---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-107340"
form_type: "8-K"
ticker: "VERU"
cik: "0000863894"
company_name: "VERU INC."
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T23:09:30.087112+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Veru sells ENTADFI assets to Blue Water Vaccines for $20M upfront + up to $80M milestones

## Summary
- Asset purchase closed April 19, 2023; buyer paid $6M at closing, owes $4M in FY2023 and $10M in FY2024.
- Potential milestone payments of $10M/$20M/$50M if annual net sales reach $100M/$200M/$500M.
- Buyer assumed 6% royalty on ENTADFI sales and up to $22.5M in milestone obligations from Camargo agreement.
- Veru sold substantially all ENTADFI assets, including IP, regulatory approvals, inventory, and contracts.
- Deal shifts Veru's focus away from ENTADFI; milestone payments uncertain.

## SEC filing metadata
- accession: 0001193125-23-107340
- form_type: 8-K
- ticker: VERU
- cik: 0000863894
- company_name: VERU INC.
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/863894/000119312523107340/0001193125-23-107340-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/863894/000119312523107340/d473204d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-107340
- JSON: https://secwatch.observer/filing/0001193125-23-107340.json
- Plain text: https://secwatch.observer/filing/0001193125-23-107340.txt

## Key facts
- M&A Transactions
  VERU INC. completed a disposition involving Blue Water Vaccines Inc. for $20.0 million (closed 2023-04-19).
  - Action: disposition
  - Counterparty: Blue Water Vaccines Inc.
  - Consideration: $20.0 million
  - Closing: 2023-04-19
  source text: purchased substantially all of the assets related to the Company’s ENTADFI ® business. The transaction closed on April 19, 2023. The purchase price for the transaction was $20.0 million, consisting of $6.0 million paid at closing, an additional $4.0 million the Purchaser is obligated to pay the Company in the Company’s fiscal year 2023 and an additional $10
  evidence_url: https://www.sec.gov/Archives/edgar/data/863894/000119312523107340/0001193125-23-107340-index.htm
- Material Agreements
  VERU INC. entered into Asset Purchase Agreement with Blue Water Vaccines Inc. valued at $20.0 million purchase price: $6.0 million closing, $4.0 million fiscal 2023, $10 million fiscal 202 (effective 2023-04-19).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Blue Water Vaccines Inc.
  - Value: $20.0 million purchase price: $6.0 million closing, $4.0 million fiscal 2023, $10 million fiscal 202
  - Effective: 2023-04-19
  source text: On April 19, 2023, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Blue Water Vaccines Inc. (the “Purchaser”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/863894/000119312523107340/0001193125-23-107340-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.