Biovie is trading $1.55, down 10.12%, after announcing a $4.74 million registered direct offering and concurrent warrant placement on November 4, 2026. - The company plans to sell 2,962,500 shares or equivalents at $1.60 each, and issue warrants for up to another 2,962,500 shares, creating potential dilution. - Proceeds are for working capital and general corporate purposes; closing is expected around November 5. The decline also gives back part of November 3’s 26.28% gain.