Company Developments - Veru Inc. has selected a novel modified-release oral formulation of enobosarm for chronic weight loss management, which aims to enhance fat loss while preserving lean mass [1][4] - The new formulation was developed in collaboration with Laxxon Medical, utilizing proprietary SPID-Technology for advanced oral delivery profiles [2][3] - The modified-release formulation achieved a distinct target product release profile, including a reduction in maximum plasma concentration and a delayed time to maximum plasma concentration [3] - Veru holds a robust patent estate for the new formulation, with protection extending through 2037 and potential expiry of new patent applications expected in 2046 [4] Clinical Study Results - In a Phase 2b clinical study, enobosarm monotherapy reduced weight regain by 46% compared to placebo after discontinuation of semaglutide, while completely preventing fat regain and preserving lean mass [5] Industry Insights - The global anti-obesity drug market was valued at $4.51 billion in 2023 and is projected to grow at a compound annual growth rate of 25.5% through 2032, driven by the increasing prevalence of obesity [6] - Several companies, including Regeneron Pharmaceuticals and Eli Lilly, are advancing obesity treatments, indicating a competitive landscape in the anti-obesity drug market [7][9]

Core Insights - The company reported positive efficacy and safety data from the Phase 2b QUALITY study, indicating that enobosarm combined with semaglutide led to muscle preservation, increased fat loss, and fewer gastrointestinal side effects compared to semaglutide alone [1][3] - The Phase 2b Maintenance Extension study showed that enobosarm significantly reduced body weight regain and fat regain while preserving lean mass after discontinuation of semaglutide [1][7] - A novel modified release oral formulation of enobosarm has been selected for further clinical studies following a pharmacokinetic clinical study [1][9] Clinical Development - The Phase 2b QUALITY study involved 168 older patients (≥60 years) and demonstrated that the 3mg enobosarm dose preserved 100% of total lean mass compared to placebo + semaglutide at 16 weeks (p<0.001) [4][8] - Enobosarm treatment resulted in a 42% greater relative loss of fat mass with the 6mg dose compared to placebo + semaglutide at 16 weeks (p=0.017) [4][8] - The study found that 44.8% of the placebo + semaglutide group experienced at least a 10% decline in stair climb power, indicating a risk of physical function loss [5][8] Safety and Efficacy - Enobosarm plus semaglutide treatment maintained similar mean body weight loss as semaglutide alone while preserving lean mass [4][7] - The enobosarm 3mg monotherapy significantly reduced body weight regain by 46% after semaglutide discontinuation [8] - The safety profile of enobosarm was positive, with no gastrointestinal side effects or evidence of drug-induced liver injury observed [8][9] Financial Overview - As of June 30, 2025, the company reported cash, cash equivalents, and restricted cash of $15.0 million, down from $24.9 million as of September 30, 2024 [12][19] - Research and development expenses decreased to $3.0 million from $4.8 million year-over-year [15][21] - The net loss from continuing operations decreased to $7.3 million, or $0.50 per share, compared to $10.3 million, or $0.71 per share in the previous year [15][22]

Core Insights - Veru Inc. has selected a novel modified release oral formulation of enobosarm for chronic weight loss management after confirming pharmacokinetic endpoints in a clinical study [1][2] - The new formulation aims to improve the pharmacokinetic profile of enobosarm, including reduced maximum plasma concentration and delayed time to maximum plasma concentration [2][3] - The formulation is protected by a robust patent estate, with existing patents extending through 2037 and new applications potentially extending to 2046 [3] Company Overview - Veru Inc. is a late clinical stage biopharmaceutical company focused on innovative medicines for cardiometabolic and inflammatory diseases, with enobosarm and sabizabulin as key drug candidates [4] - Enobosarm is a selective androgen receptor modulator being developed to enhance fat loss while preserving lean mass, particularly in older patients [4][5] Clinical Development - The Phase 2b QUALITY clinical study showed positive results for enobosarm in augmenting fat loss and preventing muscle loss in older patients receiving semaglutide [5][6] - The maintenance extension study confirmed that enobosarm significantly reduced body weight regain and preserved lean mass after discontinuation of semaglutide [6][7] - The company has been granted an FDA meeting to discuss its Phase 3 program for enobosarm [8] Collaboration and Technology - The novel formulation was developed in collaboration with Laxxon Medical, utilizing proprietary SPID-Technology for advanced oral delivery profiles [3][4] - Laxxon Medical is recognized for its innovative drug delivery systems and holds a significant patent portfolio, enhancing the commercialization potential of the new formulation [9][10][12]

