What's Going On With Veru Stock Today?

Veru Inc VERU shares are trading higher Monday after the company reported fourth-quarter financial results.

Q4 Results: Veru reported fourth-quarter revenue of $2.59 million, which is down from $15.65 million year-over-year. The company reported a quarterly net loss of 51 cents per share, which missed average estimates for a loss of 30 cents per share. 

Veru ended the quarter with $80.2 million in cash and equivalents, down from $122.4 million on a year-over-year basis.

"As sabizabulin is being reviewed in the U.S. and internationally for potential emergency use authorization, we are preparing for commercialization and will be ready to deliver this treatment to patients, if authorized," said Mitchell Steiner, chairman, president, and CEO of Veru.

Sabizabulin Update: Veru said the FDA's Pulmonary-Allergy Drugs Advisory Committee met with the company to review its request for Emergency Use Authorization of sabizabulin in November. 

The advisory committee voted 8 to 5 that the known and potential benefits of sabizabulin when used for the treatment of adult patients hospitalized with COVID-19 at high risk of ARDS do not outweigh the known and potential risks of sabizabulin.

See Also: Iovance Biotherapeutics Stock Is Surging: Here's Why

Veru is a biopharmaceutical company focused on developing novel medicines for COVID-19 and other viral ARDS-related diseases and for oncology.

VERU Price Action: Veru has a 52-week high of $24.55 and a 52-week low of $4.34.

The stock was up 10.9% at $6.09 at time of publication, according to Benzinga Pro.

Photo: Michal Jarmoluk from Pixabay.