Slides
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©2026 BioVie Inc. | 0 Topline Results from ADDRESS-LC Trial September 2026
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©2026 BioVie Inc. | 1 ©2026 BioVie Inc. | 1 This presentation contains statements about BioVie’s future expectations, plans, strategies and prospects which constitute forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. BioVie has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Forward-looking statements are subject to risks, uncertainties and assumptions that could cause BioVie’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are: BioVie’s ability to raise the substantial capital needed to fund its operations and research and development; risks associated with clinical development and BioVie’s ability to successfully complete pre-clinical and clinical testing and be granted regulatory approval for its products to be sold and marketed in the United States or elsewhere; BioVie’s reliance on third parties to conduct its clinical trials and manufacture its product candidates; BioVie’s ability to establish and/or maintain intellectual property rights covering its product candidates; competition; and other risks described in greater detail in BioVie’s filings with the Securities and Exchange Commission (the “SEC”). In addition to the risks described above and in BioVie’s filings with the SEC, other unknown or unpredictable factors also could affect BioVie’s results. No forward-looking statements can be guaranteed, and actual results may differ materially from such statements. You should not place undue reliance on any forward-looking statements. BioVie undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date that these slides are posted to BioVie’s website or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation. FORWARD-LOOKING STATEMENTS
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©2026 BioVie Inc. | 2 ©2026 BioVie Inc. | 2 BEZISTERIM Believed to block ERK/NFκB-mediated inflammatory signaling while preserving homeostatic function Small molecule; orally bioavailable Crosses blood-brain barrier No significant safety issues identified to date in pre‐clinical and clinical trials (up to Phase 3) First-in-class molecule with desirable characteristics Bezisterim Bezisterim Reduces ERK Activation Bezisterim Reduces NFkB Activation
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©2026 BioVie Inc. | 3 ©2026 BioVie Inc. | 3 WHY STUDY BEZISTERIM IN LONG COVID? ANTI-INFLAMMATORY MECHANISM • Inhibits TLR-4 and TNF-stimulated NFκB activation • Binds MAP kinases ERK1 and ERK2 ACTIVITY IN NEUROINFLAMMATION MODELS • MPTP-induced Parkinson's disease, glaucoma, optic neuritis, retinal uveitis, acute seizure CLINICAL SIGNALS THAT MAY TRANSLATE • Improved cognitive function in mild cognitive impairment and Alzheimer's disease • Improved fatigue and energy in Parkinson's disease TRANSLATIONAL LEARNING STUDY NEEDED • Test bezisterim in Long COVID for the first time
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©2026 BioVie Inc. | 4 ©2026 BioVie Inc. | 4 • Designed as a signal-finding and proof-of-concept trial – Identify efficacy signals: endpoints with favorable treatment benefits – Measure the magnitude of treatment impact – Identify patient subgroups most likely to benefit – Enable design and sizing of Phase 3 trial • Evaluated 22 clinical outcome measures • Collected blood samples to assess a series of biomarkers, including a proteomics battery evaluating 380 different proteins • The work is supported by the Assistant Secretary of War for Health Affairs and endorsed by the DoW by a fully funded award through the Peer-Reviewed Medical Research Program (PRMRP)* ADDRESS-LC PHASE 2 TRIAL * Opinions, interpretations, conclusions and recommendations are not necessarily endorsed by the Assistant Secretary of Defense for Health Affairs or the DoW
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©2026 BioVie Inc. | 5 ©2026 BioVie Inc. | 5 • Not all patients have all symptoms • Patients can have combination of 1, 2 or 3 of fatigue, post- exertional malaise and/or cognitive impairment symptoms KEY FINDINGS Long COVID patients fall into diverse, heterogeneous symptomatic subgroups Patients with severe baseline symptoms showed the strongest, statistically significant improvements; those without symptoms had little room to improve • Patients with high baseline fatigue showed statistically significant improvements vs. placebo on five different fatigue endpoints, along with positive trends in sleep and post-exertional malaise • Patients with high baseline post-exertional malaise improved on malaise and cognition • Patients with high baseline cognitive impairment improved on cognition Safety/tolerability profile similar to placebo • Minimizing side effect burden important given polypharmacy for Long COVID
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©2026 BioVie Inc. | 6 ©2026 BioVie Inc. | 6 Long COVID ≠ COVID LONG COVID IS A CHRONIC CONDITION An infection-associated chronic condition present for at least 3 months affecting one or more organ systems. 20% RESPIRATORY Dyspnea, cough, reduced exercise tolerance 20% GENERAL / FATIGUE Post-exertional malaise, unrefreshing sleep 18% PSYCHOLOGICAL Depression, anxiety, mood disturbance 16% NEUROLOGICAL Cognitive impairment, headache, dysautonomia Diagnosis is clinical and by exclusion. There are no confirmatory diagnostic tests. NASEM/HHS consensus definition (2024); Hou et al., Open Forum Infect Dis, 2025.
