Verona Pharma Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Corporate Update
Verona Pharma (VRNA) reported strong Q4 and full year 2024 results for Ohtuvayre, their first FDA-approved COPD maintenance treatment. Q4 net product sales reached $36.6 million, contributing to full year sales of $42.3 million.
The company highlighted growing prescription momentum, with over 4,600 unique prescribers and approximately 55% of Tier 1 HCPs prescribing Ohtuvayre through February 2025. The drug received its first approval outside the US in Macau.
Financial results show Q4 net loss of $33.8 million and full year net loss of $173.4 million. Cash position remained strong at $399.8 million as of December 31, 2024. The company is advancing Phase 2 programs in bronchiectasis and a fixed-dose combination therapy for COPD, with plans to initiate a Phase 2b trial in H2 2025.
Verona Pharma (VRNA) ha riportato risultati solidi per il quarto trimestre e l'intero anno 2024 per Ohtuvayre, il loro primo trattamento per la manutenzione della BPCO approvato dalla FDA. Le vendite nette di prodotti nel quarto trimestre hanno raggiunto 36,6 milioni di dollari, contribuendo a vendite totali per l'intero anno di 42,3 milioni di dollari.
La società ha evidenziato un crescente slancio nelle prescrizioni, con oltre 4.600 prescrittori unici e circa il 55% degli operatori sanitari di livello 1 che prescrivono Ohtuvayre fino a febbraio 2025. Il farmaco ha ricevuto la sua prima approvazione al di fuori degli Stati Uniti a Macao.
I risultati finanziari mostrano una perdita netta nel quarto trimestre di 33,8 milioni di dollari e una perdita netta per l'intero anno di 173,4 milioni di dollari. La posizione di liquidità è rimasta solida a 399,8 milioni di dollari al 31 dicembre 2024. L'azienda sta avanzando con programmi di Fase 2 in bronchiectasia e una terapia combinata a dose fissa per la BPCO, con piani per avviare uno studio di Fase 2b nella seconda metà del 2025.
Verona Pharma (VRNA) informó resultados sólidos para el cuarto trimestre y el año completo 2024 para Ohtuvayre, su primer tratamiento de mantenimiento para EPOC aprobado por la FDA. Las ventas netas de productos en el cuarto trimestre alcanzaron 36.6 millones de dólares, contribuyendo a ventas totales del año de 42.3 millones de dólares.
La compañía destacó un creciente impulso en las prescripciones, con más de 4,600 prescriptores únicos y aproximadamente el 55% de los profesionales de la salud de nivel 1 prescribiendo Ohtuvayre hasta febrero de 2025. El medicamento recibió su primera aprobación fuera de los EE. UU. en Macao.
Los resultados financieros muestran una pérdida neta en el cuarto trimestre de 33.8 millones de dólares y una pérdida neta para el año completo de 173.4 millones de dólares. La posición de efectivo se mantuvo sólida en 399.8 millones de dólares al 31 de diciembre de 2024. La empresa está avanzando con programas de Fase 2 en bronquiectasia y una terapia combinada a dosis fijas para la EPOC, con planes de iniciar un ensayo de Fase 2b en la segunda mitad de 2025.
Verona Pharma (VRNA)는 FDA 승인 첫 번째 COPD 유지 치료제 Ohtuvayre에 대한 2024년 4분기 및 연간 실적을 발표했습니다. 4분기 순 제품 판매는 3,660만 달러에 달했으며, 연간 총 판매는 4,230만 달러에 기여했습니다.
회사는 4,600명 이상의 고유 처방자와 2025년 2월까지 Ohtuvayre를 처방하는 1급 의료 제공자의 약 55%를 기록하며 처방 증가 추세를 강조했습니다. 이 약물은 미국 외에서 처음으로 마카오에서 승인을 받았습니다.
재무 결과는 4분기 순손실이 3,380만 달러이며 연간 순손실이 1억 7,340만 달러임을 보여줍니다. 2024년 12월 31일 기준 현금 보유고는 3억 9,980만 달러로 여전히 강력했습니다. 회사는 기관지 확장증에 대한 2상 프로그램과 COPD를 위한 고정 용량 복합 요법을 진행 중이며, 2025년 하반기에 2b상 시험을 시작할 계획입니다.
