VERU — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-13

• During the three months ended March 31, 2026, the Company recognized an additional gain on sale of the FC2 business of $351,000, which is for net proceeds received from the Purchaser in the settlement of a dispute related to a pre-closing tax receivable and liability.

• The FC2 Business Sale represented a strategic shift, which had a major effect on our operations and financial results. We have classified all direct revenues, costs and expenses related to the FC2 business within loss from discontinued operations, net of tax, in the condensed consolidated statements…

• Research and development expenses decreased to $3.1 million in the three months ended March 31, 2026 from $3.9 million in the same period in fiscal 2025. The decrease in research and development expenses is primarily due to reduced personnel costs, driven by lower share-based compensation expense.

• The Company recorded a gain on sale of ENTADFI assets of $1.0 million in the three months ended March 31, 2025. The Company recognized a gain on sale of ENTADFI assets as nonrefundable consideration was received from the ONCO Promissory Notes. The ONCO Promissory Notes were settled in fiscal 2025 so…

• The Company also recorded a gain from the increase in fair value of equity securities of $3.9 million in the three months ended March 31, 2026. The increase in fair value was driven by realized gain from the conversion of the ONCO Series D Preferred Stock and sale of the underlying ONCO common stock…

Text removed vs the prior filing · source: 10-Q · 2026-02-11

• The FC2 Business Sale represented a strategic shift, which had a major effect on our operations and financial results. We have classified all direct revenues, costs and expenses related to the FC2 business within loss from discontinued operations, net of tax, in the condensed consolidated statements…

• Research and development expenses decreased to $1.3 million in the three months ended December 31, 2025 from $5.7 million in the same period in fiscal 2024. The decrease in research and development expenses is due primarily to the wind down of the Company’s Phase 2b QUALITY clinical study for enobos…

• Gain on extinguishment of debt of $8.6 million was recognized during the three months ended December 31, 2024, related to the termination of the Residual Royalty Agreement, in connection with the FC2 Business Sale. The gain was the difference between the change of control payment of $4.2 million and…

• The Company recorded a gain on sale of ENTADFI assets of $0.7 million in the three months ended December 31, 2024. The Company recognized a gain on sale of ENTADFI assets as nonrefundable consideration was received from the ONCO Promissory Notes. The ONCO Promissory Notes are now settled so no addit…

• The Company recorded a net loss from discontinued operations, net of taxes, related to the FC2 business of $7.1 million for the three months ended December 31, 2024. The net loss from discontinued operations during the three months ended December 31, 2024 is attributable to the operations of the FC2…

Text added vs the prior filing · source: 10-Q · 2026-05-13

• We will need to raise additional capital to fund our operations and development programs in the future, and the SEC “baby shelf” rule may limit our ability to raise sufficient capital when needed.

• We are not profitable and have had negative cash flow from operations. We will need large amounts of capital to support our development and commercialization efforts for our drug candidates. Our existing cash, cash equivalents, and restricted cash as of the date of this report may not be sufficient …

• Under current SEC regulations, because our public float is less than $75 million, and for so long as our public float remains less than $75 million, the amount we can raise through primary public offerings of securities in any 12-month period using shelf registration statements is limited to an aggr…

• If access to sufficient capital is not available as and when needed, our business will be materially impaired, and we may be required to cease operations, curtail one or more product development programs, scale back or eliminate the development of business opportunities, or significantly reduce expe…