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Verona Pharma plc (VRNA) is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for respiratory diseases that have significant unmet medical needs. Headquartered in both the United States and the United Kingdom, Verona Pharma is publicly traded on the NASDAQ Global Market and the London Stock Exchange.
The company's flagship product, Ensifentrine, is currently in development for the treatment of chronic obstructive pulmonary disease (COPD) and cystic fibrosis (CF). Ensifentrine is a dual inhibitor that has demonstrated potential in reducing inflammation and relaxing airway muscles, addressing critical gaps in the treatment of these chronic diseases. In addition to COPD and CF, Verona Pharma aims to expand its therapeutic pipeline to include treatments for other respiratory conditions such as asthma.
Verona Pharma's success is underpinned by a team of seasoned experts with extensive backgrounds in the discovery, development, and commercialization of respiratory therapies. The company has also forged strong partnerships with leading research institutions and advocacy organizations in the respiratory health sector. These collaborations have been instrumental in advancing their clinical programs and have garnered Verona Pharma several awards for innovation.
Recent achievements include the successful completion of Phase 2 clinical trials for Ensifentrine, which showed promising results in improving lung function and reducing symptoms in COPD patients. The company is now steering towards Phase 3 trials, marking a significant milestone in its mission to bring effective treatments to market.
Financially, Verona Pharma has demonstrated stability and growth, strengthening its financial flexibility through strategic funding rounds. This robust financial health supports ongoing research and development activities, ensuring sustained progress in their clinical programs. The company’s near-term goals include advancing Ensifentrine into late-stage clinical trials and exploring potential marketing authorizations.
For the latest updates on Verona Pharma’s research, financial performance, and upcoming milestones, stay tuned to the latest news and press releases.
The global COPD and asthma devices market reached
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.
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.
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