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©2026 BioVie Inc. | 7 ©2026 BioVie Inc. | 7 LARGE PATIENT POPULATION AND UNMET NEED 1 U.S. Department of Health and Human Services (https://www.hhs.gov/longcovid/index.html) 2 Bonuck et al. (2026). Communications Medicine (https://www.nature.com/articles/s43856-026-01516-7) 17-20 million US adults are estimated to suffer from Long COVID, a persistent multi- system illness following SARS-CoV-2 infection. No proven therapy No non-pharmacological or pharmacological therapy has been demonstrated efficacious for the treatment of Long COVID. A disabling symptom triad Fatigue, cognitive impairment (“brain fog”), and post- exertional malaise often co-occur and are linked to a chronic inflammatory state. 17-20M US adults estimated to be living with Long COVID1 3.8M US adults whose Long COVID is disabling 2 ME/CFS incidence is up 15× since the pandemic.
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©2026 BioVie Inc. | 8 ©2026 BioVie Inc. | 8 THE CHALLENGE IS NOT EFFICACY ALONE – IT IS KNOWING WHO BENEFITS THE CENTRAL DEVELOPMENT CHALLENGE Not only to demonstrate efficacy, but to determine which patients benefit – and why. 01 HETEROGENEOUS SYNDROME Long COVID is not a single disease entity, but a heterogeneous syndrome with overlapping clinical phenotypes and biological endotypes. 02 NO VALIDATED BIOMARKERS The absence of validated diagnostic and predictive biomarkers limits patient selection and prospective identification of treatment responders. 03 BACKGROUND VARIABILITY Concomitant off-label medications and supplements introduce substantial background- treatment variability. 04 POLYPHARMACY SAFETY Most patients prescribed multiple medications. Any new treatments should not add to side effect burden.
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©2026 BioVie Inc. | 9 ©2026 BioVie Inc. | 9 CLINICAL ENDPOINTS Explored a series of cognitive and fatigue endpoints and biomarkers CGIS Clinician Global Impression Severity CGIC Clinician Global Impression of Change PGIS Patient Global Impression Severity PGIC Patient Global Impression of Change PGIS-Fatigue Patient Global Impression Severity Fatigue PGIC-Fatigue Patient Global Impression Change Fatigue PGIS-Think Patient Global Impression Severity Think Clearly PGIC-Think Patient Global Impression Change Think Clearly PROMIS Fatigue Patient Reported Fatigue Symptoms PROMIS Cog Patient Reported Perceived Cognition PROMIS Sleep Patient Reported Sleep Disturbance SF12-PCS Physical Component Score of SF12 SF12-MCS Mental Component Score of SF12 DSQ Total Patient Reported Total DSQ-PEM Patient Reported Post-exertional malaise Cogstate Global Global Cognition score Cogstate Detection S.D Cognitive Test for Detection & Psychomotor Cogstate Ident-Attent. Cognitive Test for Identification & Attention Cogstate Proc Speed Cognitive Test for Processing Speed Cogstate Verbal Learn Cognitive Test for Verbal Learning Cogstate Verbal Mem Cognitive Test for Verbal Memory Cogstate Sust attention Cognitive Test for Sustained Attention
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©2026 BioVie Inc. | 10 ©2026 BioVie Inc. | 10 HOW TO READ THE NUMBERS Two yardsticks used throughout: effect size (how big) and the p-value (how sure) Cohen’s d — how big is the effect? d ≈ 0.2 small d ≈ 0.5 medium Positive value Treatment improvement p-value — how sure are we? Smaller p = less likely to be coincidental p < 0.05 is the conventional bar for statistical significance d ≈ 0.8 large
