VERU · Veru Inc.

Veru’s fiscal 2026 second quarter results reflect disciplined cost management, with R&D expenses down 20.5% and G&A down 21.2% year-over-year—consistent with the company’s stated prioritization of funding the PLATEAU Phase 2b trial. The $7.2M operating loss and $2.7M net loss represent meaningful improvements over the prior-year quarter’s $8.1M operating loss and $7.9M net loss, driven entirely by expense reductions rather than revenue generation (no revenue is disclosed, aligning with Veru’s late-stage biopharma profile). Management commentary emphasizes clinical execution: the PLATEAU trial—a double-blind, placebo-controlled study in ~200 patients aged ≥65 with obesity (BMI ≥35) on semaglutide—is actively enrolling and remains on track for a 36-week interim analysis (lean/fat mass via DXA) in Q1 2027, followed by topline 68-week data in Q4 2027. The trial’s design explicitly builds on the positive Phase 2b QUALITY study, which demonstrated enobosarm’s ability to preserve lean mass and physical function during active semaglutide treatment. With $27.6M in cash as of March 31, 2026—up $11.8M from September 30, 2025—the company appears sufficiently funded to reach the PLATEAU interim readout, though longer-term runway depends on future financing or partnerships, particularly given the explicit statement that sabizabulin advancement is contingent on securing additional capital. No financial guidance was issued, and all forward-looking statements pertain solely to clinical timelines and development assumptions—not earnings or cash burn projections.