Veru reports Q2 fiscal 2024 net loss $10M, cash $34.7M; enobosarm Phase 2b enrolling

VERU INC.

2024-Q2 EPS reported -$0.15 revenue$6,276,027

Fiscal Q2 net revenues $4.1M (down 38% YoY); net loss $10.0M ($0.07/share) vs $33.8M loss ($0.42) prior year.
Cash and equivalents $34.7M at March 31, 2024, up from $9.6M at Sept 30, 2023.
Phase 2b enobosarm+semaglutide weight loss trial actively enrolling; topline results expected end of 2024.
Extension trial to test muscle maintenance after GLP-1 discontinuation; results expected Q2 2025.
Assembled five-MD Scientific Advisory Board for high quality weight loss program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERU INC. reported the quarter and six months ended March 31, 2024 results: revenue $4.1 million, net income $10.0 million, or $0.07 per share, EPS $0.07 per share.

Period: the quarter and six months ended March 31, 2024
Revenue: $4.1 million
Net income: $10.0 million, or $0.07 per share
EPS: $0.07 per share
Result: reported results

Exact text from the filing

the separate blinded Phase 2b extension clinical study are expected in calendar Q2 2025. Second Quarter Financial Summary: Fiscal 2024 vs Fiscal 2023 • Net revenues decreased to $4.1 million from $6.6 million • Gross profit decreased to $0.7 million from $4.1 million • Research and development expenses decreased to $3.0 million from $17.9 million, as restated •

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Source: SEC EDGAR

accession 0001193125-24-133757

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