Verona Pharma (VRNA) a annoncé de solides résultats pour le quatrième trimestre et l'année entière 2024 pour Ohtuvayre, leur premier traitement d'entretien de la BPCO approuvé par la FDA. Les ventes nettes de produits pour le quatrième trimestre ont atteint 36,6 millions de dollars, contribuant à des ventes totales de 42,3 millions de dollars pour l'année entière.
L'entreprise a souligné une dynamique croissante des prescriptions, avec plus de 4 600 prescripteurs uniques et environ 55 % des professionnels de santé de niveau 1 prescrivant Ohtuvayre jusqu'en février 2025. Le médicament a reçu sa première approbation en dehors des États-Unis à Macao.
Les résultats financiers montrent une perte nette de 33,8 millions de dollars au quatrième trimestre et une perte nette de 173,4 millions de dollars pour l'année entière. La position de trésorerie est restée solide à 399,8 millions de dollars au 31 décembre 2024. L'entreprise fait progresser des programmes de Phase 2 dans la bronchiectasie et une thérapie combinée à dose fixe pour la BPCO, avec des plans pour initier un essai de Phase 2b au second semestre 2025.
Verona Pharma (VRNA) berichtete über starke Ergebnisse im 4. Quartal und für das gesamte Jahr 2024 für Ohtuvayre, ihre erste von der FDA genehmigte Erhaltungstherapie für COPD. Die Nettoumsätze im 4. Quartal erreichten 36,6 Millionen Dollar, was zu einem Gesamtumsatz von 42,3 Millionen Dollar für das gesamte Jahr beitrug.
Das Unternehmen hob die wachsende Verschreibungsdynamik hervor, mit über 4.600 einzigartigen Verschreibern und etwa 55% der Tier-1-Gesundheitsdienstleister, die Ohtuvayre bis Februar 2025 verschreiben. Das Medikament erhielt seine erste Genehmigung außerhalb der USA in Macau.
Die finanziellen Ergebnisse zeigen einen Nettoverlust von 33,8 Millionen Dollar im 4. Quartal und einen Nettoverlust von 173,4 Millionen Dollar für das gesamte Jahr. Die Liquiditätsposition blieb stark bei 399,8 Millionen Dollar zum 31. Dezember 2024. Das Unternehmen fördert Phase-2-Programme bei Bronchiektasen und einer fixen Kombinationstherapie für COPD und plant, im 2. Halbjahr 2025 eine Phase-2b-Studie zu starten.
- Strong Q4 product sales of $36.6M and FY2024 sales of $42.3M
- High prescriber adoption with 4,600+ unique HCPs
- Robust cash position of $399.8M
- First international approval secured in Macau
- Successful completion of glycopyrrolate dose-ranging trial
- Increased net loss to $173.4M in 2024 from $54.4M in 2023
- SG&A expenses tripled to $149.8M in 2024
- R&D expenses increased 159% to $44.6M
Insights
Verona Pharma's Q4 and full-year 2024 results reveal an exceptionally strong commercial launch for Ohtuvayre (ensifentrine). The drug generated
The prescription trajectory appears robust with more prescriptions filled in just the first two months of 2025 than during the entire fourth quarter of 2024. Physician adoption metrics are particularly impressive with over 4,600 unique prescribers and approximately
Financially, Verona has strengthened its position with
The inclusion of Ohtuvayre in the 2025 GOLD treatment guidelines represents a significant endorsement that should facilitate reimbursement and adoption. Meanwhile, pipeline progress with the fixed-dose combination program and bronchiectasis indication could unlock additional market opportunities. The international expansion beginning with Macau approval and potential EU/UK submissions in 2025 further enhances the commercial outlook beyond the US market.
Ohtuvayre (ensifentrine) represents a paradigm shift in COPD management as the first therapy to simultaneously target two key disease pathways in a single molecule. Traditional COPD therapies address either bronchodilation (LAMAs/LABAs) or inflammation (ICS), requiring multiple medications for comprehensive disease management. Ensifentrine's novel dual mechanism potentially simplifies treatment while addressing both airflow limitation and underlying inflammation.
