Veru Announced Today The Pricing Of An ~$33M Underwritten Public Offering Of 45,833,333 Shares Of Its Common Stock At A Price To The Public Of $0.72/Share

Author: Benzinga Newsdesk | December 14, 2023 10:05am

Veru intends to use the net proceeds from the offering to fund its clinical stage drug development with a primary near-term focus on funding a Phase 2b clinical trial designed to evaluate the safety and efficacy of enobosarm, an oral selective androgen receptor modulator, initially as a treatment to augment fat loss and to prevent muscle loss in sarcopenic obese or overweight elderly patients receiving a glucagon-like peptide-1 receptor agonist who are at-risk for developing muscle atrophy and muscle weakness. Some of the proceeds will also be used for working capital purposes, including existing vendor obligations, and for other general corporate purposes.

Posted In: VERU