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Biotech / Medical : Female Health FHCO

VERU 2.965

-1.5%

Oct 31 9:30 AM EST

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From: Savant	3/14/2023 2:38:10 PM
	of 211

Veru Inc. said Tuesday it may be forced to delay, reduce or eliminate clinical-trials if it doesn't raise large amounts of capital. The biopharmaceutical company said additional capital is needed to support the development and commercialization efforts for its drug candidates, including the phase 3 Covid-19 confirmatory study for certain Covid-19 patients. In order to satisfy its financial needs, Veru may also need to seek stockholder approval to increase the number of authorized shares it can put up for sale, as the limit is currently set at 154 million shares, it said. Additionally, Veru said revenue from sales of its FC2 female condom may not return to past levels, as they have declined significantly in recent periods, particularly in the U.S. prescription channel.

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