Veru announces underwritten public stock offering

Veru Inc. (NASDAQ: VERU) announced it has commenced an underwritten public offering of common stock shares or pre-funded warrants, along with accompanying Series A and Series B warrants to purchase common stock shares.

The Miami-based biopharmaceutical company plans to use net proceeds primarily to fund development of enobosarm, focusing on Phase 2b PLATEAU clinical study activities. Additional funds will support working capital purposes, existing vendor obligations, and general corporate purposes including potential development partnerships for enobosarm.

Canaccord Genuity LLC and Oppenheimer & Co. Inc. serve as joint book-running managers for the offering. The offering remains subject to market and other conditions, with no assurance regarding completion, timing, or final size and terms.

The securities are being offered under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on March 16, 2023, amended April 11, 2023, and declared effective April 14, 2023.

Veru focuses on developing medicines for cardiometabolic and inflammatory diseases. The company describes itself as being in late clinical stage development.

The announcement includes standard disclaimers that the press release does not constitute an offer to sell securities and notes that such offers would be unlawful in certain jurisdictions without proper registration or qualification under applicable securities laws.

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