Is There any Hope for Veru Stock?
With approval of Veru's (NASDAQ: VERU) drug sabizabulin for severe COVID-19 in serious question, the company's shareholders have every right to be a bit flighty at the moment. The shares are down 58% in the past six months and its fourth-quarter update on Dec. 5 only brought more grim tidings of crashing revenue and sharply rising costs.
So, will these issues spell the end of the line for Veru stock, or is there a chance that it'll rebound later on?
The most significant near-term risk to Veru's stock is that regulators at the Food and Drug Administration (FDA) might decide to rebuff its request to commercialize sabizabulin with an Emergency Use Authorization (EUA). In November, a non-binding advisory committee at the FDA voted against the company, finding with an 8-5 vote that the medicine's purported efficacy characteristics were not compelling enough for an expedited approval in light of the known risks of treatment and the ongoing public health need for such therapies.
Source Fool.com