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©2026 BioVie Inc. | 11 ©2026 BioVie Inc. | 11 Characteristic Bezisterim Placebo Age, years (mean ± SD) 47.6 ± 10.6 49.2 ± 12.9 Sex, Male / Female (n) 24 / 77 46 / 56 Clinician Global Impression – Severity 3.3 ± 0.7 3.3 ± 0.7 Cogstate detection / psychomotor 0.04 ± 0.92 -0.04 ± 1.07 Cogstate global cognition 0.06 ± 0.94 -0.05 ± 1.06 Cogstate identification / attention 0.01 ± 1.05 -0.01 ± 0.95 Cogstate verbal learning 0.09 ± 0.99 -0.09 ± 1.01 Cogstate verbal memory 0.03 ± 0.96 -0.03 ± 1.04 Cogstate processing speed 0.11 ± 1.00 -0.11 ± 1.00 Cogstate sustained attention -0.02 ± 0.93 0.01 ± 1.07 DSQ-PEM case definition met 91/101 (90.1%) 94/102 (92.2%) DSQ-PEM total (0–100) 57.4 ± 21.5 54.3 ± 22.1 Patient Global Impression – Severity: fatigue 3.7 ± 0.8 3.5 ± 0.8 Patient Global Impression – Severity: overall 3.6 ± 0.7 3.6 ± 0.8 Patient Global Impression – Severity: think clearly 3.8 ± 0.9 3.8 ± 0.9 PROMIS cognitive function 32.3 ± 6.3 33.4 ± 5.6 PROMIS fatigue 65.4 ± 6.0 64.0 ± 6.3 PROMIS sleep disturbance 57.0 ± 6.3 57.2 ± 7.6 SF-12 mental component 44.2 ± 9.4 43.1 ± 9.5 SF-12 physical component 33.0 ± 10.2 34.5 ± 10.4 BASELINE CHARACTERISTICS Treatment and placebo arms appear balanced at baseline
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©2026 BioVie Inc. | 12 ©2026 BioVie Inc. | 12 BASELINE SYMPTOMATIC DIFFERENCES AMONG PATIENTS ~78% of patients symptomatic with ≥ 1 severity criterion (N=159 / 203 total trial population) 27 (13.3%) 3 (1.5%) 35 (17.2%) 31 (15.3%) 25 (12.3%) 9 (4.4%) 29 (14.3%) High Fatigue (N=112, 55.2%) (PROMIS Fatigue ≥ median score of 65.0) High Post-Exertional Malaise (N=72, 35.5%) (DSQ-PEM ≥ top tertile score of 67.5) High Objective Cognitive Impairment* (N=98, 48.3%) (Cogstate Global Baseline Z ≤ median score of -0.108) * Objective cognition is conducted using an iPad that gives patients tasks to complete and measure the person’s actual cognitiv e performance. Low on all 3 Symptoms Total N = 203 44 (21.7%)
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©2026 BioVie Inc. | 13 ©2026 BioVie Inc. | 13 • Complicates overall signal detection and increases variance, making true treatment effects harder to discern. • Necessitates focusing on patients with the most severe symptoms, where meaningful change can rise above background noise. • Underscores the importance of identifying sub-groups most likely to benefit from treatment MULTIPLE LEVELS OF SYMPTOM SEVERITY REQUIRES A FOCUS ON THOSE WITH MOST SYMPTOMATIC NEED Heterogeneity in the Long COVID population is driven by wide variation in symptoms and severity levels
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©2026 BioVie Inc. | 14 ©2026 BioVie Inc. | 14 PATIENTS TREATED WITH BEZISTERIM EXPERIENCED AN ADVANTAGE ON VIRTUALLY ALL ENDPOINTS Bezisterim’s impact on ITT population (n=203) – Highly unlikely to occur by chance -0.3 -0.2 -0.1 0.0 0.1 0.2 0.3 0.4 0.5 Cogstate Verbal Learning (p=0.0760) Patient Global Impression – Severity: Fatigue (p=0.1422) Cogstate Global Cognition (p=0.2196) Clinician Global Impression – Change (p=0.2314) Patient Global Impression – Change: Fatigue (p=0.2479) PROMIS Fatigue (p=0.2686) Cogstate Verbal Memory (p=0.2842) PROMIS Sleep Disturbance (p=0.2885) DSQ-PEM Total (p=0.4115) SF-12 Physical Component (p=0.4177) DSQ-PEM (Post Exertional Malaise) (p=0.4632) Patient Global Impression – Change: Overall (p=0.4744) PROMIS Cognitive Function (p=0.4867) Patient Global Impression – Severity: Overall (p=0.5023) Cogstate Sustained Attention (p=0.5638) Patient Global Impression – Change: Think Clearly (p=0.6220) SF-12 Mental Component (p=0.6934) Cogstate Processing Speed (p=0.7637) Cogstate Identification / Attention (p=0.8118) Patient Global Impression – Severity: Think Clearly (p=0.8203) Cogstate Detection / Psychomotor (p=0.9480) Favors bezisterim treatment Cohen’s d
