Veru to Host Investor Call on January 4th, 2024 to Discuss Recent Financing and Strategy to Prioritize the Development of Enobosarm as a Combination Treatment to Prevent Muscle Loss and Augment Fat Loss Associated with Weight Loss GLP-1 Drugs
December 19 2023 - 8:30AM
Veru Inc. (NASDAQ: VERU), a late clinical stage biopharmaceutical
company focused on developing novel medicines for the treatment of
obesity, oncology, and viral induced acute respiratory distress
syndrome, today announced it will host an investor conference call
and audio webcast on Thursday, January 4, 2024, at 8:00 a.m. ET to
discuss the recent financing and the Company’s strategy to
prioritize the development of enobosarm for weight loss as well as
provide an update on the Company’s drug pipeline.
“Veru is a late clinical stage biopharmaceutical company
focusing on developing novel medicines for the treatment of obesity
and oncology. We have made a major change on the clinical
development of enobosarm, our novel small molecule, first-in-class
oral selective androgen receptor modulator. Enobosarm has
demonstrated the ability to decrease fat mass, increase muscle
mass, and improve muscle strength and physical function in 5
clinical studies involving 968 older men and postmenopausal women
with and without muscle wasting. Because of these clinical
attributes, enobosarm is being developed as an obesity treatment to
augment fat loss while preventing muscle loss initially in
sarcopenic obese or overweight elderly patients receiving a
glucagon-like peptide-1 receptor agonist (GLP-1 RA) drug for weight
loss who are at-risk for developing muscle atrophy and muscle
weakness,” said Mitchell S. Steiner, MD, Chairman, CEO and
President of Veru Inc. “We plan to conduct a Phase 2b multicenter,
double-blind, placebo-controlled, randomized, dose-finding clinical
trial designed to evaluate enobosarm 3mg, 6mg, or placebo in
approximately 75 sarcopenic obese or overweight elderly patients
receiving a GLP-1 RA for weight loss, with the first clinical data
expected from the clinical trial in Q4 2024. Our recent financing
should provide us with sufficient resources to reach beyond the
clinical milestones associated with the Phase 2b enobosarm for
obesity clinical trial.”
The audio webcast will be accessible under “Investor Kit” in the
Investors page of the Company’s website at www.verupharma.com. To
join the conference call via telephone, please dial 1-800-341-1602
(domestic) or 1-412-902-6706 (international) and ask to join the
Veru Inc. call. An archived version of the audio webcast will be
available for replay on the Company’s website for approximately
three months. A telephonic replay will be available on January 4,
2024 at approximately 12:00 p.m. ET by dialing 1-877-344-7529
(domestic) or 1-412-317-0088 (international), passcode 7752713, for
one week.
About Veru Inc.Veru Inc. is a late clinical
stage biopharmaceutical company focused on developing novel
medicines for the treatment of obesity, oncology, and viral induced
acute respiratory distress syndrome.
Forward-Looking StatementsThis press release
contains "forward-looking statements" as that term is defined in
the Private Securities Litigation Reform Act of 1995, including,
without limitation, express or implied statements related to Veru’s
expectations regarding the planned use of proceeds from the
offering, whether those proceeds will be sufficient for the Company
to complete the planned phase 2b trial of enobosarm discussed
above, whether the Company will be successful in its transformation
into a late stage biopharmaceutical company focused on obesity and
oncology, and the planned timing and design of the planned phase 2b
trial of enobosarm, The words "anticipate," "believe," "could,"
"expect, " "intend," "may," "opportunity," "plan," "predict,"
"potential," "estimate," "should, " "will," "would" and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Any forward-looking statements in this press
release are based upon current plans and strategies of Veru Inc.
(the Company) and reflect the Company's current assessment of the
risks and uncertainties related to its business and are made as of
the date of this press release. The Company assumes no obligation
to update any forward- looking statements contained in this press
release because of new information or future events, developments
or circumstances. Such forward-looking statements are subject to
known and unknown risks, uncertainties and assumptions, and if any
such risks or uncertainties materialize or if any of the
assumptions prove incorrect, our actual results could differ
materially from those expressed or implied by such statements.
Factors that may cause actual results to differ materially from
those contemplated by such forward-looking statements include, but
are not limited to, uncertainties related to market conditions and
the satisfaction of customary closing conditions related to the
proposed public offering and the Company’s expectations regarding
the completion, timing and size of the proposed public offering and
the use of proceeds therefrom. This list is not exhaustive and
other risks are detailed in the Company’s periodic reports filed
with the SEC, including the Company's Form 10-K for the year ended
September 30, 2023.
Investor Contact:
Samuel FischExecutive Director, Investor
Relations and Corporate CommunicationsEmail:
veruinvestor@verupharma.com
Veru (NASDAQ:VERU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Veru (NASDAQ:VERU)
Historical Stock Chart
From Apr 2023 to Apr 2024