MIAMI, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Veru Inc. (NASDAQ: VERU), an oncology and urology biopharmaceutical company, today announced the pricing of an underwritten public offering of 7,142,857 shares of its common stock at a price of $1.40 per share, for gross proceeds of $10 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, Veru has granted the underwriters a 30-day option to purchase up to 1,071,428 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 1, 2018, subject to the satisfaction of customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager. Oppenheimer & Co. Inc. is acting as lead manager and CIM Securities, LLC is acting as co-manager. Ladenburg Thalmann & Co. Inc. acted as financial advisor to Veru.

Veru intends to use the net proceeds of the proposed offering for working capital and general corporate purposes, which may include research and development, clinical trial and marketing expenses.

About Veru Inc.

Veru Inc. is an oncology and urology biopharmaceutical company developing novel medicines for prostate cancer and prostate cancer supportive care as well as near term specialty pharmaceuticals to address significant unmet needs in urology.