Veru Inc. Q1 2025 Financials: Assets $148.6M, Equity $146.4M
Ticker: VERU · Form: 10-Q · Filed: Feb 13, 2025 · CIK: 863894
Sentiment: neutral
Topics: financials, 10-Q, balance-sheet
TL;DR
Veru Inc. Q1 2025: Assets $148.6M, Liabilities $2.2M, Equity $146.4M. Solid balance sheet.
AI Summary
Veru Inc. reported its first quarter results for the period ending December 31, 2024. The company's total assets were $148,567,624, with total liabilities of $2,183,704. Total equity stood at $146,383,920. The filing covers the period from October 1, 2024, to December 31, 2024.
Why It Matters
This filing provides a snapshot of Veru Inc.'s financial health at the end of Q1 2025, crucial for investors assessing the company's stability and asset base.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated.
Key Numbers
- $148.6M — Total Assets (As of December 31, 2024)
- $2.2M — Total Liabilities (As of December 31, 2024)
- $146.4M — Total Equity (As of December 31, 2024)
Key Players & Entities
- VERU INC. (company) — Filer
- 20241231 (date) — Period of Report
- 20250213 (date) — Filing Date
- $148,567,624 (dollar_amount) — Total Assets
- $2,183,704 (dollar_amount) — Total Liabilities
- $146,383,920 (dollar_amount) — Total Equity
FAQ
What were Veru Inc.'s total assets as of December 31, 2024?
Veru Inc.'s total assets were $148,567,624 as of December 31, 2024.
What were Veru Inc.'s total liabilities as of December 31, 2024?
Veru Inc.'s total liabilities were $2,183,704 as of December 31, 2024.
What was Veru Inc.'s total equity as of December 31, 2024?
Veru Inc.'s total equity was $146,383,920 as of December 31, 2024.
For what period is this 10-Q filing reporting?
This 10-Q filing reports for the period ending December 31, 2024, covering October 1, 2024, to December 31, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on February 13, 2025.
Filing Stats: 4,348 words · 17 min read · ~14 pages · Grade level 18.9 · Accepted 2025-02-13 14:35:28
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share VERU Nasdaq Cap
Filing Documents
- veru20241231_10q.htm (10-Q) — 1336KB
- ex_775143.htm (EX-10.1) — 17KB
- ex_758046.htm (EX-31.1) — 9KB
- ex_758047.htm (EX-31.2) — 9KB
- ex_758048.htm (EX-32.1) — 6KB
- 0001437749-25-003734.txt ( ) — 6795KB
- veru-20241231.xsd (EX-101.SCH) — 61KB
- veru-20241231_cal.xml (EX-101.CAL) — 58KB
- veru-20241231_def.xml (EX-101.DEF) — 489KB
- veru-20241231_lab.xml (EX-101.LAB) — 404KB
- veru-20241231_pre.xml (EX-101.PRE) — 509KB
- veru20241231_10q_htm.xml (XML) — 899KB
Forward Looking Statements
Forward Looking Statements 3
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 5 Unaudited Condensed Consolidated Balance Sheets 5 Unaudited Condensed Consolidated Statements of Operations 6 Unaudited Condensed Consolidated Statements of Stockholders ' Equity 7 Unaudited Condensed Consolidated Statements of Cash Flows 8 Notes to Unaudited Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 36
Controls and Procedures
Item 4. Controls and Procedures 37
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 37
Risk Factors
Item 1A. Risk Factors 38
Exhibits
Item 6. Exhibits 64 2 Table of Contents
FORWARD LOOKING STATEMENTS
FORWARD LOOKING STATEMENTS Certain statements included in this quarterly report on Form 10-Q which are not statements of historical fact are intended to be, and are hereby identified as, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our financial condition or business, our development and commercialization plans relating to our product candidates and products, including any potential development or commercialization of enobosarm initially as a treatment to augment fat loss and to prevent muscle loss in sarcopenic obese or overweight elderly patients receiving a glucagon-like peptide-1 receptor agonist ("GLP-1 RA") who are at-risk for developing muscle weakness and sabizabulin to treat cardiovascular atherosclerotic disease to reduce major cardiovascular events, future financial and operating results, plans, objectives, expectations and intentions, costs and expenses, royalty payments, outcome of litigation and other contingencies, financial condition, results of operations, liquidity, cost savings, our ability to continue as a going concern, objectives of management, business strategies, clinical trial timing, plans and results, the achievement of clinical and commercial milestones, the advancement of our technologies and our products and drug candidates, and other statements that are not historical facts. Forward-looking statements can be identified by the use of forward-looking words or phrases such as "anticipate," "believe," "could," "expect," "intend," "may," "opportunity," "plan," "predict," "potential," "estimate," "should," "will," "would" or the negative of these terms or other words of similar meaning. These statements are based upon the Company's current plans and strategies and reflect the Company's current assessment of the risks and uncertainties related to its business and are made as of the date of this report. These statement
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements VERU INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS December 31, September 30, 2024 2024 Assets Current assets: Cash, cash equivalents, and restricted cash $ 26,607,002 $ 24,916,285 Prepaid expenses and other current assets 1,773,134 1,547,928 Current assets of discontinued operations — 8,759,011 Total current assets 28,380,136 35,223,224 Property and equipment, net 452,043 481,372 Operating lease right-of-use assets 3,127,887 3,250,623 Goodwill 6,878,932 6,878,932 Other assets 989,596 989,596 Long-term assets of discontinued operations — 13,595,025 Total assets $ 39,828,594 $ 60,418,772 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,994,645 $ 2,259,668 Accrued research and development costs 1,572,429 120,448 Accrued compensation 1,503,233 4,494,278 Accrued expenses and other current liabilities 535,472 549,237 Residual royalty agreement liability, short-term portion — 1,025,837 Operating lease liability, short-term portion 742,449 736,970 Current liabilities of discontinued operations — 2,681,530 Total current liabilities 6,348,228 11,867,968 Residual royalty agreement liability, long-term portion — 8,850,792 Operating lease liability, long-term portion 2,775,190 2,905,309 Other liabilities 4,078,187 4,461,920 Long-term liabilities of discontinued operations — 16,071 Total liabilities 13,201,605 28,102,060 Commitments and contingencies (Note 12) Stockholders' equity: Preferred stock; no shares issued and outstanding at December 31, 2024 and September 30, 2024 — — Common stock, par value $ 0.01 per share; 308,000,000 shares authorized, 148,567,624 issued and 146,383,920 shares outstanding at December 31, 2024 and September 30, 2024 1,485,676 1,485,676 Additional paid-in-capital 336,462,900 333,788,795 Accumulated other comprehensive loss — ( 581,519 ) Accumulated deficit ( 303,514,982 ) ( 294,569,635