Verona Pharma Stock Price, News & Analysis

Verona Pharma (Nasdaq: VRNA) announced it will report its Q3 2022 financial results on November 9, 2022, followed by a conference call at 9:00 a.m. EST. The call aims to discuss the financial outcomes and provide corporate updates. Notably, the company is focused on its product candidate, ensifentrine, which aims to treat respiratory diseases and is currently in a Phase 3 clinical program for COPD treatment. Preliminary results indicate ensifentrine met primary endpoints in a recent trial, showcasing lung function improvement.

Verona Pharma (Nasdaq: VRNA) has secured a $150 million debt financing facility from Oxford Finance LLC to support the commercialization of ensifentrine for chronic obstructive pulmonary disease (COPD). This non-dilutive capital will replace a previous $30 million facility with Silicon Valley Bank, enhancing financial flexibility. With $231.7 million in cash as of September 30, 2022, Verona anticipates over three years of runway for its planned US launch of ensifentrine, pending positive results from the ENHANCE-1 trial. The debt facility matures in 2027.

Verona Pharma announces positive results from the Phase 3 ENHANCE-2 trial of ensifentrine for chronic obstructive pulmonary disease (COPD), showing a 42% reduction in moderate to severe exacerbations compared to placebo over 24 weeks (p=0.0109). The subgroup analyses confirmed consistent efficacy across various demographics, including current smokers and patients receiving background medication. The company plans to include these outcomes in their upcoming New Drug Application in 2023, pending ongoing trial results from ENHANCE-1.

Verona Pharma (Nasdaq: VRNA) will present a company overview at the H.C. Wainwright 24th Annual Global Investment Conference on September 12, 2022, at 2:00 PM ET. A webcast of the presentation will be available on the Company's website.

Verona Pharma focuses on innovative therapies for respiratory diseases. Its leading product candidate, ensifentrine, aims to combine bronchodilator and anti-inflammatory properties for COPD treatment. After successfully meeting primary endpoints in clinical trials, ensifentrine shows promise for COPD maintenance and potential applications in other respiratory diseases.

Verona Pharma (Nasdaq: VRNA) has appointed Matthew Casbon as Vice President of Sales, Marketing and Training, and Matthew Rysavy as Vice President of Market Access and Trade, both bringing around 25 years of experience in commercialization. These appointments coincide with the positive Phase 3 results from the ENHANCE-2 trial of ensifentrine for chronic obstructive pulmonary disease (COPD). The Company anticipates reporting results from the ENHANCE-1 trial by year-end, with plans to submit a New Drug Application to the FDA in early 2023 if positive results are obtained.

Verona Pharma plc (Nasdaq: VRNA) announced that its development partner, Nuance Pharma, received IND approval from the Center of Drug Evaluation to initiate Phase 1 and Phase 3 studies for ensifentrine, targeting COPD treatment in mainland China. This follows a $219 million agreement from 2021, which included a $25 million upfront payment and future milestone payments. The ENHANCE-2 trial showed significant improvements in lung function with ensifentrine, indicating promising potential in addressing COPD.

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.