SAN DIEGO, Dec. 28, 2022 (GLOBE NEWSWIRE) —

The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all investors holding Veru Inc. VERU Common stock between May 11, 2022 and November 9, 2022 for violations of the Securities Exchange Act of 1934. Veru is primarily an oncology-based biopharmaceutical company developing drugs to treat breast and prostate cancer and drugs to treat COVID -19 and other diseases associated with viral and acute respiratory distress syndrome (“ARDS”).

What now: Shareholders in a similar situation may be eligible to participate in the class action lawsuit against Veru Inc. Shareholders who wish to be lead plaintiffs in the class action must file their filings by February 2, 2023. A lead plaintiff is a representative party acting on behalf of other class members in conducting the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: Veru Inc. (VERU) is misleading investors as to the viability and effectiveness of its COVID-19 treatment

According to the complaint, Veru was 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. Originally developed to treat prostate cancer, the FDA granted Fast Track Designation to Veru’s COVID-19 program in January 2022. At the time, there was no approved or approved treatment for hospitalized patients with severe COVID-19 infections.

Throughout the class action, the defendants made false and/or misleading statements and failed to disclose material adverse facts about the data from the Phase 3 study of sabizabulin and the company’s interactions with the FDA. In particular, Veru introduced his…