Verona Pharma Reports First Quarter 2025 Financial Results and Provides Corporate Update
Verona Pharma reported strong Q1 2025 financial results, with total net revenue of $76.3 million, primarily driven by Ohtuvayre net sales of $71.3 million - a 95% growth compared to Q4 2024. The COPD treatment medication achieved approximately 25,000 prescriptions filled in Q1, with refills representing 60% of overall dispenses.
Key performance metrics include:
- New patient starts increased over 25% vs Q4 2024
- Prescriber base grew 50% to ~5,300 healthcare professionals
- Cash position of $401.4 million as of March 31, 2025
The company plans to expand its sales force with 30 new representatives in Q3 and is advancing clinical trials, including a Phase 2 study for bronchiectasis and a planned Phase 2b study for a fixed-dose combination treatment. Notably, quarterly revenue exceeded operating expenses for the first time, excluding non-cash charges, positioning Verona strongly for continued growth.
Verona Pharma ha riportato solidi risultati finanziari nel primo trimestre 2025, con un fatturato netto totale di 76,3 milioni di dollari, trainato principalmente dalle vendite nette di Ohtuvayre pari a 71,3 milioni di dollari, con una crescita del 95% rispetto al quarto trimestre 2024. Il farmaco per il trattamento della BPCO ha raggiunto circa 25.000 prescrizioni nel primo trimestre, con le ricariche che rappresentano il 60% delle dispensazioni complessive.
Le principali metriche di performance includono:
- Aumento di oltre il 25% dei nuovi pazienti rispetto al quarto trimestre 2024
- Incremento del 50% della base di prescrittori, arrivata a circa 5.300 professionisti sanitari
- Posizione di cassa pari a 401,4 milioni di dollari al 31 marzo 2025
L'azienda prevede di espandere la forza vendita con 30 nuovi rappresentanti nel terzo trimestre e sta avanzando negli studi clinici, inclusi uno studio di Fase 2 per la bronchiectasia e uno studio pianificato di Fase 2b per un trattamento a dose fissa combinata. Da notare che i ricavi trimestrali hanno superato per la prima volta le spese operative, escludendo gli oneri non monetari, posizionando Verona in modo solido per una crescita continua.
Verona Pharma reportó sólidos resultados financieros en el primer trimestre de 2025, con ingresos netos totales de 76,3 millones de dólares, impulsados principalmente por las ventas netas de Ohtuvayre que alcanzaron los 71,3 millones de dólares, un crecimiento del 95% en comparación con el cuarto trimestre de 2024. El medicamento para el tratamiento de la EPOC logró aproximadamente 25.000 recetas despachadas en el primer trimestre, con las renovaciones representando el 60% de las dispensaciones totales.
Las métricas clave de desempeño incluyen:
- Incremento de más del 25% en nuevos pacientes en comparación con el cuarto trimestre de 2024
- La base de prescriptores creció un 50%, llegando a aproximadamente 5.300 profesionales de la salud
- Posición de efectivo de 401,4 millones de dólares al 31 de marzo de 2025
La compañía planea ampliar su fuerza de ventas con 30 nuevos representantes en el tercer trimestre y está avanzando en ensayos clínicos, incluyendo un estudio de Fase 2 para bronquiectasias y un estudio planificado de Fase 2b para un tratamiento de combinación en dosis fijas. Cabe destacar que los ingresos trimestrales superaron los gastos operativos por primera vez, excluyendo cargos no monetarios, posicionando a Verona de manera sólida para un crecimiento continuo.
Verona Pharma는 2025년 1분기 강력한 재무 실적을 보고했으며, 총 순매출은 7,630만 달러로 주로 Ohtuvayre 순매출 7,130만 달러에 힘입어 2024년 4분기 대비 95% 성장했습니다. 만성폐쇄성폐질환(COPD) 치료제는 1분기에 약 25,000건의 처방이 이루어졌으며, 재처방이 전체 조제의 60%를 차지했습니다.
주요 성과 지표는 다음과 같습니다:
- 신규 환자 시작이 2024년 4분기 대비 25% 이상 증가
- 처방 의사 수가 약 5,300명으로 50% 증가
- 2025년 3월 31일 기준 현금 보유액 4억 1,400만 달러
회사는 3분기에 30명의 신규 영업 사원을 추가하여 영업 인력을 확장할 계획이며, 기관지확장증에 대한 2상 임상시험과 고정용량 복합제 치료에 대한 2b상 임상시험을 진행 중입니다. 특히 분기별 매출이 비현금 비용을 제외한 영업비용을 처음으로 초과하여, Verona가 지속적인 성장을 위한 견고한 위치에 있음을 보여줍니다.
