BioVie Shares Drop 16% After Mixed Phase 2 Results for Long COVID Treatment

September 14, 2026
BioVie Shares Drop 16% After Mixed Phase 2 Results for Long COVID Treatment
  • BioVie released topline results from the Phase 2 ADDRESS-LC trial of bezisterim for Long COVID, showing statistically significant improvements in pre-specified high-symptom-burden subgroups across multiple endpoints.

  • In the overall intent-to-treat population, bezisterim favored placebo on most endpoints but did not achieve statistical significance.

  • About 78% of the roughly 200-patient study were in pre-specified subgroups based on baseline fatigue, post-exertional malaise, or objective cognitive impairment, as outlined in a statistical analysis plan submitted to the FDA before unblinding.

  • The press release carries forward-looking statements and risk disclosures, along with contact information for investor relations and media inquiries.

  • The report includes related stock context, listing tickers, and performance data alongside the news.

  • BioVie remains unprofitable with no revenue; its market cap around $17 million means earnings-based metrics like P/E are not meaningful and P/S is largely undefined due to no sales.

  • Market reaction noted in accompanying data; the stock fell after the announcement as results are described as exploratory for informing future trials.

  • Readouts are not yet publicly disclosed in full; investors can monitor ClinicalTrials.gov for updates and top-line results when released.

  • The study was fully funded by a $13.13 million DoD PRMRP award, and results were presented ahead of a conference call.

  • BioVie will hold a conference call at 8:30 a.m. Eastern on September 15, 2026, to discuss results with management and host a live Q&A.

  • If warranted by the results, BioVie plans to move forward with a confirmatory Phase 3 trial for bezisterim in Long COVID.

  • Guest speakers for the event include Michael Peluso, MD, and Ezra Spier, with a live Q&A and replay available on BioVie's site.

Summary based on 18 sources


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