Core Viewpoint - Veru Inc. is implementing a 1-for-10 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement of $1.00, which was approved by shareholders on July 25, 2025 [3]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 11:59 pm CT on August 8, 2025, with trading on a split-adjusted basis starting on August 11, 2025 [1]. - All outstanding stock options and equity incentive plans will be proportionally affected, with every 10 shares converting into 1 share without changing the par value of $0.01 per share [2]. - No fractional shares will be issued; shareholders will receive cash payments for any fractional shares [2]. Group 2: Company Overview - Veru Inc. is a late clinical stage biopharmaceutical company focused on innovative medicines for cardiometabolic and inflammatory diseases [6]. - The company's drug development includes enobosarm, a selective androgen receptor modulator aimed at improving body composition, and sabizabulin, a microtubule disruptor for treating inflammation in cardiovascular disease [6].

Company Overview - Veru Inc. is a late clinical stage biopharmaceutical company focused on developing innovative medicines for cardiometabolic and inflammatory diseases [2] - The company's drug development program includes two late-stage novel small molecules: enobosarm and sabizabulin [2] Enobosarm Obesity Program - Enobosarm is being developed as a next-generation drug to enhance fat loss while preserving lean mass, particularly in older patients receiving semaglutide for chronic weight management [3][4] - The Phase 2b QUALITY clinical study showed positive topline and safety results, with participants losing an average of 11.88 lbs during the active weight loss period [4] - After discontinuation of semaglutide, the placebo group regained 43% of lost body weight, while the enobosarm 3mg and 6mg groups regained only 1.41% (2.73 lbs) and 2.87% (5.29 lbs) respectively, demonstrating a significant reduction in weight regain [4][5] - Enobosarm monotherapy preserved more than 100% of lean mass compared to the placebo group, which experienced a loss of lean mass [5][6] Sabizabulin Atherosclerosis Inflammation Program - Sabizabulin is being explored for the treatment of inflammation in atherosclerotic cardiovascular disease, addressing a significant unmet medical need [8][9] - The drug has shown broad anti-inflammatory activity in previous clinical studies, with a safety database consisting of 266 dosed patients [8][9] - The company believes that combining sabizabulin with statin therapy could effectively reduce inflammation and slow the progression of atherosclerotic cardiovascular disease [8][9] Upcoming Events - Veru Inc. will participate in one-on-one meetings and a fireside chat presentation with investors at the 2025 BTIG Virtual Biotech Conference on July 29-30, 2025 [1]

Core Insights - Veru Inc. announced positive topline efficacy and safety results from the Phase 2b QUALITY clinical study, particularly highlighting the effectiveness of enobosarm in weight management after discontinuing semaglutide treatment [1][15] - Enobosarm 3mg significantly reduced body weight regain by 46% and completely prevented fat regain compared to placebo, while preserving lean mass [1][4] - The company has been granted a meeting with the FDA to discuss advancing enobosarm into Phase 3 clinical trials [1][15] Efficacy Results - In the placebo group, participants regained 43% of the body weight lost during the initial study phase after stopping semaglutide, while the enobosarm 3mg group regained only 1.41% (2.73 lbs) [1][4] - Enobosarm treatment resulted in up to 93% greater fat loss and 100% preservation of lean mass compared to the placebo group at the end of the study [1][4][6] - The enobosarm plus semaglutide regimen preserved 100% of lean mass, with 99% of body weight loss attributed to fat [2][5] Safety Profile - Enobosarm monotherapy maintained a positive safety profile with essentially no gastrointestinal side effects observed during the maintenance period [1][10] - There were no significant adverse events related to liver injury or increases in prostate-specific antigen levels, and no reports of suicidal ideation were noted [11][12] Study Design - The Phase 2b Maintenance Extension study involved 148 participants who discontinued semaglutide and received either placebo, enobosarm 3mg, or enobosarm 6mg for 12 weeks [3][15] - The study aimed to assess the role of enobosarm in preserving lean mass and preventing weight regain after stopping semaglutide [3][8] Future Outlook - The company anticipates reporting full Phase 2b QUALITY and Maintenance Extension clinical trial data at leading scientific conferences and in publications [2][15] - Enobosarm is positioned as a next-generation drug that enhances weight reduction by GLP-1 RA drugs, focusing on fat loss while preserving lean mass [14][15]