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©2026 BioVie Inc. | 15 ©2026 BioVie Inc. | 15 HIGHER BASELINE FATIGUE ASSOCIATED WITH GREATER IMPROVEMENTS WITH BEZISTERIM -2.3 -6.3 -8.3 -9.5 -3.1 -5.7 -5.0 -5.9 -10 -8 -6 -4 -2 0 Quartile 1 Quartile 2 Quartile 3 Quartile 4 Bezisterim (n=101) Placebo (n=102) Baseline PROMIS Fatigue PROMIS Fatigue (CFB) Improvement p=0.0178 Increasing Fatigue Severity at Baseline
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©2026 BioVie Inc. | 16 ©2026 BioVie Inc. | 16 HIGH SYMPTOMATIC BURDEN AT BASELINE ASSOCIATED WITH STATISTICALLY SIGNIFICANT IMPROVEMENTS -0.1 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 Patient Global Impression – Severity: Fatigue (p=0.0185) PROMIS Fatigue (p=0.0224) Patient Global Impression – Change: Fatigue (p=0.0291) Clinician Global Impression – Change (p=0.0355) Patient Global Impression – Change: Overall (p=0.0436) DSQ-PEM (Post Exertional Malaise) (p=0.0511) Patient Global Impression – Severity: Overall (p=0.0948) Cogstate Global Cognition (p=0.0116) Cogstate Processing Speed (p=0.0124) Clinician Global Impression – Change (p=0.0136) Patient Global Impression – Change: Overall (p=0.0238) DSQ-PEM (Post Exertional Malaise) (p=0.0267) Cogstate Identification / Attention (p=0.0370) Patient Global Impression – Change: Fatigue (p=0.0388) Cogstate Detection / Psychomotor (p=0.0597) Cogstate Sustained Attention (p=0.0724) Patient Global Impression – Severity: Fatigue (p=0.0892) Patient Global Impression – Change: Think Clearly (p=0.0979) Cogstate Verbal Learning (p=0.0040) Cogstate Global Cognition (p=0.0101) Cogstate Verbal Memory (p=0.0247) Cogstate Processing Speed (p=0.0399) Patient Global Impression – Change: Fatigue (p=0.0887) PROMIS Sleep Disturbance (p=0.0920) Cohen’s d Favors bezisterim treatment High FatigueHigh Post-Exertional Malaise High Cognitive Impairment (Objective)
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©2026 BioVie Inc. | 17 ©2026 BioVie Inc. | 17 HIGH FATIGUE BEZISTERIM-TREATED PATIENTS EXPERIENCED STATISTICALLY SIGNIFICANT ADVANTAGE ON 5 ENDPOINTS; TRENDING ON 3 OTHERS Bezisterim’s impact on high fatigue subgroup (PROMIS Fatigue ≥ 65.0; n=112) -0.4 -0.3 -0.2 -0.1 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 Patient Global Impression – Severity: Fatigue (p=0.0185) PROMIS Fatigue (p=0.0224) Patient Global Impression – Change: Fatigue (p=0.0291) Clinician Global Impression – Change (p=0.0355) DSQ-PEM (Post Exertional Malaise) (p=0.0511) PROMIS Sleep Disturbance (p=0.0920) Patient Global Impression – Severity: Overall (p=0.0948) Cogstate Identification / Attention (p=0.1093) Patient Global Impression – Change: Think Clearly (p=0.2053) SF-12 Physical Component (p=0.2053) Cogstate Verbal Learning (p=0.2355) Cogstate Global Cognition (p=0.2434) DSQ Total (p=0.3227) PROMIS Cgnitive Function (p=0.3874) SF-12 Mental Component (p=0.3929) Cogstate Sustained Attention (p=0.5018) Patient Global Impression – Severity: Think Clearly (p=0.5580) Cogstate Processing Sspeed (p=0.6954) Cogstate Detection / Psychomotor (p=0.7213) Cogstate Verbal Memory (p=0.9553) Patient Global Impression – Change: Overall (p=0.0436) Cohen’s d Favors bezisterim treatment
