VERU - Jefferies upgrades Veru to hold cites upcoming breast cancer study data

2023-06-07 15:08:00 ET

Veru ( NASDAQ: VERU ) has been upgraded by Jefferies from underperform to hold, due in part to the firm believing the stock was oversold and upcoming data from a Phase 2B clinical trial for Veru's breast cancer drug enobosarm.

The investment bank said that overall response rate data from a Phase 2B study was expected in the second half of 2024 and could support accelerated approval of the drug for metastatic breast cancer.

Jefferies also said that while many investors have been concerned about the company's cash position, "we believe it looks okay for now as burn is coming down significantly."

More on Veru:

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