Veru Inc (NASDAQ: VERU) will start testing VERU-111 in the registrational Phase 3 study in hospitalized patients who have COVID-19 virus infection and are at high risk for Acute Respiratory Distress Syndrome.
- Mitchell Steiner, chairman, president, and CEO, said, "we have the resources to conduct a Phase 3 trial without impacting our cancer drugs' clinical development."
- Recently, the company raised gross proceeds of approximately $100 million via secondary equity offering.
- The company will seek funding from The Biomedical Advanced Research and Development Authority of the US Department of Health and Human Services.
- The 400-subject Phase 3 study will evaluate daily oral doses of VERU-111 versus placebo with the primary efficacy endpoint of the proportion of patients alive at Day 29.
- The trial will start next month and results expected by the end of this year.
- Price Action: VERU shares are trading 2.75% higher at $14.20 on the last check Monday.
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