Veru Rallies Following Fast Track Designation For 'Enobosarm'

Veru Inc. (VERU) shares are more than 16 percent on Tuesday morning trade continuing an upswing since the company announced a fast track designation from FDA for Enobosarm for the treatment of AR+ ER+ HER2- Metastatic Breast Cancer yesterday. Enobosarm is an oral, new chemical entity, selective androgen receptor agonist.

The company noted that the fast track designation is for its Phase 3 registration program for the investigation of enobosarm for the treatment of androgen receptor-positive, estrogen receptor-positive, human epidermal growth factor receptor 2 negative or AR+ER+HER2- metastatic breast cancer patients who have shown previous disease progression.

Currently, shares are at $6.24, up 16.99 percent from the previous close of $5.34 on a volume of 2,473,843. The shares have traded in a range of $5.11-$24.57 on average volume of 989,128 for the last 52 weeks.

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