Start here if you're new
what it is
Veru develops late-stage drugs for weight-loss muscle loss and inflammation.
how it gets paid
Last year Veru made $17M in revenue. FC2 sales was the main engine at $11M, or 65% of sales.
what just happened
Quarterly revenue hit $0 and EPS was -$0.15.
At a glance
C++ balance sheet — some cracks in the foundation
20/100 earnings predictability — expect surprises
4.9% return on capital — nothing to write home about
-$1.07 fy2025 eps est
$6M fy2024 rev est
xvary composite: 31/100 — weak
What they do
Veru develops late-stage drugs for weight-loss muscle loss and inflammation.
You are betting on 2 late-stage programs, enobosarm and sabizabulin. late-stage → near the human-test finish line → so what: one trial can matter more than 210 employees. Leaving is painful because the whole story sits on a few readouts, not a big product shelf.
How they make money
$17M
annual revenue
FC2 sales
$11M
collaboration revenue
$4M
development services
$1M
other revenue
$1M
The products that matter
Phase 2b oncology-supportive candidate
Enobosarm
only clinical asset · interim data in Q1 2027
it's the entire thesis. If Q1 2027 interim data lands well, the current $38M valuation will look tiny. If it does not, the equity case breaks fast.
one-asset company
non-core legacy revenue sources
Collaboration / Other
$17M shown here · not durable
the presence of $17M in this line does not make Veru a real revenue story. against a -$1.07 EPS estimate and no stable product base, this is bridge revenue, not a business model.
not the bull case
sold or wound-down commercial assets
Legacy Assets
0 current product revenue
the company sold off its earlier commercial business. that simplifies the story, but it also means you are left with almost no diversification if enobosarm slips or fails.
optionality gone
Key numbers
$17M
annual revenue
You are looking at a $17M company by revenue. That is tiny enough that one trial update can change the whole market story.
-146.6%
operating margin
Operating margin → profit after running the business → so what: the company burns more than it brings in.
$2M
long-term debt
Debt → money owed to lenders → so what: the balance sheet is not the biggest problem, because trials are.
1.2
beta
Beta → how hard the stock moves versus the market → so what: expect about 20% more swing than the index.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $2M (6% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for VERU right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Quarterly revenue hit $0 and EPS was -$0.15.
That means the company sold nothing in the quarter and still lost money. The annual revenue base was $17M, so the pipeline still has to do all the work.
$0
revenue
-$0.15
eps
n/a
n/a
revenue
The number that mattered was $0 in quarterly revenue. No sales means the pipeline still has to do all the work.
source: company earnings report, 2026
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What could go wrong
The #1 risk is enobosarm Phase 2b failure or delay. With a $38M market cap and $33M in cash, there is not much else here for the stock to lean on.
med
Single-asset trial failure
Enobosarm is the only clinical asset that matters. Negative Q1 2027 interim data would hit 100% of the current thesis.
At a market cap just $5M above cash, the market already assumes very little pipeline value. Failure could still compress that last bit fast.
med
Cash burn before the catalyst
Veru reported $33M in cash and a recent quarterly net loss of $5.3M. That points to roughly six quarters of runway if losses stay near that level.
If spending rises or data slips, dilution becomes the obvious fix. Small biotech math is cruel that way.
med
Going concern pressure
The auditor's going concern language is not cosmetic. It is an explicit warning that financing risk is part of the story today, not later.
That kind of disclosure can keep a lid on valuation even when quarterly losses improve.
med
Class action overhang
A shareholder lawsuit from 2022 remains pending. It is not the core risk, but it adds another distraction for a company this small.
For a 20-person company, even minor legal baggage absorbs management time the business does not have to spare.
A delay or miss on enobosarm would matter more than almost any accounting metric on this page, because the business has no diversified earnings base to fall back on.
source: institutional data · regulatory filings · risk analysis
Pay attention to
clinical
Enobosarm Phase 2b interim data
Q1 2027 is the real catalyst. Until then, most quarter-to-quarter moves are setup, not resolution.
cash
Cash balance versus quarterly loss
$33M of cash against a recent $5.3M net loss is the simplest scoreboard on the page. If that gap worsens, financing risk moves closer.
trading
Price behavior inside the $2–$7 range
With price stability at 5 / 100, sentiment can swing harder than fundamentals. Watch whether the stock starts trading on data expectations rather than balance-sheet stress.
filings
Any sign of funding before data
A raise before Q1 2027 would tell you management does not want to gamble the runway. It may be necessary. It would still pressure current holders.
Analyst rankings
earnings predictability
20 / 100
in human-speak, analysts do not have a stable operating business to model here. expect revisions, noise, and wide error bars.
risk rank
5
This sits near the risky end of the scale. You are owning binary development risk, not a mature healthcare cash machine.
source: institutional data
Institutional activity
institutional ownership data for VERU is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
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