NEW YORK, Dec. 17, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that a class action lawsuit has been filed against Veru Inc. (“Veru” or the “Company”) VERU in the United States Southern District Court of Florida on behalf of all individuals and entities who purchased or otherwise acquired securities of Veru between May 11, 2022 and November 9, 2022, both dates inclusive (the “Collection Period”). Investors have until February 3, 2023 to petition the court to appoint a lead plaintiff in the lawsuit.

click here to take part in the action.

Veru is primarily an oncology-based biopharmaceutical company developing drugs to treat breast and prostate cancer. Veru is also developing medicines for COVID-19 and other diseases associated with viral and acute respiratory distress syndrome (“ARDS”) and has two FDA-approved sexual health products.

Veru was “opportunistically” developing sabizabulin (VERU-111), an orally administered “microtubule disruptor” — a drug that inhibits a virus’s ability to replicate itself — to treat COVID-19 in hospitalized patients at high risk of ARDS. Veru originally developed Sabizabulin with the intention of using it to treat prostate cancer. However, in January 2022, the FDA granted Fast Track designation to Veru’s COVID-19 program. At the time, there was no approved or approved treatment for hospitalized patients with severe COVID-19 infections.

Throughout the class-action period, the defendants made false and/or misleading statements and failed to disclose material adverse facts about the Sabizabulin Phase 3 study data and the Company’s interactions with the FDA. In particular, Veru has misled its shareholders into believing that the data from the Phase 3 study is sufficient to support Emergency Use Authorization (“EUA”) and even the filing of a New Drug Application (“NDA”) without support further studies. The documents of VERU are therefore…