Veru Reschedules 2024 Shareholders Meeting to June 27
Veru Inc., a biopharmaceutical company based in Miami, Florida, specializing in innovative treatments for muscle preservation, oncology, and viral-induced acute respiratory distress syndrome (ARDS), faced a setback today. The company's Annual Meeting of Shareholders, originally scheduled for today, had to be adjourned due to a lack of quorum. With only 49.6% of shareholder votes represented, the meeting could not proceed as it required a majority of outstanding shares to meet quorum.
The meeting has been rescheduled to Thursday, June 27th, at 9:00 a.m. at the company's headquarters on 2916 N. Miami Avenue, Suite 1000, Miami, Florida. The adjourned meeting will address all proposals outlined in the company’s amended definitive proxy statement filed with the U.S. Securities and Exchange Commission (SEC) on May 9, 2024. Shareholders who have previously submitted proxies or votes do not need to take any additional action as their votes will still count unless they choose to revoke them.
Shareholders who are uncertain about whether their shares have been voted can check their broker’s portal or contact their broker directly. If their shares have not been voted, they are encouraged to vote in one of three ways: requesting their broker to vote their shares, using their 16-digit control number to vote directly at www.proxyvote.com, or voting via their brokerage account.
Veru Inc. emphasizes the importance of shareholder participation to achieve a quorum and avoid additional costs associated with rescheduling the Annual Meeting. The company is focused on the development of two key late-stage drugs: enobosarm and sabizabulin.
Enobosarm, a selective androgen receptor modulator (SARM), is under development for two primary indications. Firstly, it is in a Phase 2b clinical study as a treatment to aid fat loss while preventing muscle loss in elderly, overweight patients receiving GLP-1 receptor agonists who are at risk of muscle atrophy. Secondly, pending sufficient funding, it will enter a Phase 3 ENABLAR-2 clinical trial in combination with abemaciclib for treating metastatic breast cancer expressing androgen receptors (AR+), estrogen receptors (ER+), and lacking HER2-.
Sabizabulin, a microtubule disruptor, is undergoing Phase 3 clinical trials for treating hospitalized patients with viral-induced ARDS. However, further development of sabizabulin for this indication hinges on securing external funding from government grants or pharmaceutical partnerships.
Additionally, Veru Inc. markets the FC2 Female Condom®, an FDA-approved product offering dual protection against unintended pregnancy and sexually transmitted infections (STIs).
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