Veru rises as it sells FC2 female condom business to private investors


Female condoms

Lalocracy/iStock via Getty Images

  • Veru has sold its FC2 female condom business for $18 million to a group of private investors.
  • Buyers include clients of Riva Ridge Capital Management.
  • As a result, Veru’s headcount will drop to 22 from 210. Estimated revenue is $12.5 million.
  • It’s true he said the transaction will allow the company to focus on the development of enobosarm, its Phase 2 candidate to preserve muscle and increase fat loss in patients taking Novo Nordisk’s (NGO) Wegovy (semaglutide).
  • The stock is 26% more in Tuesday morning trade.



Source link

  • Related Posts

    Sweet Swap Secrets: Why Your Desserts Don’t Need White Sugar Anymore

    White sugar hides in everyday foods, spiking insulin and harming gut health. Discover smarter sweet swaps like honey, jaggery, dates and coconut sugar for healthier desserts. Source link

    Pulsar Helium begins 2D seismic survey of Minnesota Topaz project

    Pulsar Helium begins 2D seismic survey of Minnesota Topaz project Source link

    Leave a Reply

    Your email address will not be published. Required fields are marked *