Categories AlphaGraphs, Earnings, Health Care

Veru (VERU) posts narrower-than-expected loss in Q2

Veru Inc. (NASDAQ: VERU) reported its financial results for the quarter ended March 31, 2020, on Wednesday before the market opens. The company posted a narrower loss for Q2 as the substantial growth in prescription sales of FC2 drove the top-line higher.

Veru (VERU) Q2 2020 earnings review

On Tuesday, Veru received FDA permission to initiate a phase 2 clinical trial to assess the efficacy of VERU-111 in combating COVID-19, the global pandemic disease caused by the novel coronavirus SARS-CoV-2. Veru has initiated the study and expects the first patient to be dosed within 2 weeks.

The company believes that VERU-111, a microtubule depolymerization agent that has broad antiviral activity, could be effective against the SARS CoV-2 virus by disrupting its intracellular transport along the microtubules. Microtubule trafficking is critical for viruses to cause infection.

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