Veru narrows loss as obesity drug trial approaches key milestone

Veru (NASDAQ:VERU) reported a significantly narrowed operating loss for the first fiscal quarter, as the biopharmaceutical firm pivots its resources toward a high-stakes clinical trial for its muscle-preserving obesity treatment.

The Miami-based company posted a net loss of $5.3 million, or $0.26 per share, for the period ended Dec. 31, 2025.

This marks a sharp improvement from the previous year, driven by reduced spending following the wind-down of earlier clinical phases.

Veru ended the quarter with $33 million in cash, a cushion bolstered by recent capital raises intended to fund its upcoming PLATEAU trial.

That study, a Phase 2b trial involving approximately 200 patients, is slated to begin this quarter.

It will evaluate enobosarm in combination with Novo Nordisk A/S’s semaglutide (Wegovy).

The goal is to address the "weight-loss plateau" often seen in GLP-1 patients while preventing the loss of muscle mass—a side effect that has become a primary concern for regulators and clinicians.

The FDA has provided Veru with two distinct regulatory pathways: achieving a 5% placebo-corrected weight loss benchmark or demonstrating significant improvements in physical function and bone mineral density.