VERU INC.

Listed Company

VERUCIK 0000863894NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsWisconsinFY ends Sep 30

Period

FY 2025

Revenue

—

Net Income

$-22.73M

Total Assets

$29.84M

Equity

$18.33M

Shares Out

16.05M

Op. Cash Flow

$-30.00M

Business

VERU INC. is a late clinical-stage biopharmaceutical company developing novel medicines for cardiometabolic and inflammatory diseases. Its main product candidates are enobosarm, an oral selective androgen receptor modulator being developed to preserve muscle and augment fat loss in patients receiving GLP‑1 receptor agonists for weight reduction, and sabizabulin, an oral microtubule disruptor being developed as a broad anti-inflammatory agent for atherosclerotic cardiovascular disease. The company’s operations are organized around its drug development programs, clinical trials, regulatory filings and intellectual property licensing. VERU conducts clinical development and regulatory interactions primarily in the United States and pursues global patent protection and potential commercialization through healthcare providers, institutions and distributors.

Summary from filing dated 2025-12-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Research and development	16	13	51	71	33
General and administrative	20	25	—	—	—
Total operating expenses	36	37	107	114	53
Gain on sale of ENTADFI assets	11	1	6	—	18
Operating loss	−25	−36	−94	−83	13
Gain on extinguishment of debt	9	0	—	—	—
Change in fair value of equity securities	−323,773	−176,077	0	—	—
Other income, net	768,380	1	573,771	495,735	−152,367
Total non-operating income	9	909,122	1	−316,063	−9
Net loss from continuing operations	−16	−35	—	—	—
Net loss from discontinued operations, net of taxes	−7	−3	—	—	—
Net loss	−23	−38	−93	−84	7
Net loss from continuing operations per basic and diluted common shares outstanding (in dollars per share)	−1.07	−2.61	—	—	—
Net loss from discontinued operations per basic and diluted common shares outstanding (in dollars per share)	−0.48	−0.19	—	—	—
Net loss per basic and diluted common shares outstanding (in dollars per share)	−1.55	−2.8	−1.1	−1.05	0.1
Basic and diluted weighted average common shares outstanding (in shares)	15	13	85	80	76

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash, cash equivalents and restricted cash	16	25	10	—	—
Investment in equity securities	3	742,295	—	—	—
Prepaid expenses and other current assets	595,251	805,633	1	2	850,889
Current assets of discontinued operations	0	9	—	—	—
Total current assets	19	35	23	105	152
Property and equipment, net	364,808	481,372	2	1	592,603
Operating lease right-of-use asset	3	3	4	5	969,839
Goodwill	7	7	7	7	7
Other assets	930,847	989,596	2	2	878,502
Long-term assets of discontinued operations	0	14	—	—	—
Total assets	30	60	50	136	178
Accounts payable	3	2	13	22	3
Accrued compensation	4	4	990,609	—	—
Accrued expenses and other current liabilities	394,529	669,685	2	—	—
Residual royalty agreement, short-term portion (Note 8)	0	1	864,623	—	—
Operating lease liability, short-term portion	758,946	736,970	1	957,085	497,903
Current liabilities of discontinued operations	0	3	—	—	—
Total current liabilities	8	12	18	41	16
Residual royalty agreement, long-term portion (Note 8)	0	9	853,987	9	2
Operating lease liability, long-term portion	2	3	4	4	609,921
Other liabilities	1	4	29,948	18,577	14,986
Long-term liabilities of discontinued operations	0	16,071	—	—	—
Total liabilities	12	28	30	55	26
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock, no shares issued and outstanding at September 30, 2025 and 2024, respectively	0	0	0	—	—
Common stock, par value $0.01 per share; 308,000,000 shares authorized, 14,868,690 and 14,856,762 shares issued and 14,650,320 and 14,638,392 shares outstanding at September 30, 2025 and 2024, respectively	148,687	148,568	939,664	826,926	821,535
Additional paid-in-capital	343	335	284	254	242
Accumulated other comprehensive loss	0	−581,519	−581,519	−581,519	−581,519
Accumulated deficit	−317	−295	−257	−166	−82
Treasury stock, 218,370 shares, at cost	−8	−8	−8	—	—
Total stockholders' equity	18	32	20	83	152
Total liabilities and stockholders' equity	30	60	50	136	178

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	152,105	268,177	269,874	—	—
Loss on sale of FC2 business	4	0	—	—	—
Noncash change in right-of-use assets	581,453	770,700	741,257	—	—
Noncash interest expense, net of interest paid	−168,556	−97,130	2	—	—
Share-based compensation	8	14	18	11	5
Deferred income taxes	−1,916	367,182	177,499	76,206	−4
Provision for obsolete inventory	−72,831	2	185,499	82,019	583,503
Change in fair value of derivative liabilities	3	239,000	—	—	—
Loss on disposal of fixed assets	0	184,267	290	—	—
Other	58,812	0	290	1,723	−6,182
(Increase) decrease in accounts receivable	−657,253	546,203	−4	5	−4
Decrease in inventories	863,928	986,108	648,628	−3	546,378
Decrease in prepaid expenses and other assets	397,573	862,039	10	−2	−9
Decrease in accounts payable	−3	−5	−9	19	597,098
(Decrease) increase in accrued expenses and other current liabilities	−1	4	−12	—	—
Decrease in operating lease liabilities	−625,352	−683,827	−666,863	—	—
Net cash used in operating activities	−30	−22	−88	−48	−16
Proceeds from sale of FC2 business, net of costs	16	0	—	5	15
Cash proceeds from sale of ENTADFI assets	8	304,536	7	—	—
Proceeds from sale of equity securities	393,217	0	—	—	—
Capital expenditures	−1,083	−158,322	−665,700	−733,052	−376,649
Net cash provided by investing activities	25	146,214	6	4	15
Payment on extinguishment of residual royalty agreement liabilities	−4	0	—	—	—
Proceeds from stock option exercises	0	3,280	400,000	1	2
Installment payments on premium finance agreement	0	−132,975	−1	—	—
Net cash (used in) provided by financing activities	−4	37	11	1	110
Net (decrease) increase in cash, cash equivalents, and restricted cash	−9	15	−71	−42	109
Cash paid for income taxes	78,548	368,820	247,361	422,135	248,746
Cash paid for interest	332,826	704,600	554,818	3	8
Equity securities received from sale of ENTADFI assets	3	918,372	0	—	5
Amortization of deferred costs related to common stock purchase agreement	0	164,313	138,182	—	—

Filings

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