Stock Alert: Veru Hits New 52-week High

(RTTNews) - Shares of Veru Inc. (VERU), an oncology biopharmaceutical company, are jumping more than 51 percent or $3.26 in Monday's morning trade at $9.61, after hitting a new 52-week high of $10.44.

Monday, Veru announced positive Phase 2 clinical trial results for enobosarm, an oral, novel selective androgen receptor (AR) targeting agent, for the treatment of endocrine and chemotherapy resistant ER+/HER2- metastatic breast cancer.

In two enobosarm Phase 2 clinical studies (G200801 and G200802), enobosarm demonstrated clinically meaningful clinical benefit rates, overall response rates, median radiographic progression-free survival and well-tolerated safety profile in heavily pretreated endocrine and chemotherapy-resistant metastatic breast cancer cohorts.

Based upon the efficacy and safety from these clinical studies, the U.S. FDA has agreed to the company's Phase 3 ARTEST clinical study to evaluate the efficacy and safety of enobosarm 9mg for the treatment of endocrine resistant ER+/HER2- advanced breast cancer. The study will commence in the second quarter of 2021.

Separately, Veru said it plans to meet with the FDA and advance VERU-111, an oral cytoskeleton disruptor, into a Phase 2b clinical trial in women with Paclitaxel resistant triple negative breast cancer in 2021.

Veru has traded in a range of $2.30 to $10.44 in the past 52 weeks.