Veru(US:VERU)2025-12-17 12:00Financial Performance - Veru reported a net loss of $22.7 million, or $1.55 per share, for fiscal year 2025, a decrease from a net loss of $37.8 million, or $2.80 per share, in fiscal year 2024[18]. - Operating loss for 2025 was $24.8 million, compared to $36.2 million in 2024, representing a 31.7% improvement[28]. - Net loss from continuing operations decreased from $35.3 million in 2024 to $15.7 million in 2025, a reduction of approximately 55.5%[28]. - Basic and diluted net loss per share improved from $(2.80) in 2024 to $(1.55) in 2025, reflecting a 44.6% reduction in loss per share[28]. Expenses - Research and development expenses increased to $15.6 million from $12.8 million, while general and administrative expenses decreased to $19.9 million from $24.6 million[18]. - Research and development expenses increased to $15.6 million in 2025 from $12.8 million in 2024, an increase of 22.4%[28]. - Total operating expenses decreased from $37.4 million in 2024 to $35.5 million in 2025, a reduction of approximately 4.9%[28]. Assets and Liabilities - Total current assets decreased from $35.2 million in 2024 to $18.9 million in 2025, a decline of approximately 46.3%[26]. - Cash, cash equivalents, and restricted cash at the end of 2025 were $15.8 million, down from $24.9 million at the end of 2024, a decrease of 36.6%[30]. - Total liabilities decreased from $28.1 million in 2024 to $11.5 million in 2025, a decline of approximately 59.0%[26]. Clinical Trials and Research - The Phase 2b QUALITY study demonstrated a 100% average preservation of total lean mass in the enobosarm 3 mg + semaglutide group compared to placebo + semaglutide at 16 weeks[7]. - Enobosarm 3 mg + semaglutide treatment resulted in a 12% greater fat loss at 16 weeks compared to placebo + semaglutide[7]. - 65.4% of patients in the enobosarm 3 mg + semaglutide group lost at least 5% of body weight at 16 weeks, compared to 47.4% in the semaglutide alone group[7]. - The planned Phase 2b PLATEAU clinical trial will evaluate the effect of enobosarm 3 mg on total body weight and physical function in approximately 200 patients aged 65 and older with obesity[14]. - The FDA confirmed that enobosarm 3 mg is an acceptable dosage for future clinical development[13]. - The company aims to address the weight loss plateau experienced by 88% of patients on GLP-1 RA monotherapy through the Phase 2b PLATEAU clinical trial[5]. - The Phase 2b QUALITY study confirmed that enobosarm plus semaglutide led to greater fat loss while preserving lean mass, indicating a higher quality weight reduction[10]. Other Financial Activities - The company completed a public offering post fiscal year end, generating net proceeds of approximately $23.4 million[2]. - Gain on sale of ENTADFI® assets was $10.8 million in 2025, significantly higher than $1.2 million in 2024[28]. - Net cash used in operating activities increased to $30.0 million in 2025 from $21.7 million in 2024, an increase of approximately 38.2%[30].