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Here are 1-3 brief analogies for Veru:

• Like a smaller Bristol Myers Squibb, but zeroing in on new treatments for prostate and breast cancer.
• A biotech company similar to a focused Amgen, but dedicated to developing drugs for oncology and urology.
• A specialized biopharma company, much like a niche AstraZeneca, developing novel medicines for prostate and breast cancers.

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• Sabizabulin: An oral, first-in-class selective microtubule disruptor currently in development for metastatic castration-resistant prostate cancer.
• Enobosarm: An oral, novel selective androgen receptor modulator (SARM) in development for metastatic estrogen receptor-positive, HER2-negative breast cancer.

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Veru Inc. (VERU) is a biopharmaceutical company focused on developing novel medicines for oncology and urology. Its primary revenue-generating product has historically been the FC2 Female Condom.

Veru's major customers for the FC2 Female Condom are not other publicly traded companies with stock symbols, nor does it sell primarily to individuals. Instead, its primary customers are organizational entities. Therefore, specific company names and symbols fitting the "public companies" criterion cannot be provided.

Based on Veru's SEC filings, its major customers for the FC2 Female Condom fall into the following categories:

• Governmental Organizations: This category includes U.S. and foreign governmental agencies, national health ministries, and departments of health that procure the FC2 Female Condom for public health and family planning programs.
• Non-Governmental Organizations (NGOs): These are non-profit organizations, often global in scope, that focus on public health, family planning, and women's reproductive health initiatives. They distribute the FC2 Female Condom as part of their programs, particularly in developing countries.

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• Ajinomoto Bio-Pharma Services (parent company: Ajinomoto Co., Inc., TYO: 2802)
• Recipharm AB
• Neuland Laboratories Limited (NSE: NEULANDLAB)
• Dongguan Xinhuiwang Medical Equipment Co., Ltd.
• Suretex Limited
• Meditech Medical (Guangzhou) Co., Ltd.

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Mitchell S. Steiner, M.D., F.A.C.S. Chairman, President, and Chief Executive Officer

Dr. Steiner has served as President and Chief Executive Officer of Veru Inc. since October 2016 and as Chairman of the Board since March 2018. He was a co-founder of Aspen Park Pharmaceuticals, Inc., where he served as Chief Executive Officer, President, and Vice Chairman of the Board from July 2014 to October 2016. From 2014 to 2016, Dr. Steiner was also the President of Urology at OPKO Health, Inc., with responsibilities for the launch, marketing, sales, and reimbursement of the 4Kscore prostate cancer test. Additionally, he co-founded GTx, Inc., a men's health and oncology public company, and held the roles of Chief Executive Officer and Vice Chairman of the Board of Directors from 1997 to 2014.

Michele Greco Chief Financial Officer and Chief Administrative Officer

Michele Greco has been the Chief Financial and Administrative Officer at Veru, Inc. since 2018. She previously served as CFO, Executive Vice President, and Head of Investor Relations at Veru, Inc. from 2013 to 2016. Prior to joining Veru, Ms. Greco was an Audit Partner at Ernst & Young LLP from 1981 to 2009. She also held the position of Chief Financial Officer & Executive Vice President at The Female Health Co. Ltd. from 2014 to 2016.

K. Gary Barnette, Ph.D. Chief Scientific Officer

Dr. K. Gary Barnette is the Chief Scientific Officer of Veru. Before joining Veru, he was the Senior Vice President of Scientific and Regulatory Affairs at Camargo Pharmaceutical Services, LLC, from 2012 to 2018, where he was responsible for developing scientific and regulatory drug development strategies across various therapeutic areas. From 2000 to 2012, Dr. Barnette held several positions at GTx, Inc., including Vice President, Clinical Development Strategy, managing responsibilities in regulatory, clinical, and clinical pharmacology for drug development in urology and cancer supportive care. He also worked as a Clinical Pharmacology and Biopharmaceutics Reviewer at the U.S. FDA.

Michael J. Purvis Executive Vice President, General Counsel & Corporate Strategy

Michael J. Purvis joined Veru as Executive Vice President, General Counsel & Corporate Strategy in March 2021. With 25 years of legal experience, he previously served as Vice President & Assistant General Counsel at Incyte Corp. from 2015 to 2021. Before Incyte, he was Senior Associate General Counsel & Assistant Secretary at Auxilium Pharmaceuticals, where he oversaw disclosure, securities law matters, strategic transactions, and corporate matters leading up to Auxilium's successful acquisition by Endo Pharmaceuticals. He also held a Senior Counsel role at Susquehanna International Group LLP from 2003 to 2009, where he supported the healthcare research group and helped establish investment banking and private equity departments.

