie (BIVI) Stock Down 63% Today?

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BioVie (NASDAQ:BIVI) stock is falling on Wednesday after the company released data from a Phase 3 clinical trial of its Alzheimer’s Disease treatment candidate NE3107.

Unfortunately for investors in BIVI stock, that study failed to meet its primary endpoint of statistical significance. The company attributes this to excluded sites due to the Covid-19 pandemic.

BioVie argues that patients taking NE3107 did see better performance compared to those in the placebo group. However, investors are celebrating without the statistical significance needed to mark the study as a success.

What’s Next for BIVI Stock?

Despite today’s clinical trial news, the company doesn’t appear ready to give up on NE3107 just yet. Here’s what company president and CEO Cuong Do said about its future plans:

“The adaptive trial design gives us the flexibility to continue patient enrollment in the advancement of this potentially important treatment for AD, and we look forward to discussing our findings of NE3107’s magnitude of therapeutic impact with our potential partners.”

BIVI stock is down 63.1% as of Wednesday morning as more than 5.8 million shares of the stock change hands. For comparison, its daily average trading volume is closer to 479,000 shares.

There’s more of the latest stock market news traders will want to read about below!

We have all of the hottest stock market news investors need to know about on Wednesday! That includes a stock market crash warning, as well as layoffs at Unity Software (NYSE:U) and U.S. Steel (NYSE:X). All of that news is available at the following links!

More Stock Market News for Wednesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/11/why-is-biovie-bivi-stock-down-63-today/.

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