VERU INC
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Apr 1, 2024
VERU$2.12-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| December 31, | ||
| 2023 | 2022 (Restated) | |
| OPERATING ACTIVITIES | ||
| Net loss | $(8,275,981) | $(38,708,957) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 72,129 | 63,218 |
| Noncash change in right-of-use assets | 198,747 | 186,132 |
| Noncash interest expense, net of interest paid | (28,147) | 743,919 |
| Gain on sale of ENTADFI® assets | (918,372) | — |
| Share-based compensation | 3,406,949 | 4,845,269 |
| Deferred income taxes | (81,286) | (103,819) |
| Change in fair value of derivative liabilities | 2,000 | 670,000 |
| Change in fair value of equity securities | 379,898 | — |
| Other | 12,958 | 2,921 |
| Changes in current assets and liabilities: | ||
| Decrease in accounts receivable | 2,123,571 | 400,585 |
| Increase in inventories | (201,814) | (116,604) |
| (Increase) decrease in prepaid expenses and other assets | (1,340,373) | 656,817 |
| Decrease in accounts payable | (2,495,250) | (11,436,432) |
| Increase in accrued expenses and other current liabilities | 1,295,516 | 8,367,220 |
| Decrease in operating lease liabilities | (170,934) | (104,297) |
| Net cash used in operating activities | (6,020,389) | (34,534,028) |
| INVESTING ACTIVITIES | ||
| Capital expenditures | — | (285,565) |
| Net cash used in investing activities | — | (285,565) |
| FINANCING ACTIVITIES | ||
| Proceeds from stock option exercises | — | 257,132 |
| Proceeds from sale of shares under common stock purchase agreement | 1,661,490 | — |
| Proceeds from sale of shares in public offering, net of commissions and costs | 35,378,888 | — |
| Proceeds from sale of shares pursuant to Jefferies Sales Agreement, net of commissions | 66,551 | — |
| Proceeds from premium finance agreement | — | 1,425,174 |
| Installment payments on premium finance agreement | (132,975) | (126,201) |
| Net cash provided by financing activities | 36,973,954 | 1,556,105 |
| Net increase (decrease) in cash | 30,953,565 | (33,263,488) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 9,625,494 | 80,190,675 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $40,579,059 | $46,927,187 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $193,104 | $129,311 |
| Schedule of non-cash investing and financing activities: | ||
| Equity securities received for sale of ENTADFI® assets | $918,372 | $— |
| Costs related to public offering in accounts payable or accrued expenses and other current liabilities | $149,473 | $— |
| Amortization of deferred costs related to common stock purchase agreement | $164,313 | $— |
| See notes to unaudited condensed consolidated financial statements. | ||
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