VERU - If You Invested $1000 in Veru in 2020 This Is How Much You Would Have Today
Veru (NASDAQ: VERU) rose in popularity in 2022, not due to its core business but the hype and excitement surrounding its COVID-19 drug, sabizabulin. And although the stock has been falling in recent months, that's after it experienced a significant rise in value. Below, I'll look at how much a $1,000 investment in the company back in 2020 would be worth right now and whether Veru, at its beaten-down valuation, is a good buy today.
In January 2020, Veru was coming off a quarter (the period ended Dec. 31, 2019) when it reported a net loss of $3.3 million on revenue of $10.6 million -- an impressive 66% improvement from the previous year. The growth was due to strong prescription sales of FC2, the company's female condom.
Fast-forward to its most recent quarter in 2022, when the situation had deteriorated significantly: Veru's net loss swelled to more than $41 million for the period ending Sept. 30, and revenue was just $2.6 million as management noted that "FC2 revenue decreased this past year due to business challenges experienced by our largest telemedicine customers."
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If You Invested $1,000 in Veru in 2020, This Is How Much You Would Have Today