Business
Veru Sets Another Quarterly Record in Both Net Revenues and in Gross Profit for Fiscal 2021 Third Quarter
--Q3 FY21 Net Revenues Increase 71% to $18M and Gross Profit Increases 113% to $14M, Achieving New Historical Highs— --Nine-Month FY21 Year to Date Net
About this update from Veru Inc.
[{"type":"text","content":"--Q3 FY21 Net Revenues Increase 71% to $18M and Gross Profit Increases 113% to $14M, Achieving New Historical Highs— --Nine-Month FY21 Year to Date Net Revenues Increased 48% to $46M, also a Record High, Even Exceeding Any Prior Full Fiscal Year Net Revenues— --Late Clinical Stage Oncology Drug Pipeline Focused on Prostate and Breast Cancers Continues its Significant Advance— --Phase 3 COVID-19 Clinical Trial to Treat Hospitalized Patients at Risk for Acute Respiratory Distress Syndrome on Track and Enrolling in the United States and South America----Company Initiated Phase 3 VERACITY Clinical Trial for Metastatic Castration Resistant Prostate Cancer and Phase 2 VERU-100 Clinical Trial for Advanced Prostate Cancer During Past Quarter-- -- Phase 3 ARTEST Clinical Trial for 3rd line AR+ ER+ Metastatic Breast Cancer, Phase 2b Combination Clinical Trial for 2nd Line AR+ ER+ Metastatic Breast Cancer, and Phase 2b Clinical Trial for Metastatic Triple Negative Breast Cancer Expected to Start 2H of Calendar Year -- --TADFIN for the Treatment of Benign Prostatic Hyperplasia PDUFA Date is On Track for December 2021— -- Cash and Cash Equivalents were $123M as of June 30, 2021-- --Company to Host Investor Conference Call Today at 8 a.m. ET-- MIAMI, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Veru Inc. (NASDAQ: VERU), an oncology biopharmaceutical company with a focus on developing novel medicines for the management of prostate and breast cancer, today announced that net revenues increased 71% and gross profit rose 113% for its fiscal 2021 third quarter ended June 30, 2021, setting new quarterly records for both net revenues and gross profit. Third Quarter Financial Highlights: Fiscal 2021 vs Fiscal 2020 Net revenues increased 71% to $17.7 million from $10.3 millionFC2 prescription net revenues climbed 150% to $13.5 million from $5.4 millionGross profit rose 113% to $13.9 million from $6.5 millionGross margin increased to 79% of net revenues from 63% of net revenuesOperating loss was $2.9 million versus $1.4 millionNet loss was $2.7 million, or $0.03 per share, compared with $3.0 million, or $0.05 per share. Year-to-Date Financial Highlights: Fiscal 2021 vs Fiscal 2020 Net revenues increased 48% to $45.6 million from $30.8 million, a record high not only for the nine-month period ended June 30, 2021, but also a record high when compared to any prior f...