Company Overview - Veru Inc. is a late clinical stage biopharmaceutical company focused on developing innovative medicines for cardiometabolic and inflammatory diseases [2] - The company's drug development program includes two late-stage novel small molecules: enobosarm and sabizabulin [2] Enobosarm Development - Enobosarm is a selective androgen receptor modulator (SARM) aimed at enhancing weight reduction by making GLP-1 RA drugs more tissue selective for fat loss while preserving lean mass [2] - Positive topline and safety results were announced from the Phase 2b QUALITY clinical study, which involved 168 older patients (≥60 years) receiving semaglutide for chronic weight management [3] - The Phase 2b extension study will evaluate whether enobosarm can prevent fat regain after stopping GLP-1 RA treatment, with topline results expected in Q2 2025 [3] Sabizabulin Development - Sabizabulin is being explored as a treatment for inflammation in atherosclerotic cardiovascular disease, addressing a significant unmet medical need [4][5] - The drug has shown broad anti-inflammatory activity in previous clinical studies, with a safety database consisting of 266 dosed patients [4][5] - The company plans to submit a new IND for sabizabulin's proposed indication by the first half of 2026 [6] Market Opportunity - The decision to explore sabizabulin for atherosclerotic cardiovascular disease is based on the large global market opportunity and the high probability of success due to its mechanism of action being similar to colchicine [5] - The company aims to assess the progression of coronary atherosclerosis using coronary CT angiography imaging as a primary endpoint in a small Phase 2 proof of concept study [5]

Investment Rating - The report indicates a positive investment rating for the innovative drug sector, particularly highlighting the success of the combination therapy of Bemesumab and Anlotinib in treating NSCLC [8][11]. Core Insights - The report emphasizes the significant progress in the treatment of non-small cell lung cancer (NSCLC) through innovative therapies, particularly the combination of immune checkpoint inhibitors and anti-angiogenic agents, which have shown improved progression-free survival (PFS) rates compared to traditional therapies [7][11]. - The CAMPASS trial demonstrated that the combination of Bemesumab and Anlotinib significantly extended the median PFS to 11.0 months compared to 7.1 months for the control group, marking a notable advancement in first-line treatment options for PD-L1 positive advanced NSCLC [11]. - The report also discusses the ongoing clinical trials and the potential for new drug approvals, indicating a robust pipeline for innovative therapies in the oncology sector [12][47]. Summary by Sections Section 1: Focus on Innovative Drugs - The report reviews the latest developments in innovative drugs, particularly in the context of NSCLC treatments and highlights the importance of combination therapies [2][3]. Section 2: Clinical Trial Results - The report details the results of the CAMPASS trial, which compared the efficacy of Bemesumab combined with Anlotinib against Pembrolizumab in treating advanced NSCLC, showcasing a significant improvement in PFS [11][12]. - It also covers the mid-term analysis of the TQB2450-III-12 trial, which further supports the efficacy of the Bemesumab and Anlotinib combination in squamous NSCLC [13]. Section 3: Market Developments - The report notes the recent approvals and submissions for new drug indications, reflecting a dynamic and rapidly evolving market for innovative cancer therapies [45][49]. - It highlights the performance of various biotech companies in the market, indicating significant fluctuations in stock prices and market capitalization [41][43].