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©2026 BioVie Inc. | 18 ©2026 BioVie Inc. | 18 HIGH MALAISE BEZISTERIM-TREATED PATIENTS EXPERIENCED STATISTICALLY SIGNIFICANT ADVANTAGE ON 7 ENDPOINTS; TRENDING ON 4 OTHERS Bezisterim’s impact on high malaise subgroup (DSQ-PEM≥ 67.5; n=72) -0.7 -0.6 -0.5 -0.4 -0.3 -0.2 -0.1 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 Cogstate Global Cognition (p=0.0116) Cogstate Sustained Attention (p=0.0724) Patient Global Impression – Severity: Fatigue (p=0.0892) Patient Global Impression – Change: Think Clearly (p=0.0979) DSQ-PEM Total (p=0.1088) PROMIS Fatigue (p=0.1190) Cogstate Verbal Learning (p=0.1261) PROMIS Cognitive Function (p=0.1378) PROMIS Sleep Disturbance (p=0.1382) Patient Global Impression – Severity: Think Clearly (p=0.1723) SF-12 Mental Component (p=0.2550) Patient Global Impression – Severity: Overall (p=0.2779) SF-12 Physical Component (p=0.3493) Cogstate Verbal Memory (p=0.4396) Patient Global Impression – Change: Fatigue (p=0.0388) Cogstate Identification / Attention (p=0.0370) DSQ-PEM (Post Exertional Malaise) (p=0.0267) Patient Global Impression – Change: Overall (p=0.0238) Clinician Global Impression – Change (p=0.0136) Cogstate Processing Speed (p=0.0124) Cogstate Detection / Psychomotor (p=0.0597) Cohen’s d Favors bezisterim treatment
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©2026 BioVie Inc. | 19 ©2026 BioVie Inc. | 19 HIGH COGNITIVE IMPAIRED BEZISTERIM-TREATED PATIENTS EXPERIENCED STATISTICALLY SIGNIFICANT ADVANTAGE ON 4 ENDPOINTS; TRENDING ON 1 Bezisterim’s impact on high cognitive impairment subgroup (Cogstate Global≤0.130; n=98) -0.8 -0.7 -0.6 -0.5 -0.4 -0.3 -0.2 -0.1 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 Cogstate Verbal Learning (p=0.0040) Cogstate Global Cognition (p=0.0101) Cogstate Processing Speed (p=0.0399) Patient Global Impression – Change: Fatigue (p=0.0887) PROMIS Cognitive Function (p=0.1200) SF-12 Mental Component (p=0.1463) Patient Global Impression – Severity: Think Clearly (p=0.1817) DSQ-PEM (Post Exertional Malaise) (p=0.1845) Clinician Global Impression – Change (p=0.1986) DSQ-PEM total (p=0.2090) Cogstate Sustained Attention (p=0.2147) Patient Global Impression – Change: Think Clearly (p=0.2804) Patient Global Impression – Change: Overall (p=0.3091) Patient Global Impression – Severity: Fatigue (p=0.3098) PROMIS Fatigue (p=0.4118) Patient Global Impression – Severity: Overall (p=0.4169) Cogstate Identification / Attention (p=0.4716) Cogstate Detection / Psychomotor (p=0.7141) SF-12 Physical Component (p=0.8018) PROMIS Sleep Disturbance (p=0.9846) Cogstate Verbal Memory (p=0.0247) Cohen’s d Favors bezisterim treatment
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©2026 BioVie Inc. | 20 ©2026 BioVie Inc. | 20 SAFETY & TOLERABILITY Bezisterim safety and tolerability similar to placebo ▪ Overall AEs: Patients with any AEs: 41.6% bezisterim vs. 55.9% placebo ▪ High-severity events: Zero serious AEs for bezisterim vs. 1 for placebo, 1 severe unrelated AE for both, zero deaths. ▪ Headache was the #1 reported drug-related AE: 4% bezisterim vs. 4.9% placebo * Treatment-Emergent Adverse Events Bezisterim (N=101) Placebo (N=102) Subjects with at least one TEAE* 42 (41.6%) 57 (55.9%) Subjects with at least one drug-related TEAE 19 (18.8%) 26 (25.5%) Subjects with at least one serious TEAE 0 1 ( 1.0%) Subjects with at least one severe TEAE 1 (1.0%) 1 (1.0%) Subjects with at least one TEAE leading to discontinuation of study 5 ( 5.0%) 2 ( 2.0%) Subjects with TEAE leading to death 0 0
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©2026 BioVie Inc. | 21 ©2026 BioVie Inc. | 21 SAFETY/TOLERABILITY FINDINGS IMPORTANT GIVEN POLYPHARMACY Percent of trial participants; N=203 Nervous System (181 unique meds) Alimentary Tract and Metabolism (210 unique meds) Respiratory System (97 unique meds)) Cardiovascular System (70 unique meds) Musculo-Skeletal System (54 unique meds) Genito Urinary System and Sex Hormones (56 unique meds) Blood and Blood Forming Organs (35 unique meds) Various (70 unique meds)) Antineoplastic and Immunomodulating Agents (9 unique meds) Antiinfectives for Systemic Use (37 unique meds)) Systemic Hormones (Ecl Sex Hormones and Insulins) (19 unique meds)) Dermatologicals (40 unique meds)) Sensory Organs (12 unique meds)) 77% 76% 46% 44% 37% 32% 28% 24% 21% 19% 18% 16% 3% 96% subjects on ≥1 concomitant medication 873 unique medications reported 13 distinct ATC Level 1 therapeutic categories
