Veru Inc. reported a decrease in net revenues to $2.5 million and a gross profit decrease to $0.7 million for the first quarter of fiscal year 2023. The company is focused on seeking emergency authorization for sabizabulin and advancing clinical studies.
Net revenues decreased to $2.5 million from $14.1 million.
Gross profit decreased to $0.7 million from $11.8 million.
Operating loss was $35.6 million versus $5.0 million.
Net loss was $36.8 million, or $0.46 per share, compared to $6.4 million, or $0.08 per share.
Veru is awaiting regulatory decisions for sabizabulin and has implemented measures to conserve cash. Q2 FY 2023 sales are significantly improving.
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