Joint Bookrunner on Veru Inc.'s Follow-On Offering

Oppenheimer & Co. Inc. acted as Joint Bookrunner on Veru Inc.'s $37,950,000 Confidentially Marketed Follow-On Offering

Veru Inc. (“Veru”) (Nasdaq: VERU), a late clinical stage biopharmaceutical company focused on developing novel medicines for the treatment of metabolic diseases and cancer, announced the pricing of its underwritten public offering of 45,833,333 shares of its common stock at a price of $0.72 per share on Thursday. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $33.0 million. Veru granted the underwriters a 30-day option to purchase up to 6,874,999 additional shares of common stock at the public offering price, less underwriting discounts and commissions; the underwriters have exercised this option in full, resulting in a total offering size of $38.0 million.

Veru recently announced pipeline reprioritization plans and will be advancing its proprietary novel agent, enobosarm, a selective androgen receptor modulator (SARM), into a Phase 2b clinical trial in combination with GLP-1 weight loss drugs to evaluate its safety and efficacy to further increase fat loss while preventing the significant muscle wasting that may occur with GLP-1 weight loss drugs.