Verona Pharma a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un chiffre d'affaires net total de 76,3 millions de dollars, principalement porté par les ventes nettes de Ohtuvayre à hauteur de 71,3 millions de dollars, soit une croissance de 95 % par rapport au quatrième trimestre 2024. Le médicament pour le traitement de la BPCO a enregistré environ 25 000 ordonnances remplies au premier trimestre, les renouvellements représentant 60 % des dispensations totales.
Les indicateurs clés de performance comprennent :
- Une augmentation de plus de 25 % des nouveaux patients par rapport au quatrième trimestre 2024
- Une croissance de 50 % du nombre de prescripteurs, atteignant environ 5 300 professionnels de santé
- Une trésorerie de 401,4 millions de dollars au 31 mars 2025
L'entreprise prévoit d'élargir sa force de vente avec 30 nouveaux représentants au troisième trimestre et fait progresser ses essais cliniques, notamment une étude de phase 2 pour la bronchiectasie et une étude de phase 2b prévue pour un traitement en association à dose fixe. Il est à noter que les revenus trimestriels ont dépassé pour la première fois les dépenses d'exploitation, hors charges non monétaires, positionnant ainsi Verona favorablement pour une croissance continue.
Verona Pharma meldete starke Finanzergebnisse für das erste Quartal 2025 mit einem Gesamtumsatz von 76,3 Millionen US-Dollar, hauptsächlich getrieben durch Nettoumsätze von Ohtuvayre in Höhe von 71,3 Millionen US-Dollar – ein Wachstum von 95 % im Vergleich zum vierten Quartal 2024. Das COPD-Medikament erreichte im ersten Quartal etwa 25.000 ausgestellte Rezepte, wobei Nachfüllungen 60 % der Gesamtabgaben ausmachten.
Wichtige Leistungskennzahlen umfassen:
- Neustarts bei Patienten stiegen um über 25 % gegenüber dem vierten Quartal 2024
- Die Anzahl der verschreibenden Ärzte wuchs um 50 % auf rund 5.300 Gesundheitsfachkräfte
- Barmittelbestand von 401,4 Millionen US-Dollar zum 31. März 2025
Das Unternehmen plant, seine Vertriebsmitarbeiter im dritten Quartal um 30 neue Vertreter zu erweitern und treibt klinische Studien voran, darunter eine Phase-2-Studie zur Bronchiektasie und eine geplante Phase-2b-Studie für eine Fixkombinationsbehandlung. Bemerkenswert ist, dass die Quartalseinnahmen erstmals die Betriebsausgaben ohne Berücksichtigung von nicht zahlungswirksamen Aufwendungen überstiegen, was Verona eine starke Position für weiteres Wachstum verschafft.
- Q1 2025 Ohtuvayre net sales reached $71.3M, showing 95% growth vs Q4 2024
- Total net revenue of $76.3M exceeded operating expenses (excluding non-cash charges) for first time
- Strong prescription metrics with ~25,000 prescriptions filled in Q1 2025
- Prescriber base expanded 50% to ~5,300 compared to Q4 2024
- Refill rate of 60% indicates strong patient retention
- Cash position remains strong at $401.4M as of March 31, 2025
- New patent granted extending protection until June 2044
- Secured amended financing agreement with increased debt facility to $450M under better terms
- Net loss of $16.3M in Q1 2025
- SG&A expenses increased significantly to $69.1M (up from $20.4M in Q1 2024)
- R&D expenses increased to $14.1M (up from $6.8M in Q1 2024)
- Substantial increase in share-based compensation expenses
Insights
Verona reports Q1 revenue of $76.3M, 95% QoQ Ohtuvayre sales growth, with revenue now exceeding operating expenses excluding non-cash charges.
