XML 26 R15.htm IDEA: XBRL DOCUMENT v3.19.1
Subsequent Events
9 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

9. Subsequent Events

In April 2019, to facilitate the Company’s planned uplisting to the NASDAQ Stock Market and related potential future issuances and sales of equity securities for ordinary corporate finance and general corporate purposes and as recommended by the Board of Directors (“Board”), the Company’s stockholders approved an amendment to the Company’s Articles of Incorporation to effect a reverse split of its outstanding Class A common stock in the range of 50:1 to 200:1, as determined by the Board. Following that approval, the Company filed a Registration Statement on Form S-1 (Registration No. 333-231136) (the “S-1 Registration Statement”) pursuant to which it anticipates completing an offering of equity securities with proceeds sufficient to enable the launch and completion of the BIV201 Phase 2b study and fund internal operations for at least the next twelve months.