Veru is a clinical-stage biopharmaceutical company developing two oral small molecule drugs: enobosarm and sabizabulin. Enobosarm is an oral selective androgen receptor modulator (SARM) designed as an add-on therapy to GLP-1 receptor agonists (GLP-1 RAs) — drugs like Wegovy and Zepbound — for obese patients. The core problem enobosarm addresses is that GLP-1 RAs cause significant muscle loss alongside fat loss, which is especially dangerous for older patients at risk for falls and physical decline. Enobosarm aims to preserve lean mass and physical function while augmenting fat loss. Enobosarm completed a positive Phase 2b study in 2025, showing full preservation of lean mass vs. semaglutide alone, greater fat loss, and meaningful improvement in physical function. The next step is the Phase 2b PLATEAU study, expected to begin Q1 2026, enrolling roughly 200 patients aged 65+ on a GLP-1 RA, with an interim analysis planned for Q1 2027. Sabizabulin is an oral microtubule disruptor targeting inflammation in cardiovascular disease, at an earlier stage with a Phase 2 proof-of-concept study planned. Veru has no commercial products and no revenue, funding operations through equity offerings and asset sales, including the December 2024 sale of its FC2 female condom business. Veru's preferred commercialization path for enobosarm is a partnership or licensing deal with a large pharma company to fund Phase 3 non-dilutively, and the company is actively in discussions with potential partners.