Verona Pharma's Q1 2025 results reveal exceptional commercial momentum for Ohtuvayre (ensifentrine), with
A critical financial milestone has been achieved with quarterly revenue now exceeding operating expenses excluding non-cash charges. While the company still reported a net loss of
Verona's strategic financial restructuring, which included repaying revenue interest purchase agreements and increasing their debt facility to
The accelerating market penetration of Ohtuvayre demonstrates its value proposition in addressing significant unmet needs in COPD management. The
Verona's pipeline developments further strengthen their respiratory franchise. The ongoing Phase 2 study in non-cystic fibrosis bronchiectasis represents a logical therapeutic extension, targeting another chronic respiratory condition with limited treatment options. The planned Phase 2b trial evaluating a fixed-dose combination of ensifentrine with glycopyrrolate (a long-acting muscarinic antagonist) could potentially offer simplified therapy with complementary mechanisms of action.
The international regulatory progress, including Ohtuvayre's approval in Macau (their first outside the US) and the upcoming readout from Nuance Pharma's pivotal Phase 3 trial in China, indicates the global potential for this therapeutic approach. The company's planned expansion of their sales force by approximately 30 representatives signals confidence in continued growth trajectory and commitment to deepening prescriber engagement. Verona's strong commercial execution addresses a persistent therapeutic challenge in respiratory medicine.
Total net revenue of
~25,000 prescriptions filled in Q1 2025
Q1 2025 revenue exceeds operating expenses excluding non-cash charges
Conference call today at 9:00 a.m. EDT / 2:00 p.m. BST
LONDON and RALEIGH, N.C., April 29, 2025 (GLOBE NEWSWIRE) -- Verona Pharma plc (Nasdaq: VRNA) (“Verona” or the “Company”), a biopharmaceutical company focused on respiratory diseases, announces its financial results for the first quarter ended March 31, 2025, and provides a corporate update.
“The remarkably strong US launch of Ohtuvayre (ensifentrine) for the maintenance treatment of chronic obstructive pulmonary disease (“COPD”) continues to accelerate, with
“We continue to enroll our Phase 2 clinical study of ensifentrine in non-cystic fibrosis bronchiectasis (“bronchiectasis”) and we plan to initiate the dose-ranging Phase 2b study of a fixed-dose combination of ensifentrine and glycopyrrolate for the maintenance treatment of COPD in the second half of 2025. We are extremely pleased to report that for the first time Verona’s quarterly revenue exceeded our operating expenses, excluding non-cash charges. We believe we are in a robust financial position to continue commercializing Ohtuvayre, advance our clinical pipeline and implement our global strategy.”
Ohtuvayre Q1 2025 Performance Metrics
- Approximately 25,000 prescriptions filled
- New patient starts were over
25% greater than those in Q4 2024 - Refills represented approximately
60% of overall dispenses - Prescribers grew about
50% to approximately 5,300 compared to the end of Q4 2024 - Approximately
60% of prescribers are in Verona’s Tier 1 healthcare professionals (“HCPs”) - Over 425 HCPs have prescribed Ohtuvayre to more than 20 patients
Program Updates and Key Milestones
Verona’s near-term milestones include:
- At the American Thoracic Society International Conference 2025 in May, Verona will present ten posters, including seven from the Phase 3 ENHANCE studies of Ohtuvayre in COPD, two from nonclinical studies and one from a real-world data analysis. The ENHANCE posters highlight subgroup analyses of patients when used as monotherapy, in patients with COPD and comorbid cardiac disorders and, separately, in patients with COPD and comorbid type 2 diabetes. In addition, the Company will host an exhibition booth with presentations led by clinical experts.
- In the second half of 2025, Verona plans to initiate a dose-ranging Phase 2b trial to assess the safety and efficacy of a fixed-dose nebulized combination of ensifentrine with glycopyrrolate for the treatment of COPD. The Company has successfully completed a Phase 2 dose-ranging trial with glycopyrrolate to support this program.
- Verona continues to enroll subjects in a Phase 2 trial to assess the efficacy and safety of nebulized ensifentrine for the treatment of bronchiectasis.
- Verona continues to progress the regulatory activities for potential marketing authorization application submissions for Ohtuvayre for the maintenance treatment of COPD in the European Union and in the UK in 2025.
- In the second quarter of 2025, the Company’s development partner in Greater China, Nuance Pharma, is expected to report results from its pivotal Phase 3 trial evaluating ensifentrine for the maintenance treatment of COPD in China.
First Quarter Highlights
- A newly granted patent (US Patent No. 12,251,384), expiring June 2044, was listed in the FDA’s Orange Book for Ohtuvayre, in addition to the three original Orange Book listed patents.
