VERU INC.
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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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, 2024 · Filed Feb 13, 2025
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
| Three Months Ended | ||
|---|---|---|
| December 31, | ||
| 2024 | 2023 | |
| OPERATING ACTIVITIES | ||
| Net loss | $(8,945,347) | $(8,275,981) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 64,870 | 72,129 |
| Noncash change in right-of-use assets | 199,580 | 198,747 |
| Noncash interest expense, net of interest paid | (168,556) | (28,147) |
| Gain on extinguishment of debt | (8,624,778) | — |
| Loss on sale of FC2 business | 4,204,435 | — |
| Gain on sale of ENTADFI® assets | (695,216) | (918,372) |
| Share-based compensation | 2,674,105 | 3,406,949 |
| Deferred income taxes | (1,915) | (81,286) |
| Change in fair value of derivative liabilities | 3,138,316 | 2,000 |
| Change in fair value of equity securities | 349,078 | 379,898 |
| Other | (72,831) | 12,958 |
| Changes in current assets and liabilities: | ||
| (Increase) decrease in accounts receivable | (657,253) | 2,123,571 |
| Decrease (increase) in inventories | 863,928 | (201,814) |
| Increase in prepaid expenses and other assets | (511,038) | (1,340,373) |
| Decrease in accounts payable | (1,282,454) | (2,495,250) |
| (Decrease) increase in accrued expenses and other liabilities | (1,643,235) | 1,295,516 |
| Decrease in operating lease liabilities | (224,676) | (170,934) |
| Net cash used in operating activities | (11,332,987) | (6,020,389) |
| INVESTING ACTIVITIES | ||
| Proceeds from sale of FC2 business, net of costs | 16,157,965 | — |
| Cash proceeds from sale of ENTADFI® assets | 695,216 | — |
| Proceeds from sale of equity securities | 393,217 | — |
| Capital expenditures | (1,083) | — |
| Net cash provided by investing activities | 17,245,315 | — |
| FINANCING ACTIVITIES | ||
| Payment on extinguishment of residual royalty agreement liabilities | (4,221,611) | — |
| 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 |
| Installment payments on premium finance agreement | — | (132,975) |
| Net cash (used in) provided by financing activities | (4,221,611) | 36,973,954 |
| Net increase in cash, cash equivalents, and restricted cash | 1,690,717 | 30,953,565 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD | 24,916,285 | 9,625,494 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD | $26,607,002 | $40,579,059 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $332,826 | $193,104 |
| 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 |
| Costs related to public offering in accounts payable or accrued expenses and other current liabilities | $— | $149,473 |
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