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©2026 BioVie Inc. | 22 ©2026 BioVie Inc. | 22 • Bezisterim appears to help Long COVID patients with high baseline symptomatic burden • Baseline severity on fatigue, post-exertional malaise and/or cognitive impairment associated with patient’s ability to improve on that endpoint. – A patient not affected by a symptom has little room to improve • Bezisterim’s safety and tolerability allows for potential use with a patient population currently taking many medications • Compelling signal identified for bezisterim warrants advancing to Phase 3 confirmatory trial WHAT DOES IT ALL MEAN? OUR INTERPRETATION Bezisterim has the potential to be the first treatment for Long COVID
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©2026 BioVie Inc. | 23 ©2026 BioVie Inc. | 23 • Hector Fabio Bonilla, M.D. Clinical Professor of Medicine and Infectious Diseases Stanford University • Hannah Davis Co-founder Patient-Led Research Collaborative (PLRC) • Jason D. Goldman, M.D., M.P.H. Clinical Associate Professor University of Washington Providence Swedish Medical Center • Maureen Hanson, Ph.D. Liberty Hyde Bailey Professor, Molecular Biology and Genetics Cornell University PERSPECTIVES FROM OUR INVESTIGATORS AND ADVISORS • Timothy Henrich, M.D. Professor, Medicine, School of Medicine University of California, San Francisco (UCSF) • Jerry A. Krishnan, M.D., Ph.D. Associate Vice Chancellor for Population Health Sciences & Professor of Medicine and Public Health University of Illinois Chicago (UIC) • Lyndsay McAlpine, M.D Professor, Yale University School of Medicine. Founder, NeuroCOVID Clinic at Yale • Grace McComsey, M.D., FIDSA Professor of Medicine; infectious diseases researcher Case Western Reserve University • Lisa McCorkell Patient-Led Research Collaborative (PLRC) • Michael Peluso, M.D., M.H.S. Associate Professor of Medicine University of California, San Francisco (UCSF) • David Putrino, Ph.D. Professor, Department of Rehabilitation and Human Performance Icahn School of Medicine at Mount Sinai • Ezra Spier Long COVID patient advocate 12 / 12 Of our investigators and advisors recommend proceeding to Phase 3 confirmatory trials
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©2026 BioVie Inc. | 24 ©2026 BioVie Inc. | 24 • Incorporate biomarker data when they arrive – Biomarkers of inflammation, neuroinflammation, neurodegeneration and epigenetics • Plan for End of Phase 2 meeting with the FDA – Parkinson’s – Long COVID • Plan Phase 3 potentially pivotal registrational trials • Continue analyzing the data and preparing presentations for conferences and submitting publications to scientific journals • Reactivate potential partnering conversations in due course LOOKING AHEAD
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©2026 BioVie Inc. | 25 ©2026 BioVie Inc. | 25 PIPELINE OVERVIEW Multiple multi-billion-dollar US markets across the BioVie pipeline PRECLINICAL PHASE 1 PHASE 2 PHASE 3 Annual US Sales Potential* Parkinson's Disease Bezisterim (formerly NE3107) Oral small molecule TNFα inhibitor Alzheimer's Disease Long COVID INDICATION BIV201 (Continuous IV terlipressin) Ascites August ’26 Topline Data 3Q26 Topline Data FDA Design Agreed Catalyst $3B $10B $30B $1.6B Phase 3 Pending SUNRISE-PD · Phase 2b ADDRESS-LC · $13M DoW grant * Company estimates
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©2026 BioVie Inc. | 26 Thank You