Verona Pharma Stock Price, News & Analysis

Verona Pharma (Nasdaq: VRNA) has successfully completed an upsized public offering, closing the sale of 14,260,000 American Depositary Shares (ADSs) at $10.50 each, netting approximately $150 million before expenses. This offering included the full exercise of an underwriters' option for an additional 1,860,000 ADSs. The funds raised will support the development of Verona's respiratory disease treatments. The offering was managed by Jefferies, Piper Sandler & Co., and Truist Securities.

Verona Pharma plc (Nasdaq: VRNA) announced a successful upsized public offering of 12,400,000 American Depositary Shares (ADSs) at $10.50 each, generating gross proceeds of $130.2 million. The offering, which includes an option for underwriters to purchase an additional 1,860,000 ADSs, is set to close on August 15, 2022. Jefferies, Piper Sandler & Co., and Truist Securities are leading the offering, conducted under an effective registration statement filed with the SEC. The funds raised will support Verona’s development in respiratory diseases.

Verona Pharma (Nasdaq: VRNA) announced a proposed underwritten public offering of 10 million American Depositary Shares (ADSs), with each ADS representing eight ordinary shares at a nominal value of £0.05 per share. The offering, managed by Jefferies, Piper Sandler & Co., and Truist Securities, is subject to market conditions. Additionally, the underwriters may purchase up to 1.5 million additional ADSs. This offering is linked to a shelf registration statement previously filed with the SEC.

Verona Pharma reported positive results from its Phase 3 ENHANCE-2 trial for ensifentrine, a treatment for COPD. The trial met its primary and secondary endpoints, showing improved lung function and reduced exacerbation rates. The company also shared financial results, with Q2 2022 cash and equivalents at $111.5 million, down from $132.8 million in Q1. R&D expenses decreased to $15 million, while SG&A expenses fell to $5.5 million. The net loss for the quarter was $17.8 million, an improvement from $22.1 million in Q2 2021. Upcoming data from the ENHANCE-1 trial is anticipated by year-end.

Verona Pharma plc (Nasdaq: VRNA) announced successful Phase 3 ENHANCE-2 trial results for nebulized ensifentrine, demonstrating significant improvements in lung function and a 42% reduction in moderate to severe COPD exacerbations over 24 weeks. The trial met primary and secondary endpoints, showing notable safety and tolerability similar to placebo. Ensifentrine is a first-in-class dual inhibitor targeting COPD treatment. The company plans to submit a New Drug Application to the FDA in early 2023, contingent on ongoing trial results.

Verona Pharma announces the reporting of top-line Phase 3 data from its ENHANCE-2 trial on August 9, 2022. This trial evaluates the efficacy of nebulized ensifentrine for the treatment of COPD. The company will also disclose its financial results for Q2 2022 during an investment community webcast at 8:30 a.m. EDT. Notably, the ENHANCE program includes two studies focused on lung function improvements over 24 weeks, with primary endpoints measuring FEV₁. Verona Pharma seeks to address significant unmet needs in respiratory diseases.

Verona Pharma (Nasdaq: VRNA) will announce its second-quarter financial results for the period ending June 30, 2022, on August 15, 2022. A conference call for investors is scheduled for 9:00 a.m. EDT to discuss these results and provide updates on the company’s operations. Verona Pharma is a clinical-stage biopharmaceutical company dedicated to developing therapies for respiratory diseases, specifically through its product candidate, ensifentrine, which is currently in Phase 3 trials for COPD maintenance treatment.

Verona Pharma has completed patient enrollment for its Phase 3 ENHANCE clinical trials, with over 800 subjects in the ENHANCE-1 trial and more than 1,600 across both ENHANCE-1 and ENHANCE-2 trials for ensifentrine, targeting chronic obstructive pulmonary disease (COPD).

Top-line data is anticipated in Q3 2022 and late 2022. The study aims to demonstrate the efficacy of ensifentrine in improving lung function and quality of life for COPD patients, potentially marking a significant advancement in treatment options.

Verona Pharma plc (Nasdaq: VRNA) will host an in-person KOL event on June 16, 2022, at 8:00 AM ET in New York. The event will feature discussions on COPD treatment, focusing on unmet needs and the potential of ensifentrine. Key opinion leaders, Igor Bajaktarevic and Jill Ohar, will share insights. Verona Pharma also plans to release top-line Phase 3 ENHANCE data for COPD in Q3 2022. Ensifentrine aims to be a first-in-class therapy, combining bronchodilator and anti-inflammatory effects. For details, visit www.veronapharma.com.