MIAMI - Veru Inc. (NASDAQ: NASDAQ:VERU), a biopharmaceutical company, has established a new Scientific Advisory Board to guide the development of enobosarm, an investigational drug for quality weight loss. Enobosarm is designed to prevent muscle loss and promote fat loss when used with GLP-1 receptor agonist drugs in obese or overweight patients.
The new board consists of experts in obesity, muscle preservation, and clinical research, including Dr. Caroline M. Apovian of Brigham and Women's Hospital and Harvard Medical School, Dr. Shalender Bhasin of Harvard Medical School and Brigham and Women's Hospital, Dr. Adrian Dobs of the Johns Hopkins Institute for Clinical and Translational Research, and Dr. William J. Evans of Duke University Medical Center and the University of California, Berkeley.
Enobosarm has been studied in 968 individuals, showing dose-dependent increases in muscle mass and reductions in fat mass. Its safety profile is based on 27 clinical trials involving 1581 participants. Veru plans a Phase 2b trial starting in April 2024 with results expected by the end of the fourth quarter of 2024, followed by a 12-week extension study to assess the ability of enobosarm to maintain muscle and prevent weight gain post-treatment.
The company's efforts align with addressing sarcopenic obesity, which affects up to 34.4% of obese patients over 60 in the U.S. and can lead to frailty when muscle mass is lost during weight loss treatment.
Veru, which also develops treatments for oncology and ARDS, aims to leverage the advisory board's expertise to advance enobosarm as a potential therapy for enhancing weight loss while preserving muscle integrity.
The information in this article is based on a press release statement from Veru Inc.
InvestingPro Insights
As Veru Inc. (NASDAQ: VERU) continues to make strides in the biopharmaceutical space with its development of enobosarm, investors are keeping a close eye on the company's financial health and stock performance. According to InvestingPro data, Veru has a market capitalization of 70.82 million USD, which reflects the company's current value in the market. Despite the challenges in the biopharmaceutical sector, Veru has demonstrated a significant return over the last week, with a 27.99% increase in price total return. This could be indicative of investor optimism about the potential of enobosarm and the company's strategic direction.
However, Veru's financial metrics show signs of concern. The company is currently trading with a negative P/E ratio of -0.41, suggesting that it is not profitable as of the last twelve months ending Q4 2023. This aligns with one of the InvestingPro Tips, which indicates that analysts do not anticipate the company will be profitable this year. Moreover, Veru's revenue has declined by 58.59% over the last twelve months, a figure that investors may want to consider in the context of the company's long-term growth prospects.
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