- NASDAQ: VERU has surged by over 50% on Monday, extending its gains.
- Veru Inc announcement promising Phase 2 results for its breast cancer treatment.
- Shares have room to rise to levels last seen in 1994.
Coronavirus is contagious and kills – but the world has many more issues to deal with. One other deadly disease is breast cancer and Veru Inc (NASDAQ: VERU) may be onto a promising path for greater the illness. The Miami-based pharma firm said its enobosarm drug has shown a six-month clinical benefit and its safety profile includes no substantial issues such as virilization, increased hematocrit nor liver toxicity.
Around a quarter of a million women are diagnosed with breast cancer every year in the US, and 42,000 lose their lives. The disease also affects men, albeit at a minuscule rate. Singer Kylie Minogue's illness – as that of other celebrities – put the illness in the spotlight.
VERU stocks are also rising following its revenue increased by 35% to $11.75 million, yet that was insufficient to result in a profit – the firm's net loss rose to $11.8 million. The company also makes Preboost which is used to treat premature ejaculation. Its portfolio spans between medical issues related to men and those to women.
NASDAQ: VERU Price
NASDAQ: VERU jumped by 52.56% on Monday to close at $9.70, completing a near-tripling in value within a span of several trading days and sending it to prices last seen in 2013. Tuesday's pre-market trading is pointing to further gains of over 16% and a double-digit price of $11.33. That would the highest since 1994 – 26 years ago.
Is NASDAQ: NERU overvalued? The rapid rise undoubtedly excites investors but may raise some eyebrows. However, despite the recent rises, it is valued under $1 billion – a low market capitalization for red-hot pharma firms.
More Square Inc (SQ Stock) Price Forecast: Trending higher on CashApp and cryptocurrencies
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