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Veru Hires Advisor To Explore Alternatives For Female Health Business

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Vandana Singh
·1 min read
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  • Veru Inc (NASDAQ: VERU) has engaged Morgan Stanley as a financial advisor to pursue strategic alternatives for its legacy Female Healthcare Business.

  • "Furthermore, with the potential for five registration clinical trials in the calendar year 2021, four for oncology indications and one for COVID-19 it is clear that Veru has transformed itself into a premium, late-stage, clinical biopharmaceutical company, so the strategic fit with the FHC Business is not as strong as it once was," said Mitchell Steiner, M.D., Chairman, President, and Chief Executive Officer.

  • For the fiscal year 2020, the business reported net revenues of $41 million and gross profit of $29 million.

  • Its commercial product is the FC2 Female Condom/ FC2 Internal Condom, the only FDA-approved female condom.

  • Price Action: VERU shares are trading higher by 3% at $12.7 on the last check Monday.

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