The prescription patterns reveal remarkable clinical integration across the COPD severity spectrum. The
The inclusion in the 2025 GOLD report treatment algorithm represents exceptional validation for a newly approved therapy. GOLD guideline incorporation typically requires substantial clinical evidence and expert consensus, directly influencing treatment decisions and payer policies worldwide. This rapid inclusion suggests the clinical community recognizes ensifentrine's potential to address unmet needs in COPD management.
The fixed-dose combination with glycopyrrolate could further optimize therapy by combining ensifentrine's dual mechanisms with additional muscarinic antagonism, potentially delivering three complementary actions in a single nebulized treatment. This could improve adherence while maximizing bronchodilation through different pathways.
The bronchiectasis program addresses a condition with few approved therapies and significant unmet need. Bronchiectasis shares inflammatory and mucus hypersecretion characteristics with COPD, making ensifentrine's mechanism potentially well-suited for this indication. If successful, this would significantly expand the therapeutic utility beyond COPD.
OhtuvayreTM (ensifentrine) recorded net product sales of
More prescriptions filled through February 2025 than in Q4 2024
Over 4,600 unique prescribers with ~
Phase 2 programs in bronchiectasis and fixed-dose combination in COPD advance
Conference call today at 9:00 a.m. EST / 2:00 p.m. GMT
LONDON and RALEIGH, N.C., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), a biopharmaceutical company focused on respiratory diseases, announces its financial results for the fourth quarter and full year ended December 31, 2024, and provides a corporate update.
“2024 was another transformational year for Verona Pharma with the US approval and launch of Ohtuvayre (ensifentrine), the first novel inhaled therapy available for the maintenance treatment of Chronic Obstructive Pulmonary Disease (“COPD”) in over 20 years,” said David Zaccardelli, Pharm. D., President and Chief Executive Officer. "We are very pleased to report the extremely strong start to the launch continues to build momentum with more prescriptions dispensed through February 2025 than in the entire fourth quarter of 2024.
“More than 4,600 unique healthcare professionals (“HCPs”) including approximately
“Alongside our commercialization efforts, in the third quarter we initiated two Phase 2 clinical trials: a dose-ranging trial with glycopyrrolate, a long-acting muscarinic antagonist (“LAMA”), to support a nebulized fixed-dose combination of ensifentrine and glycopyrrolate for the maintenance treatment of COPD, and a study assessing the safety and efficacy of nebulized ensifentrine in patients with non-cystic fibrosis bronchiectasis (“bronchiectasis”). We are pleased to report the glycopyrrolate dose-ranging trial was successfully completed and we plan to initiate a dose ranging Phase 2b trial with a fixed-dose combination of ensifentrine and glycopyrrolate in the second half of 2025.
“In addition to our successful Ohtuvayre launch, our development partner in Greater China, Nuance Pharma, announced in February 2025 that Ohtuvayre was approved in Macau, the first approval outside of the US, for the maintenance treatment of COPD. In addition, Nuance Pharma has completed enrollment in its own pivotal Phase 3 trial in China to evaluate ensifentrine for the maintenance treatment of COPD and expects to report results in mid-2025.
“In 2025, we will continue to build on the successful commercialization of Ohtuvayre in the US while progressing our Phase 2 programs. We are also initiating activities with regulatory authorities in the European Union and the UK for potential marketing authorization application submissions for Ohtuvayre.”
Program Updates and Key Milestones
The Company’s near-term milestones include:
- In the second half of 2025, the Company plans to start a dose-ranging Phase 2b trial to assess the safety and efficacy of a fixed-dose nebulized combination of ensifentrine with glycopyrrolate. The Company has successfully completed a Phase 2 dose-ranging trial with glycopyrrolate to support this program.
- The Company continues to enroll subjects in a Phase 2 trial to assess the efficacy and safety of nebulized ensifentrine in patients with bronchiectasis.
