Verona Pharma - VRNA STOCK NEWS

Verona Pharma (Nasdaq: VRNA) will announce its financial results for Q4 and the full year ending December 31, 2022, on March 7, 2023. A conference call is scheduled for 9:00 a.m. EST for the investment community to discuss these results and provide updates on corporate activities. The company is focused on developing innovative therapies for chronic respiratory diseases, particularly ensifentrine, which has shown promise in improving lung function and reducing COPD exacerbations in Phase 3 clinical trials. The live webcast will be available through their investor page.

The therapeutic respiratory devices market is projected to grow significantly due to increasing cases of respiratory disorders like COPD and asthma, coupled with a rising geriatric population. The market is expected to achieve a CAGR of 9% from 2019 to 2027, with North America leading in revenue generation. The demand has surged post-COVID-19, prompting product innovations and regulatory approvals, such as ABM Respiratory Care’s BiWaze Clear System. However, challenges like high product launch costs and recalls may hinder growth. The report highlights key players, market dynamics, and segmentation by product and application.

The global COPD and asthma devices market reached US$ 40.82 Billion in 2021, with forecasts estimating it will grow to US$ 57.09 Billion by 2027, reflecting a CAGR of 5.75%. Key drivers include an increasing elderly population prone to respiratory disorders, higher smoking rates, and growing healthcare expenditure. Notably, the rise in portable drug delivery devices and automation in healthcare also supports this growth. The report includes insights on market performance, trends, and challenges, while highlighting major players like Verona Pharma. The impact of COVID-19 on the market is also discussed.

Verona Pharma announces positive results from its Phase 3 ENHANCE-1 trial for nebulized ensifentrine, a treatment for chronic obstructive pulmonary disease (COPD). The study met primary and key secondary endpoints, showing significant improvements in lung function, symptoms, and quality of life. Notably, a 36% reduction in moderate to severe COPD exacerbations was achieved over 24 weeks. Ensifentrine demonstrated a favorable safety profile across 48 weeks. The company plans to submit a New Drug Application (NDA) to the FDA in the first half of 2023.

Verona Pharma (Nasdaq: VRNA) announced it will release top-line Phase 3 data from the ENHANCE-1 trial of nebulized ensifentrine on December 20, 2022. This clinical study focuses on the treatment of COPD and aims to demonstrate improvements in lung function. The company will host a webcast to discuss the results at 8:30 a.m. EST. The ENHANCE program includes two studies evaluating ensifentrine's efficacy and safety over 24 weeks. Positive results could position ensifentrine as a pioneering therapy combining bronchodilator and anti-inflammatory properties.

Verona Pharma (Nasdaq: VRNA) reported strengthened financials with access to up to $400 million, including a $150 million debt facility from Oxford Finance, supporting cash runway through 2025. The company anticipates reporting Phase 3 ENHANCE-1 data by the end of 2022 and plans to submit a New Drug Application to the FDA in H1 2023 for ensifentrine, a COPD treatment. The third quarter net loss was $15.6 million, compared to a profit of $11.1 million in Q3 2021. Research and development expenses decreased to $9.8 million from $22.6 million year-over-year.

Ligand Pharmaceuticals (LGND) reported $66.1 million in Q3 2022 revenue, a slight increase from $64.8 million a year prior. Royalty revenue rose 27% to $19.8 million, driven by Kyprolis, Rylaze, and Teriparatide. However, net income fell to $0.4 million ($0.02 per share) from $13.7 million ($0.80 per share) year-over-year. The company increased its 2022 revenue guidance to $184-$189 million, up from $133-$146 million. A significant focus is on the recent spin-off of the OmniAb business, which will impact future reporting. Ligand's cash reserves totaled $121.4 million as of September 30, 2022.

Verona Pharma plc (Nasdaq: VRNA) is set to participate in notable healthcare conferences in November 2022, including the Stifel 2022 Healthcare Conference on November 15, the Jefferies London Healthcare Conference on November 17, and the 34th Annual Piper Sandler Healthcare Conference on November 29. Each presentation will be accessible via webcast on the company's Investors page. Verona Pharma focuses on innovative therapies for respiratory diseases, with its lead product candidate, ensifentrine, currently in Phase 3 trials for COPD maintenance treatment.

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.