BRIEF⁠—Veru sells Entadfi business for $20 million plus $80 million in milestones

Veru saw its share rise 15% to $1.19 by mid-morning after it announced the sale of its Entadfi (finasteride and tadalafil) capsules business for benign prostatic hyperplasia (BPH) to Blue Water Vaccines for $20 million and up to an additional $80 million from sales milestones.

Under the terms of the agreement, Veru received $6 million at closing and Blue Water is obligated to pay the company an additional $4 million in the company’s fiscal year 2023, and an additional $10 million in installments in the fiscal year 2024.

In addition, Veru could receive up to an additional $80 million if certain Entadfi sales milestones are achieved.