- In 2025, the Company plans 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 mid-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.
Fourth Quarter and Recent Highlights
- In October 2024, the Company gave four oral presentations and presented two posters on analyses from the ENHANCE studies at CHEST Annual Meeting 2024. These included subgroup data supporting improvements in lung function, symptoms and quality of life, as well as reductions in the rate of exacerbations, regardless of COPD severity (moderate or severe), smoking status (current or former) and chronic bronchitis (with or without). An analysis of Ohtuvayre’s impact on reducing exacerbation rates and COPD-related healthcare resource utilization was also presented.
- In November 2024, the 2025 GOLD report added Ohtuvayre to the COPD treatment algorithm.
- Also in November 2024, the Company completed enrollment in a Phase 2 dose-ranging trial with glycopyrrolate, a LAMA, supporting a fixed-dose combination program for the maintenance treatment of COPD via a nebulizer.
- On January 1, 2025, Ohtuvayre’s product specific J-code became effective.
- In February 2025, the Company’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 outside of the US.
Fourth Quarter 2024 Financial Results
- Cash position: Cash and cash equivalents at December 31, 2024, were
$399.8 million (December 31, 2023:$271.8 million ).
- Product sales: Net sales of Ohtuvayre were
$36.6 million for the fourth quarter ended December 31, 2024 (Q4 2023:$0 million ). The Company received FDA approval on June 26, 2024 and the product was commercially available beginning in August 2024. - Cost of sales: Cost of sales was
$2.0 million for the fourth quarter ended December 31, 2024 (Q4 2023:$0 million ), which included Ohtuvayre manufacturing costs incurred after US approval, inventory overhead costs and sales-based royalties. - R&D Expenses: Research and development (“R&D”) expenses were
$7.9 million for the fourth quarter ended December 31, 2024 (Q4 2023:$4.1 million ). This increase of$3.8 million was primarily due to an increase of$3.2 million in clinical trial and other development costs as we initiated two Phase 2 studies in the third quarter of 2024 related to the combination of nebulized ensifentrine and glycopyrrolate and for Ohtuvayre in patients with bronchiectasis, and an increase of$1.1 million in share-based compensation. - SG&A Expenses: Selling general and administrative expenses (“SG&A”) were
$45.1 million for the fourth quarter ended December 31, 2024 (Q4 2023:$15.0 million ). The increase of$30.1 million was driven primarily by an increase of$9.8 million in marketing and other commercial related activities, including travel, primarily related to the launch of Ohtuvayre, and an increase of$2.6 million in professional and consulting fees, information technology costs and other support costs due to the continued buildout of our commercial organization. Additionally, we had an increase of$8.8 million in people-related costs as we built out our commercial organization including much of the field sales team as well as an increase of$7.8 million related to share-based compensation. - Net loss: Net loss was
$33.8 million for the fourth quarter ended December 31, 2024 (Q4 2023: Net loss$14.1 million ).
Full Year 2024 Financial Results
- Product sales: Net sales were
$42.3 million for the year ended December 31, 2024 (2023:$0 million ) related to product sales of Ohtuvayre. - Cost of sales: Cost of sales was
$2.6 million for the year ended December 31, 2024 (2023:$0 million ), which included Ohtuvayre manufacturing costs incurred after US approval, inventory overhead costs and sales-based royalties. - R&D Expenses: R&D expenses were
$44.6 million for the year ended December 31, 2024 (full year 2023:$17.2 million ), an increase of$27.4 million . This increase was primarily due to an increase of$17.5 million in clinical trial and other development costs we incurred 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, the$6.3 million approval milestone,$3.1 million increase in share-based compensation,$2.0 million increase for people-related costs and$1.1 million related to pre-launch manufacturing costs for commercial supply. This was partially offset by a decrease of$1.3 million in consultant and professional fee costs which were higher in the prior year due to service costs associated with our New Drug Application and the related approval process. - SG&A Expenses: SG&A expenses were
$149.8 million for the year ended December 31, 2024 (full year 2023:$50.4 million ), an increase of$99.4 million . This increase was driven primarily by an increase of$29.7 million in marketing and other commercial related activities, including travel, primarily related to the launch of Ohtuvayre, a charge of$15.0 million for the first sale milestone and an increase of$7.3 million in professional and consulting fees, information technology costs and other support costs due to the continued buildout of our commercial organization. Additionally, we had an increase of$26.8 million in people-related costs as we built out our commercial organization including much of the field sales team as well as an increase of$18.8 million related to share-based compensation. - Net loss: Net loss was
$173.4 million for the year ended December 31, 2024 (full year 2023:$54.4 million ).
