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Sep 30, 2021
Veru Q4 2021 Earnings Report
Reported record fiscal year revenue and progress in clinical programs.
Key Takeaways
Veru Inc. reported a 33% increase in net revenues for the fourth quarter of fiscal year 2021, reaching $15.6 million compared to $11.7 million in the same period of the previous year. The company's gross profit also increased by 29% to $12.3 million. The company is advancing its drug pipeline, particularly in breast and prostate cancer treatments, and is awaiting the PDUFA date for ENTADFI.
Net revenues increased by 33% to $15.6 million compared to the previous year.
FC2 prescription net revenues climbed 55% to $13.6 million.
Gross profit increased by 29% to $12.3 million.
Operating loss was $1.9 million, improved from $11.3 million in the prior year which included a non-cash impairment charge.
Veru
Veru
Forward Guidance
Veru anticipates continued progress in its clinical trials for breast and prostate cancer programs and awaits the FDA's decision on ENTADFI.
Positive Outlook
- Potential FDA approval of ENTADFI.
- Advancement of breast and prostate cancer drug pipeline.
- Phase 3 study of Sabizabulin for COVID-19 treatment with potential for significant impact.
- Partnership with Roche/Ventana Diagnostics for companion diagnostic AR test.
- Strong financial results enabling continued investment in oncology drug pipeline.
Challenges Ahead
- Risk of unsuccessful clinical study results.
- Uncertainty regarding FDA approval of drug candidates.
- Potential impact of COVID-19 vaccine distribution on the need for new treatments.
- Reliance on international partners and government spending.
- Potential delays in orders or shipments affecting operating results.