VERU INC
For the period ended Jun 30, 2024. Filed Aug 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.
Jun 30, 2024 · Filed Aug 8, 2024
VERU$2.12-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| June 30, | ||
| 2024 | 2023 (Restated) | |
| OPERATING ACTIVITIES | ||
| Net loss | $(29,270,803) | $(85,020,577) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 203,033 | 199,690 |
| Impairment of intangible assets | — | 3,900,000 |
| Provision for credit losses | — | 3,911,714 |
| Noncash change in right-of-use assets | 575,661 | 556,475 |
| Noncash interest expense, net of interest paid | (69,304) | 1,832,092 |
| Gain on sale of ENTADFI® assets | (1,028,372) | (4,723,623) |
| Share-based compensation | 10,417,526 | 13,233,699 |
| Deferred income taxes | 227,931 | (213,172) |
| Change in fair value of derivative liabilities | (102,000) | (2,319,000) |
| Change in fair value of equity securities | 689,548 | — |
| Provision for obsolete inventory | 1,266,167 | 195,587 |
| Other | (2,592) | 290 |
| Changes in current assets and liabilities: | ||
| Decrease (increase) in accounts receivable | 2,864,445 | (4,729,697) |
| Decrease in inventories | 488,704 | 845,688 |
| (Increase) decrease in prepaid expenses and other assets | (609,130) | 7,030,293 |
| Decrease in accounts payable | (5,173,463) | (6,059,390) |
| Increase (decrease) in accrued expenses and other liabilities | 2,763,598 | (6,707,614) |
| Decrease in operating lease liabilities | (557,188) | (453,809) |
| Net cash used in operating activities | (17,316,239) | (78,521,354) |
| INVESTING ACTIVITIES | ||
| Cash proceeds from sale of ENTADFI® assets | 110,000 | 6,000,000 |
| Capital expenditures | (95,286) | (452,826) |
| Net cash provided by investing activities | 14,714 | 5,547,174 |
| FINANCING ACTIVITIES | ||
| Proceeds from stock option exercises | 3,280 | 336,610 |
| Proceeds from sale of shares under common stock purchase agreement | 1,661,490 | 3,426,991 |
| Proceeds from sale of shares in public offering, net of commissions and costs | 35,228,564 | — |
| Proceeds from sale of shares pursuant to Jefferies Sales Agreement, net of commissions | 66,551 | — |
| Payment of deferred equity financing issuance costs | — | (263,757) |
| Proceeds from sale of shares in a private investment in public equity, net of costs | — | 4,969,045 |
| Proceeds from premium finance agreement | — | 1,425,174 |
| Installment payments on premium finance agreement | (132,975) | (897,422) |
| Net cash provided by financing activities | 36,826,910 | 8,996,641 |
| Net increase (decrease) in cash | 19,525,385 | (63,977,539) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 9,625,494 | 80,190,675 |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | $29,150,879 | $16,213,136 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $506,907 | $387,748 |
| Schedule of non-cash investing and financing activities: | ||
| Equity securities received for sale of ENTADFI® assets | $918,372 | $— |
| Amortization of deferred costs related to common stock purchase agreement | $164,313 | $104,849 |
| Shares issued in connection with common stock purchase agreement | $— | $1,008,000 |
| Right-of-use asset recorded in exchange for lease liabilities | $— | $264,896 |
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