Exhibit 99.1
Investor and Media Contact:
Samuel Fisch
Executive Director, Investor Relations and
Corporate Communications
Email: veruinvestor@verupharma.com
Veru Reports Fiscal 2024 Second Quarter Financial Results and
Progress of its Enobosarm High Quality Weight Loss Clinical Program
Phase 2b clinical study of enobosarm in combination with semaglutide (Wegovy®*) for high
quality weight loss is actively enrolling
Company assembles esteemed high quality weight loss Scientific Advisory Board five MDs
with significant relevant medical, clinical and scientific expertise
Company to present this month at upcoming American Association of Clinical Endocrinology
annual meeting and GLP-1 Based Therapeutics Summit
Company to host conference call and webcast today at 8:00 a.m. ET
MIAMI, FL May 8, 2024 Veru Inc. (NASDAQ: VERU), a late clinical stage biopharmaceutical company focused on developing
innovative medicines for preserving muscle for high quality weight loss, oncology, and viral induced acute respiratory distress syndrome, today announced financial results for its fiscal 2024 second quarter and provided a business update.
We are pleased to have initiated the Phase 2b enobosarm clinical trial, said Mitchell Steiner, M.D., Chairman, President, and Chief Executive
Officer of Veru Inc. There is a significant unmet medical need to have a drug that may effectively preserve muscle and augment fat loss in patients receiving GLP-1 drugs for weight loss. Dr. Steiner
also added: We are also very pleased to have assembled such an esteemed group of five medical experts for our high quality weight loss Scientific Advisory Board. All of these experts in obesity and muscle share our vision and goal to develop
enobosarm as a drug candidate that may potentially enhance quality weight loss for obese or overweight patients by preferentially increasing fat loss while preserving muscle. We know that all of them will make valuable contributions to guide the
enobosarm development program.
High Quality Weight Loss Program Update:
The Companys high quality weight loss program is focused on the clinical development of enobosarm, a novel oral selective androgen receptor modulator,
to preserve muscle while augmenting fat loss in patients receiving a GLP-1 RA for weight loss.
About the
Enobosarm Phase 2b clinical trial
The Phase 2b, multicenter, double-blind, placebo-controlled, randomized, dose-finding clinical trial was designed to
evaluate the safety and efficacy of enobosarm 3mg, enobosarm 6mg, or placebo as a treatment to preserve muscle and augment fat loss in approximately 90 patients with sarcopenic obesity or overweight elderly (>60 years of age) patients receiving
semaglutide (Wegovy®).The primary