- In March 2025, Verona amended its strategic financing agreements by repaying the revenue interest purchase and sales agreement and increasing the debt facility to
$450 million under more favorable terms with funds managed by Oaktree Capital and OMERS Life Sciences. These changes increased the Company’s financial flexibility, reduced the cost of capital and simplified the balance sheet. At March 31, 2025, the Company had$250 million outstanding under this facility and$200 million available in potential future draws. - In February 2025, Verona’s development partner in Greater China, Nuance Pharma, announced Ohtuvayre has been approved in Macau for the maintenance treatment of COPD in adult patients. This is the first regulatory approval for Ohtuvayre outside of the US.
- On January 1, 2025, Ohtuvayre’s product specific J-code became effective.
First Quarter 2025 Financial Results
- Cash position: Cash and cash equivalents at March 31, 2025, were
$401.4 million (December 31, 2024:$399.8 million ). - Net revenue: Total net revenue was
$76.3 million , driven by Ohtuvayre net sales of$71.3 million , for the first quarter ended March 31, 2025 (Q1 2024:$0 million ). Additionally, the Company recognized$5.0 million in a clinical milestone from Nuance Pharma. - Cost of sales: Cost of sales was
$3.4 million for the first quarter ended March 31, 2025 (Q1 2024:$0 million ), which included Ohtuvayre manufacturing costs, inventory overhead costs and sales-based royalties. - R&D Expenses: Research and development (“R&D”) expenses were
$14.1 million for the first quarter ended March 31, 2025 (Q1 2024:$6.8 million ). This increase of$7.3 million was primarily due to an increase of$5.5 million in share-based compensation as well as an increase of$1.9 million for clinical trial and other development costs related to the two Phase 2 studies which were initiated in the third quarter of 2024 related to the combination of nebulized ensifentrine and glycopyrrolate and for Ohtuvayre in patients with bronchiectasis. - SG&A Expenses: Selling general and administrative expenses (“SG&A”) were
$69.1 million for the first quarter ended March 31, 2025 (Q1 2024:$20.4 million ). The increase of$48.7 million was driven primarily by an increase of$9.3 million in people-related costs and$27.1 million in share-based compensation, each of which were impacted by the hiring of our field sales team in mid-2024 in the lead-up to the launch of Ohtuvayre. Additionally, our marketing and other commercial related activities, including travel, increased by$7.8 million as we continue to incur costs supporting the launch of Ohtuvayre. We also had an increase of$2.7 million related to professional and consulting fees, information technology costs and other support costs due to the continued buildout of our commercial organization as well as an increase of$1.0 million related to our RIPSA repayment and the amendment and draw of Tranche C of the 2024 Term Loans. - Net loss and Adjusted Net Income*: Net loss was
$16.3 million and Adjusted Net Income was$20.5 million for the first quarter ended March 31, 2025 (Q1 2024: Net loss$25.8 million and Adjusted Net Loss$21.5 million ).
*See “Non-GAAP Financial Measures” below for further details and a reconciliation of this non-GAAP measure to its nearest comparable GAAP measure.
Conference Call and Webcast Information
Verona Pharma will host a live webcast and a conference call at 9:00 a.m. EDT / 2:00 p.m. BST on Tuesday, April 29, 2025, to discuss the first quarter 2025 financial results and corporate update.
To participate, please dial one of the following numbers and ask to join the Verona Pharma call:
- +1-800-715-9871 for callers in the United States
- +1-646-307-1963 for international callers
The webcast will be available under Events and Presentations on the Investors page of the Company's website, www.veronapharma.com/investors, and the audio replay will be available for 90 days.
Important Safety Information
Indication
Ohtuvayre is a prescription medicine used to treat COPD in adults. COPD is a chronic (long-term) lung disease that includes chronic bronchitis, emphysema, or both.
What is the most important information I should know about Ohtuvayre?
Ohtuvayre can cause serious side effects, including:
- Sudden breathing problems immediately after inhaling your medicine. If you have sudden breathing problems immediately after inhaling your medicine, stop using Ohtuvayre and call your healthcare provider right away or go to the nearest hospital emergency room right away.
