VERU INC
For the period ended Mar 31, 2024. Filed May 8, 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.
Mar 31, 2024 · Filed May 8, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended March 31, 2024
| ¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission File Number 1-13602
Veru Inc.
(Exact Name of Registrant as Specified in its Charter)
| Wisconsin | 39-1144397 |
|---|---|
| (State of Incorporation) | (I.R.S. Employer Identification No.) |
| 2916 N. Miami Avenue, Suite 1000, Miami, FL | 33127 |
| (Address of Principal Executive Offices) | (Zip Code) |
305-509-6897
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.01 par value per share | VERU | Nasdaq Capital Market |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yesx No¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yesx No¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ¨ | Accelerated filer ¨ |
|---|---|
| Non-accelerated filer x | Smaller reporting companyx |
| Emerging growth company¨ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the registrant is a shell company (as determined by Rule 12b-2 of the Exchange Act). Yes¨ Nox
As of May 6, 2024, the registrant had 146,383,920 shares of $0.01 par value common stock outstanding.
INDEX
| PAGE | |
|---|---|
| Forward Looking Statements | 3 |
| PART I. FINANCIAL INFORMATION | |
| Item 1. Financial Statements | 6 |
| Unaudited Condensed Consolidated Balance Sheets | 6 |
| Unaudited Condensed Consolidated Statements of Operations | 7 |
| Unaudited Condensed Consolidated Statements of Stockholders’ Equity | 8 |
| Unaudited Condensed Consolidated Statements of Cash Flows | 9 |
| Notes to Unaudited Condensed Consolidated Financial Statements | 10 |
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations | 30 |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk | 45 |
| Item 4. Controls and Procedures | 46 |
| PART II. OTHER INFORMATION | |
| Item 1. Legal Proceedings | 48 |
| Item 1A. Risk Factors | 49 |
| Item 6. Exhibits | 51 |
FORWARD LOOKING STATEMENTS
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.