Why Did BioVie Shares Jump 21% Today?

The FDA has signed off BioVie Inc's BIVI Phase 2 study assessing NE3107's potential pro-motoric impact in Parkinson's disease patients.
The NM201 study is a double-blind, placebo-controlled, safety, tolerability, and pharmacokinetics study in Parkinson's disease (PD) participants treated with carbidopa/levodopa and NE3107.
The Company expects to initiate patient enrollment for the NM201 study before the end of 2021. Topline results are expected by the middle of 2022.
Forty patients will be randomized to a 1:1 placebo: active 20 mg twice daily for 28 days.
Safety assessments will look at standard measures of patient health and the potential for drug-drug interactions affecting L-dopa PK and activity.
The Company has an active Phase 3 trial studying NE3107 in Alzheimer's disease with topline results by the end of 2022.
Price Action: BIVI shares closed up 21.61% at $6.64 on Tuesday.