Core Viewpoint - Veru Inc. is advancing its late-stage clinical development of enobosarm, showing promising safety and efficacy data in combination with semaglutide for weight management in elderly patients [1][2][8]. Group 1: Safety and Efficacy of Enobosarm - The combination of enobosarm with semaglutide demonstrated good safety, with no increase in gastrointestinal adverse events or signs of drug-induced liver injury [2][3]. - No serious adverse events related to treatment were reported, with only four non-treatment-related serious adverse events observed [2][3]. - Enobosarm 3mg combined with semaglutide resulted in fewer gastrointestinal discomfort reports compared to the placebo plus semaglutide group [2][3]. Group 2: Primary and Secondary Endpoints - The study achieved its primary endpoint, showing that enobosarm combined with semaglutide significantly reduced lean body mass loss, with the 3mg group showing a 99.1% relative reduction in lean mass loss compared to placebo (p<0.001) [4][6]. - Enobosarm promoted fat loss in a dose-dependent manner, with the 6mg group showing a 46% reduction in fat compared to placebo at 16 weeks (p=0.014) [5][6]. Group 3: Functional Improvement - The stair climbing test indicated that only 16% of participants in the enobosarm 3mg group experienced a decline of 10% or more, representing a 62.4% reduction in decline risk compared to the placebo group (p=0.0066) [7]. - In contrast, 42.6% of the placebo plus semaglutide group showed a decline of 10% or more in the stair climbing test [7]. Group 4: Future Outlook - The QUALITY study is the first to validate the risk of accelerated lean mass loss and functional decline in elderly patients using GLP-1 receptor agonists for weight management [8]. - Veru plans to further develop enobosarm as a combination treatment with GLP-1 agonists to protect muscle mass and prevent functional decline during weight loss [8].

Core Insights - The Phase 2b QUALITY clinical study demonstrated that the combination of enobosarm and semaglutide has a positive safety profile, with fewer gastrointestinal side effects compared to semaglutide alone [1][3][4] - Enobosarm 3mg has been selected as the proposed oral dose for the upcoming Phase 3 clinical program based on the efficacy and safety data from the Phase 2b trial [1][8] - The combination treatment resulted in a highly selective loss of fat mass, with 99% of total weight lost attributed to fat, while preserving lean mass [1][14] Safety Profile - The Phase 2b QUALITY clinical trial showed no increases in gastrointestinal side effects or drug-induced liver injury compared to placebo [3][4] - Adverse events related to gastrointestinal issues were lower in the enobosarm + semaglutide group compared to the placebo + semaglutide group [4][6] - No serious adverse events related to treatment were observed, and all reported adverse events were mild and returned to baseline levels [3][4][6] Efficacy Results - The trial met its primary endpoint with a statistically significant reduction in lean mass loss, showing a 71% relative reduction in lean mass loss for enobosarm + semaglutide compared to placebo + semaglutide [9][14] - Enobosarm 3mg + semaglutide showed a 99.1% mean relative reduction in lean mass loss, while the 6mg dose did not provide additional benefits [9][11] - The treatment also demonstrated a significant reduction in the percentage of patients experiencing a decline in stair climb power, indicating improved physical function [17] Regulatory Steps - Following the positive results from the Phase 2b study, the company has requested an End of Phase 2 meeting with the FDA to discuss the Phase 3 clinical program [1][16] - The proposed Phase 3 study will be a double-blind, placebo-controlled trial focusing on older patients with obesity or overweight, assessing the effects of enobosarm on physical function and body composition [19][20] Future Developments - The company is developing a novel modified release oral formulation of enobosarm, expected to enter Phase 1 bioavailability clinical trials in early 2025 [21] - The new formulation aims to be available for Phase 3 clinical studies and commercialization, with patent protection anticipated until 2045 [21]