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Why Veru Stock Is Vaulting Higher Today

TheMotleyFool

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Shares of Veru (NASDAQ: VERU) were vaulting 15.6% higher as of 11:22 a.m. EDT on Wednesday. The big jump came after the biopharmaceutical company provided its first-quarter update after the market closed on Tuesday. Veru also announced that it had received a green light from the FDA to begin a phase 2 clinical trial evaluating VERU-111 in treating COVID-19.

Veru reported that its Q1 revenue jumped 43% year over year to $9.9 million with climbing sales of its FC2 female condom. The company's gross profit soared 61% to $7.4 million. However, Veru posted a net loss in the first quarter of $0.01 per share.

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Source Fool.com

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