Biopharma co Veru tumbles on planned stock-and-warrants offering

** Shares of biopharmaceutical firm Veru VERU down 20% at $2.79 post-market as it seeks equity raise

** Miami, Florida-based co focused on treating cardiometabolic and inflammatory diseases commences offering of stock and warrants; deal size not disclosed

** Co plans to use net offering proceeds to fund development of enobosarm, with a primary focus on Phase 2b PLATEAU clinical study activities

** VERU's drug, enobosarm, being developed to counter muscle loss in overweight or obese patients using GLP-1 receptor agonists, such as semaglutide (Wegovy)

** Canaccord Genuity and Oppenheimer are joint bookrunners for offering

** Co has ~14.6 mln shares outstanding for about $50 mln market cap; in Aug, it effected a 1-for-10 reverse stock split to regain Nasdaq compliance

** Stock closed down 4.1% at $3.50 on Weds, extending YTD loss to 46%