Veru to Host Investor Call on January 4th, 2024 to Discuss Recent Financing and Strategy to Prioritize the Development of Enobosarm as a Combination Treatment to Prevent Muscle Loss and Augment Fat Loss Associated with Weight Loss GLP-1 Drugs

MIAMI, FL, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Veru Inc. (NASDAQ: VERU), a late clinical stage biopharmaceutical company focused on developing novel medicines for the treatment of obesity, oncology, and viral induced acute respiratory distress syndrome, today announced it will host an investor conference call and audio webcast on Thursday, January 4, 2024, at 8:00 a.m. ET to discuss the recent financing and the Company’s strategy to prioritize the development of enobosarm for weight loss as well as provide an update on the Company’s drug pipeline.

“Veru is a late clinical stage biopharmaceutical company focusing on developing novel medicines for the treatment of obesity and oncology. We have made a major change on the clinical development of enobosarm, our novel small molecule, first-in-class oral selective androgen receptor modulator. Enobosarm has demonstrated the ability to decrease fat mass, increase muscle mass, and improve muscle strength and physical function in 5 clinical studies involving 968 older men and postmenopausal women with and without muscle wasting. Because of these clinical attributes, enobosarm is being developed as an obesity treatment to augment fat loss while preventing muscle loss initially in sarcopenic obese or overweight elderly patients receiving a glucagon-like peptide-1 receptor agonist (GLP-1 RA) drug for weight loss who are at-risk for developing muscle atrophy and muscle weakness,” said Mitchell S. Steiner, MD, Chairman, CEO and President of Veru Inc. “We plan to conduct a Phase 2b multicenter, double-blind, placebo-controlled, randomized, dose-finding clinical trial designed to evaluate enobosarm 3mg, 6mg, or placebo in approximately 75 sarcopenic obese or overweight elderly patients receiving a GLP-1 RA for weight loss, with the first clinical data expected from the clinical trial in Q4 2024. Our recent financing should provide us with sufficient resources to reach beyond the clinical milestones associated with the Phase 2b enobosarm for obesity clinical trial.”

The audio webcast will be accessible under “Investor Kit” in the Investors page of the Company’s website at . To join the conference call via telephone, please dial 1-800-341-1602 (domestic) or 1-412-902-6706 (international) and ask to join the Veru Inc. call. An archived version of the audio webcast will be available for replay on the Company’s website for approximately three months. A telephonic replay will be available on January 4, 2024 at approximately 12:00 p.m. ET by dialing 1-877-344-7529 (domestic) or 1-412-317-0088 (international), passcode 7752713, for one week.

About Veru Inc.

Veru Inc. is a late clinical stage biopharmaceutical company focused on developing novel medicines for the treatment of obesity, oncology, and viral induced acute respiratory distress syndrome.

Forward-Looking Statements

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, express or implied statements related to Veru’s expectations regarding the planned use of proceeds from the offering, whether those proceeds will be sufficient for the Company to complete the planned phase 2b trial of enobosarm discussed above, whether the Company will be successful in its transformation into a late stage biopharmaceutical company focused on obesity and oncology, and the planned timing and design of the planned phase 2b trial of enobosarm, The words "anticipate," "believe," "could," "expect, " "intend," "may," "opportunity," "plan," "predict," "potential," "estimate," "should, " "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based upon current plans and strategies of Veru Inc. (the Company) 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 press release. The Company assumes no obligation to update any forward- looking statements contained in this press release because of new information or future events, developments or circumstances. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions, and if any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our actual results could differ materially from those expressed or implied by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, uncertainties related to market conditions and the satisfaction of customary closing conditions related to the proposed public offering and the Company’s expectations regarding the completion, timing and size of the proposed public offering and the use of proceeds therefrom. This list is not exhaustive and other risks are detailed in the Company’s periodic reports filed with the SEC, including the Company's Form 10-K for the year ended September 30, 2023.

Investor Contact:

Samuel Fisch

Executive Director, Investor Relations and Corporate Communications

Email: