Veru Q2 net loss $38.8M ($0.48/share); revenue falls to $6.6M; FDA agrees on sabizabulin Phase 3 design

VERU INC.

2023-Q2 EPS reported -$0.94 revenue$9,093,761

Net loss $38.8M vs $14.2M YoY; operating loss $39.4M including $3.9M impairment and $3.9M credit loss provision.
Revenue down to $6.6M from $13.0M; gross profit $4.1M vs $11.2M; R&D expense rose to $22.9M.
Cash and equivalents $23.5M at March 31, 2023, down from $80.2M at September 30, 2022.
FDA agreed on confirmatory Phase 3 trial for sabizabulin in COVID-19 ARDS; 408-subject, two interim efficacy analyses planned.
Sold ENTADFI for $20M plus up to $80M milestones; Lincoln Park Capital committed up to $100M common stock purchase.

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 financial results for the quarter and six months ended March 31, 2023.

Period: the quarter and six months ended March 31, 2023
Result: reported results

Exact text from the filing

On May 11, 2023, Veru Inc. issued a press release (the "Press Release") announcing results for the quarter and six months ended March 31, 2023.

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

VERU INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-141365

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