Veru falls on raising going concern doubts

Veru

16/11/2023 15:44

** Shares of Veru  VERU.O  fall as much as 9.4% to 96 cents
in early trade; last down 5.9%
    ** Late Wednesday, co said there is "substantial doubt"
about its ability to continue as a going concern
    ** Previously issued Q3 results should no longer be relied
upon - VERU
    ** The biopharma co added there was an error in its
disclosure in August that it would have enough cash flows to
meet contractual agreements over the next 1 year
    ** Co corrects Q2 net profit of $6.3 mln to a net loss of
$6.7 mln
    ** Including session's move, stock down 81% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))