SAN FRANCISCO, Nov. 10, 2022 (GLOBE NEWSWIRE) — Hagens Berman urges Veru Inc. (NASDAQ: VERU) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations.
Contact An Attorney Now: VERU@hbsslaw.com
Veru Inc. (NASDAQ: VERU) Investigation:
The investigation focuses on Veru’s past statements concerning the development of its orally administered COVID-19 drug, sabizabulin.
More specifically, in Apr. 2022, Veru claimed that results from the randomized placebo-controlled Phase 2 study of daily, oral sabizabulin in patients with severe COVID-19 at high risk of acute respiratory distress syndrome and death showed clinically meaningful reduction in deaths. The company further claimed that “[t]he 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 for overwhelming efficacy based on a planned interim analysis.”
The company’s claims came into question on Nov. 9, 2022, when Veru announced that the FDA advisory committee (“AdCom”) voted against approving sabizabulin under the agency’s Emergency Use Authorization (“EUA”) pathway. Separately, AdCom’s briefing document highlighted “several uncertainties in the data that may impact the clinical interpretation of the efficacy results.”
This news sent the price of Veru shares crashing 53% lower in a single trading day.
“We’re focused on investors’ losses and whether Veru may have misled investors about the data it submitted in support of sabizabulin,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Veru and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Veru should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email VERU@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
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