In trading on June 7, shares of biotech business Veru Inc. (NASDAQ: VERU) surged 16.8 percent to $15.85. VERU, which has a market valuation of $1.16 billion and is licensed for emergency use in COVID-19, has the potential to be a blockbuster.
Veru’s progress has already drawn notice, and optimistic expectations have been realized. The US Food and Medication Administration has authorized the antiviral drug sabizabulin (FDA). So far, we’ve only discussed emergency usage in the event of severe COVID-19, but given the ongoing epidemic, this is a huge achievement.
The medicine sabizabulin is used to lower the risk of mortality in patients who have a high risk of developing acute respiratory distress syndrome, which can lead to the requirement for a ventilator.
Veru’s medicine is oral, meaning it comes in the shape of pills that can be swallowed, which makes it much easier to take. During the fall-winter season, when a rise in COVID-19 cases is expected, Veru management forecasts high growth in sabizabulin sales.
Sabizabulin has not yet been fully approved by the FDA, and it can only be used in the most serious circumstances. Clinical trials using sabizabulin, on the other hand, appear encouraging. The medication reduced mortality in hospitalized patients with moderate to severe COVID-19 by 55 percent in phase III studies.
VERU is currently expanding its medicine manufacturing capacity and working to gain worldwide regulatory approval. VERU shares may have a strong upward momentum if sales begin successfully.
Veru Inc. (NASDAQ: VERU) shares are up 169.10% year to date (YTD) and are up 16.80 percent or $2.28 in the most recent trading session. The stock’s 12-month performance, on the other hand, is roughly 75.33% higher.
The stock has gained 156.47 percent in the last six months and 208.37% in the last three months. When we look at the shorter time frames, we can see that the week performance is up 22.49 percent and the month performance is up 87.35%.