Veru Stock Gains After Q3 Result Tops Estimates

Veru Inc VERU reported third-quarter FY21 sales growth of 71% year-on-year, to $17.66 million, beating the analyst consensus of $14.10 million.
FC2 prescription net revenues climbed 150% Y/Y to $13.5 million.
Gross Profit increased 113% Y/Y to $14 million with a profit margin expanding 1600 basis points to 79%.
The operating loss widened to $(2.9) million as operating expenses more than doubled to $16.7 million.
The company held $123 million in cash and equivalents as of June 30, 2021.
Loss per share of $(0.03) beat the analyst consensus of $(0.06).
"Unfortunately, yet another COVID-19 viral infection wave has hit the United States and globally, making our COVID-19 drug development program highly relevant and timely as COVID-19 remains a severe threat with few effective therapies to complement the COVID-19 vaccination strategy," said CEO Mitchell Steiner.
Price Action: VERU shares are trading higher by 7.90% at $7.51 on the last check Thursday.

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