Business
Veru Reports Record Fiscal 2021 Full-Year Financial Results
--FY21 Net Revenues Increase 44% to $61 Million and Gross Profit Increases 56% to $48 Million, Achieving New Historical Highs-- --Phase 3 Sabizabulin COVID-19
About this update from Veru Inc.
[{"type":"text","content":"--FY21 Net Revenues Increase 44% to $61 Million and Gross Profit Increases 56% to $48 Million, Achieving New Historical Highs-- --Phase 3 Sabizabulin COVID-19 Clinical Study for Treatment of Hospitalized Moderate to Severe COVID-19 Patients at High Risk for Acute Respiratory Distress Syndrome Being Conducted in US, Mexico, South America, and Europe; Clinical Results Expected 1H 2022-- --Expansive Breast Cancer Program Continues Its Rapid Advance; Four Late-Stage Clinical Studies Enrolling or Planned in Metastatic Breast Cancer-- --Phase 3 VERACITY Clinical Study of Oral, Targeted, Cytoskeleton Disruptor Sabizabulin for Metastatic Castration Resistant Prostate Cancer Enrolling-- --Phase 2 Dose Finding Clinical Study of VERU-100 Long-Acting GnRH Antagonist Peptide, SubQ, 3-Month, Depot Injection for Advanced Hormone Sensitive Prostate Cancer Enrolling-- --ENTADFI, a New Treatment for Benign Prostatic Hyperplasia, PDUFA Date is On Track for this Month-- --Company to Host Investor Conference Call Today at 8 AM ET-- MIAMI, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Veru Inc. (NASDAQ: VERU), an oncology biopharmaceutical company with a focus on developing novel medicines for the management of breast and prostate cancer, today announced that fiscal 2021 full-year net revenues increased 44% to $61 million and gross profit increased 56% to $48 million, achieving new historical highs. Fourth-Quarter Financial Highlights: Fiscal 2021 vs Fiscal 2020 Net revenues increased 33% to $15.6 million from $11.7 millionFC2 prescription net revenues climbed 55% to $13.6 million from $8.7 millionGross profit rose 29% to $12.3 million from $9.6 millionGross margin was 79% of net revenues compared with 81% of net revenuesOperating loss was $1.9 million versus $11.3 million. Operating loss in the fiscal 2020 period included a $14.1 million non-cash impairment charge.Net loss was $4.3 million, or $0.05 per share, compared with $11.8 million, which included a non-cash impairment charge of $14.1 million related to intangible assets or $0.17 per share. Full-Year Financial Highlights: Fiscal 2021 vs Fiscal 2020 Net revenues increased 44% to $61.3 million from $42.6 million, a record high when compared to any prior fiscal yearFC2 prescription net revenues climbed 71% to $46.5 million from $27.1 millionGross profit rose 56% to $47.9 million from $30.8 millionGross margi...