VERU INC.
Business
Veru Inc. is a late-stage biopharmaceutical company developing novel medicines for cardiometabolic and inflammatory diseases. The company's primary focus is enobosarm, a selective androgen receptor modulator (SARM) being developed to preserve muscle and reduce fat loss in patients taking GLP-1 receptor agonists for obesity treatment, and sabizabulin, a microtubule disruptor in development for atherosclerotic cardiovascular disease inflammation. Veru divested its FDA-approved FC2 Female Condom business in December 2024 to focus on drug development. The company is advancing enobosarm toward a Phase 2b PLATEAU clinical trial and exploring Phase 2 development of sabizabulin for cardiometabolic indications.
Summary from 10-K filed 2025-12-17
Financials
Consolidated Statement of Income
| Concept | Trend | 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
| Concept | Trend | 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
| Concept | Trend | 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
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is VERU INC.'s CIK number?
VERU INC.'s SEC CIK number is 0000863894 (863894). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find VERU INC.'s SEC filings?
All of VERU INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did VERU INC. last report earnings?
VERU INC. (VERU) most recently filed an earnings 8-K with the SEC on May 13, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-220569). This is VERU INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is VERU INC.'s most recent earnings 8-K?
VERU INC.'s latest earnings 8-K (Item 2.02) was filed May 13, 2026 under accession 0001193125-26-220569. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View VERU INC.'s latest earnings 8-K →
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