Veru prices $25 million public offering at $3 per share

Veru Inc. (NASDAQ: VERU) announced the pricing of an underwritten public offering expected to generate approximately $25.2 million in gross proceeds before fees and expenses.

The biopharmaceutical company priced 1.4 million common shares, pre-funded warrants for up to 7 million shares, and accompanying Series A and Series B warrants for up to 8.4 million shares each at $3.00 per combined unit. Pre-funded warrant units are priced at $2.999.

The offering is expected to close October 31, 2025, subject to customary closing conditions. Canaccord Genuity LLC and Oppenheimer & Co. Inc. serve as joint book-running managers.

If all warrants are exercised at their exercise price, Veru would receive additional gross proceeds of approximately $50.4 million before expenses.

The company plans to use net proceeds primarily to fund development of enobosarm, focusing on Phase 2b PLATEAU clinical study activities. Additional funds will support working capital needs, vendor obligations, and general corporate purposes including potential development partnerships for enobosarm.

The securities are being offered under a shelf registration statement filed with the Securities and Exchange Commission in March 2023 and declared effective in April 2023.

Veru develops medicines for cardiometabolic and inflammatory diseases and is based in Miami.

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