Harry Fisch, M.D., F.A.C.S. Vice Chairman, Chief Corporate Officer

Dr. Harry Fisch serves as the Vice Chairman and Chief Corporate Officer of Veru. He was also a co-founder of Aspen Park Pharmaceuticals, Inc.

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Veru Inc. (VERU) faces several critical risks to its business, primarily driven by its position as a late-clinical-stage biopharmaceutical company focused on drug development.

1. Financial Constraints and Going Concern Risk: Veru is confronting significant financial challenges, including sustained net losses, negative operating margins, and a substantial need for additional capital to fund its ongoing and future drug development initiatives. The company has even expressed "substantial doubt regarding the ability to continue as a going concern due to lack of revenue and need for additional financing." This overarching financial instability impacts its ability to sustain operations and advance its clinical pipeline.
2. Regulatory and Clinical Trial Risks: As a biopharmaceutical company, Veru's success is highly dependent on the successful completion of clinical trials and obtaining regulatory approvals for its drug candidates, such as enobosarm and sabizabulin. The company faces inherent risks of potential delays in clinical trials, unfavorable trial outcomes, or the inability to secure necessary regulatory approvals. A notable example includes the FDA's Pulmonary-Allergy Drugs Advisory Committee voting against granting Emergency Use Authorization for sabizabulin in the past.
3. Market and Commercialization Risks: Even if Veru's drug candidates receive regulatory approval, the company faces risks related to market acceptance and intense competition. For its lead asset, enobosarm, which aims to complement GLP-1 agonists for weight loss, there is competition within the rapidly expanding obesity treatment market. Additionally, the company's limited experience in obtaining regulatory approvals and commercializing drugs presents further challenges in bringing products successfully to market and achieving profitability.

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The emergence and increasing adoption of Lutetium-177 PSMA-617 (Pluvicto) as a highly effective radioligand therapy for metastatic castration-resistant prostate cancer (mCRPC) presents a clear emerging threat. Pluvicto was approved by the FDA in March 2022 for PSMA-positive mCRPC patients who have previously been treated with androgen receptor pathway inhibition and taxane-based chemotherapy, directly targeting the same advanced patient population that Veru's lead oncology asset, sabizabulin, aimed to serve. This novel therapy offers a different mechanism of action and has demonstrated significant clinical benefit, thereby intensifying the competitive landscape and potentially limiting the market opportunity for new drugs like sabizabulin in later lines of mCRPC treatment.

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Veru Inc.'s addressable markets for its main products are as follows:

Enobosarm

• Indication: Treatment to augment fat loss and prevent muscle loss in sarcopenic obese or overweight older patients receiving GLP-1 receptor agonists for weight reduction.
• Addressable Market Size: The global obesity drug market is estimated to exceed $100 billion by 2030. Within the U.S. alone, approximately 30 million obese adults also suffer from sarcopenia and are Veru's primary target population, particularly those using GLP-1 therapies who risk accelerated muscle weakness. The Centers for Disease Control and Prevention (CDC) reports that 41.5% of older adults have obesity, and up to 34.4% of those over 60 in the United States with obesity also have sarcopenic obesity.
• Region: Global (for overall obesity drug market) and U.S. (for specific patient population).

Sabizabulin

• Indication: Treatment for hospitalized adult patients with any type of viral Acute Respiratory Distress Syndrome (ARDS).
• Addressable Market Size: null
• Region: null

• Indication: Broad anti-inflammatory agent to reduce inflammation to slow the progression or promote the regression of atherosclerotic cardiovascular disease.
• Addressable Market Size: null
• Region: null

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Share Issuance

• Veru completed a public offering in October/November 2025, pricing a $25 million offering of common stock and warrants, with approximately $23.4 million in net proceeds, aimed at funding clinical development and general corporate obligations.
• The company executed a 1-for-10 reverse stock split on August 11, 2025, which significantly reduced the number of outstanding shares from approximately 14.6 million at September 30, 2024, to about 1.46 million by November 2025.
• Prior to the August 2025 reverse stock split, Veru's shares outstanding increased from approximately 7.03 million in 2020 to 14.63 million in 2024, indicating share issuances during this period.

Capital Expenditures

• Veru reported minimal capital expenditures, with figures as low as $644 and $1,913 in some condensed consolidated statements of cash flows, indicating very limited investment in physical assets during those periods.
• The company's primary focus is on drug development, with research and development costs expensed as incurred, suggesting that capital is primarily allocated to its drug pipeline rather than large physical capital assets.