Veru reports Q1 FY2023 net loss of $36.8M; revenue falls 82% to $2.5M

VERU INC.

2023-Q1 EPS reported -$0.46 revenue$2,507,794

Net revenues decreased to $2.5M from $14.1M in prior-year quarter; gross profit fell to $0.7M.
Net loss of $36.8M ($0.46 per share) vs. $6.4M ($0.08) a year ago; operating loss $35.6M.
Cash and equivalents dropped to $46.9M at Dec 31, 2022 from $80.2M at Sep 30, 2022.
Sabizabulin for COVID-19 under review by FDA, EMA, MHRA, TGA, Health Canada and others.
IDWeek data: sabizabulin showed 81.2% relative reduction in deaths in WHO 4 subset (p=0.0090).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERU INC. reported fiscal 2023 first quarter results: revenue $2.5 million, net income $36.8 million, or $0.46 per share.

Period: fiscal 2023 first quarter
Revenue: $2.5 million
Net income: $36.8 million, or $0.46 per share
Result: reported results

Exact text from the filing

with an enlarged prostate experiencing the signs and symptoms of BPH for up to 26 weeks. First Quarter Financial Summary: Fiscal 2023 vs Fiscal 2022 • Net revenues decreased to $2.5 million from $14.1 million • Gross profit decreased to $0.7 million from $11.8 million 2 • Research and development expenses increased to $18.7 million from $10.1 million • Selling,

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Source: SEC EDGAR

accession 0001193125-23-029167

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