- Mental health problems including suicidal thoughts and behavior. You may experience mood or behavior changes when taking Ohtuvayre. Call your healthcare provider right away if you have any of these symptoms, especially if they are new, worse, or worry you: thoughts of suicide or dying, attempt to commit suicide, trouble sleeping (insomnia), new or worse anxiety, new or worse depression, acting on dangerous impulses, and/or other unusual changes in your behavior or mood.
Do not use Ohtuvayre to treat sudden breathing problems. Always have a rescue inhaler with you.
Who Should Not use Ohtuvayre?
Do not use Ohtuvayre if you have had an allergic reaction to ensifentrine or any of the ingredients in Ohtuvayre.
What should I tell my healthcare provider before using Ohtuvayre?
Before you use Ohtuvayre, tell your healthcare professional if you have or have had a history of mental health problems including depression and suicidal behavior; have liver problems; are pregnant or plan to become pregnant; are breastfeeding. It is not known if Ohtuvayre may harm your unborn baby. It is not known if the medicine in Ohtuvayre passes into your breast milk and if it can harm your baby.
Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.
What are the most common side effects of Ohtuvayre?
The most common side effects of Ohtuvayre include back pain, high blood pressure, bladder infection and diarrhea.
These are not all the possible side effects of Ohtuvayre. Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088.
This summary does not include all the information about Ohtuvayre and is not meant to take the place of a discussion with your healthcare provider about your treatment.
For further information, please see the full Prescribing Information, including the Patient Information Leaflet.
You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.
For further information please contact:
| Verona Pharma plc | Tel: +1-844-341-9901 |
| Victoria Stewart, Senior Director of Investor Relations and Communications | IR@veronapharma.com |
| Argot Partners US Investor Enquiries | Tel: +1-212-600-1902 verona@argotpartners.com |
| Ten Bridge Communications International / US Media Enquiries | Tel: +1-781-316-4424 tbcverona@tenbridgecommunications.com |
| Wendy Ryan | |
About Verona Pharma
Verona Pharma is a biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of chronic respiratory diseases with significant unmet medical needs. Ohtuvayre® (ensifentrine) is the Company’s first commercial product and the first inhaled therapy for the maintenance treatment of COPD that combines bronchodilator and non-steroidal anti-inflammatory activities in one molecule. Ensifentrine has potential applications in non-cystic fibrosis bronchiectasis, cystic fibrosis, asthma and other respiratory diseases. For more information, please visit www.veronapharma.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release other than statements of historical fact should be considered forward-looking statements. Words such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “may,” “potential,” “prepare,” “possible” and similar words and expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the potential benefits and efficacy of our drug Ohtuvayre to treat adult patients in the US with COPD and prescriber growth, the ongoing commercialization of Ohtuvayre and the growth of our sales team, statements regarding our two recently initiated Phase 2 clinical trials, the Company’s plans to initiate a Phase 2b clinical trial, potential regulatory approvals in the EU and UK, and Nuance Pharma’s results from its pivotal Phase 3 trial, the amounts expected to become available and the conditions under the debt facility, our participation in the upcoming events and presentations, and the timing of any of the foregoing.
These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from our expectations expressed or implied by the forward-looking statements, including, but not limited to, the following: risks related to our limited operating history; our need for additional funding to complete development and commercialization of Ohtuvayre which may not be available and which may force us to delay, reduce or eliminate our development or commercialization efforts; our reliance on the success of Ohtuvayre, our only commercial product; our reliance on third-party manufacturers and suppliers; the efficacy of Ohtuvayre compared to competing drugs; our ability to successfully commercialize Ohtuvayre; serious adverse, undesirable or unacceptable side effects associated with Ohtuvayre which could adversely affect our ability to commercialize Ohtuvayre; failure to develop Ohtuvayre for additional indications, alternate delivery methods, or as a combination therapy; failure to obtain approval for and commercialize Ohtuvayre in multiple major pharmaceutical markets; our commercial capabilities and infrastructure, including sales, marketing, operations, distribution, and