SAN FRANCISCO, Oct. 11, 2022 (GLOBE NEWSWIRE) — Hagens Berman urges Veru Inc. (NASDAQ:VERU) investors with significant losses Submit your losses now. The firm is investigating possible violations of the Securities Act.

Visit: www.hbsslaw.com/investor-fraud/VERU
Contact a lawyer now: [email protected]
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Veru Inc. (NASDAQ:VERU) Investigation:

The investigation focuses on previous statements by Veru regarding the development of its oral COVID-19 drug Sabizabulin.

More specifically, Veru claimed in April 2022 that the results of the Phase 2 randomized, placebo-controlled study of daily, oral sabizabulin in patients with severe COVID-19 at high risk of acute respiratory distress syndrome and death showed a clinically meaningful reduction in deaths. The company further claimed that “[t]The clinically meaningful and statistically significant reduction in deaths in this high-risk population was confirmed in a phase 3 COVID-19 study, which was stopped due to overwhelming efficacy based on a planned interim analysis.”

The Company’s claims were challenged on November 9, 2022, when Veru announced that the FDA Advisory Committee (“AdCom”) voted against approving sabizabulin under the agency’s Emergency Use Authorization (“EUA”) path Has. Separately, AdCom’s briefing document “highlighted several uncertainties in the data that may affect the clinical interpretation of efficacy results.”

That news sent Veru shares down 53% in a single trading day.

“We are focused on investor losses and whether Veru may have misled investors about the data it provided in support of sabizabulin,” said Reed Kathrein, the Hagens Berman partner who led the investigation directed.

If you have invested in Veru and suffer significant losses or have knowledge that could assist the firm’s investigations, Click here to discuss your legal rights with Hagens Berman.

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