Veru Inc. (NASDAQ: VERU), the stock jumped 21.79% to $7.74 in the premarket session after a biopharmaceutical oncology corporation focused on the production of new cancer treatment drugs, today reported high net sales and gross profit for its fourth quarter and full-year ended September 30, 2020, for fiscal 2020.
4th-quarter: YOY highlights
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
From $8.7 million, net sales rose 35% to $11.7 million years over year.
FC2 net prescription revenue increased 87% from $4.7 million to $8.7 million.
The company’s Gross profit soared 64% from $5.8 million to $9.6 million. It’s Gross margin rose from 67% of net revenue to 81% of net revenue.
The net loss was $11.3 million, with a non-cash impairment fee of $14.1 million relating to intangible assets. Net revenue was $2.8 million with an operating deficit of $1.5 million, minus the non-cash impairment fee.
Before the fee for non-cash impairment, the net loss was $11.8 million, or $0.17 per share, compared to $3.1 million, or $0.05 per share.
Full-year: YOY Highlights
From $31.8 million, net sales grew 34% to $42.6 million.
Company sales of prescription FC2 soared 93% from $14.1 million to $27.1 million. Its Gross profit gained 42% from $21.7 million to $30.8 million.
Gross margin rose from 68% of net sales to 72% of net revenue.
The net loss was $14.7 million, with a non-cash impairment fee of $14.1 million relating to intangible assets.
Compared to $12.0 million, or $0.19 per share, the net loss, which contains the non-cash impairment fee, was $19.0 million, or $0.28 per share.