reimbursement infrastructure, may not be adequate to successfully commercialize Ohtuvayre; lawsuits related to patents covering Ohtuvayre and the potential for our patents to be found invalid or unenforceable; lawsuits related to our licensing of patents and know-how from third parties for the commercialization of Ohtuvayre; changes in our tax rates, unavailability of certain tax credits or reliefs or exposure to additional tax liabilities or assessments that could affect our profitability, and audits by tax authorities that could result in additional tax payments for prior periods; the terms of our credit agreement place restrictions on our operating and financial flexibility, and if we fail to comply with certain covenants, our results of operations and financial condition may be harmed; our vulnerability to natural disasters, global economic factors, geo-political actions and unexpected events, including health epidemics or pandemics; and the other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and our other reports filed with the SEC. We disclaim any obligation to update or revise any forward-looking statement contained in this press release, even if subsequent events cause our views to change, except as required under applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
| Verona Pharma plc Consolidated Financial Summary (unaudited) (in thousands, except share and per share amounts) | ||||||||||
| Three months ended March 31, | ||||||||||
| 2025 | 2024 | |||||||||
| Revenue | ||||||||||
| Product sales, net | $ | 71,256 | $ | — | ||||||
| Other revenue | 5,000 | — | ||||||||
| Total revenue, net | 76,256 | — | ||||||||
| Operating expenses | ||||||||||
| Cost of sales | 3,407 | — | ||||||||
| Research and development | 14,054 | 6,764 | ||||||||
| Selling, general and administrative | 69,112 | 20,434 | ||||||||
| Total operating expenses | 86,573 | 27,198 | ||||||||
| Operating loss | (10,317 | ) | (27,198 | ) | ||||||
| Other income/(expense) | ||||||||||
| Research and development tax credit | — | 585 | ||||||||
| Loss on extinguishment of debt | (407 | ) | — | |||||||
| Interest income | 3,891 | 3,378 | ||||||||
| Interest expense | (10,195 | ) | (1,586 | ) | ||||||
| Foreign exchange gain/(loss) | 470 | (219 | ) | |||||||
| Total other (expense)/income, net | (6,241 | ) | 2,158 | |||||||
| Loss before income taxes | (16,558 | ) | (25,040 | ) | ||||||
| Income tax benefit/(expense) | 239 | (754 | ) | |||||||
| Net loss | $ | (16,319 | ) | $ | (25,794 | ) | ||||
| Weighted-average shares outstanding – basic and diluted | 679,405 | 645,701 | ||||||||
| Loss per ordinary share – basic and diluted | $ | (0.02 | ) | $ | (0.04 | ) | ||||
Mar-31 | Dec-31 | |||||||||
| 2025 | 2024 | |||||||||
| Cash and cash equivalents | $ | 401,415 | $ | 399,757 | ||||||
| Total assets | $ | 525,936 | $ | 474,242 | ||||||
| Shareholders’ equity | $ | 226,595 | $ | 204,559 | ||||||
Non-GAAP Financial Measures
Adjusted Net Income/(Loss)
We define Adjusted Net Income/(Loss) as net income/(loss) excluding share-based compensation expense.
Management believes that this non-GAAP financial measure provides useful information to investors by reflecting additional ways of viewing aspects of our operations that, when reconciled to the corresponding GAAP measure, help our investors understand the long-term profitability trends of our business, and facilitate comparisons of our profitability to prior and future periods and to our peers.
Adjusted Net Income/(Loss) is a supplemental measure of our operating performance and has important limitations. For example, Adjusted Net Income/(Loss) excludes the impact of certain costs required to be recorded under GAAP and could differ substantially from similarly titled measures presented by other companies in our industry or companies in other industries. Accordingly, this non-GAAP measure should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. We include a reconciliation of Adjusted Net Income/(Loss) to the most directly comparable GAAP financial measure, which is Net loss.
| Verona Pharma plc RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited) (in thousands) | |||||
| The following table presents a reconciliation of our Adjusted Net Income/(Loss) to our Net loss, which is the most directly comparable GAAP measure, for the periods indicated. | |||||
| Three months ended March 31, | |||||
| 2025 | 2024 | ||||
| Net loss (GAAP) | (16,319 | ) | (25,794 | ) | |
| Adjustments: Share-based compensation | 36,838 | 4,258 | |||
| Adjusted Net Income/(Loss) | 20,519 | (21,536 | ) | ||
FAQ
How much revenue did Verona Pharma (VRNA) generate in Q1 2025?
What was the growth rate of Ohtuvayre sales for VRNA in Q1 2025?
How much cash does Verona Pharma (VRNA) have as of March 2025?
What are the upcoming milestones for Verona Pharma (VRNA) in 2025?
What is Verona Pharma's (VRNA) debt situation after the March 2025 financing amendment?