Conference Call and Webcast Information
Verona Pharma will host an investment community webcast and conference call at 9:00 a.m. EST / 2:00 p.m. GMT on Thursday, February 27, 2025, to discuss the fourth quarter and full year 2024 financial results and the corporate update.
To participate, please dial one of the following numbers and ask to join the Verona Pharma call:
- +1-800-836-8184 for callers in the United States
- +1-646-357-8785 for international callers
A live webcast will be available on the Events and Presentations link on the Investors page of the Company's website, www.veronapharma.com, and the audio replay will be available for 90 days. An electronic copy of the fourth quarter and full year 2024 results press release will also be made available today on the Company’s website.
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. OhtuvayreTM (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, 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, 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 and the revenue interest purchase and sale agreement ("RIPSA”) place restrictions on our operating and financial flexibility, and if we fail to comply with certain covenants in the RIPSA, 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 Annual Report on Form 10-K for the period ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on February 27, 2025, as such factors may be updated from time to time in our other filings 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 December 31, | Years ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue | |||||||||||||||
| Product sales, net | $ | 36,637 | $ | — | $ | 42,261 | $ | — | |||||||
| Other revenue | 18 | — | 18 | — | |||||||||||
| Total Revenue, net | 36,655 | — | 42,279 | — | |||||||||||
| Operating expenses | |||||||||||||||
| Cost of sales | 2,039 | — | 2,582 | — | |||||||||||
| Research and development | 7,870 | 4,122 | 44,574 | 17,216 | |||||||||||
| Selling, general and administrative | 45,085 | 14,972 | 149,750 | 50,353 | |||||||||||
| Total operating expenses | 54,994 | 19,094 | 196,906 | 67,569 | |||||||||||
| Operating loss | (18,339 | ) | (19,094 | ) | (154,627 | ) | (67,569 | ) | |||||||
| Other income/(expense) | |||||||||||||||
| Research & development tax credit | 556 | 1,034 | 3,600 | 1,104 | |||||||||||
| Loss on extinguishment of debt | — | — | (3,653 | ) | — | ||||||||||
| Interest income | 3,994 | 3,292 | 15,262 | 12,761 | |||||||||||
| Interest expense | (10,317 | ) | (623 | ) | (23,542 | ) | (2,057 | ) | |||||||
| Foreign exchange gain/(loss) | (1,450 | ) | 1,206 | (169 | ) | 1,866 | |||||||||
| Total other income/(expense), net | (7,217 | ) | 4,909 | (8,502 | ) | 13,674 | |||||||||
| Loss before income taxes | (25,556 | ) | (14,185 | ) | (163,129 | ) | (53,895 | ) | |||||||
| Income tax benefit/(expense) | (8,271 | ) | 53 | (10,289 | ) | (474 | ) | ||||||||
| Net loss | $ | (33,827 | ) | $ | (14,132 | ) | $ | (173,418 | ) | $ | (54,369 | ) | |||
| Weighted average shares outstanding – basic and diluted | 663,263,855 | 642,139,211 | 652,310,582 | 634,142,660 | |||||||||||
| Loss per ordinary share - basic and diluted | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.27 | ) | $ | (0.09 | ) | |||
| 2024 | 2023 | ||||||||||||||
| Cash and cash equivalents | $ | 399,757 | $ | 271,772 | |||||||||||
| Total assets | 474,242 | 308,124 | |||||||||||||
| Shareholders’ equity | $ | 204,559 | $ | 249,283 | |||||||||||
FAQ
What were Ohtuvayre's Q4 2024 sales figures for VRNA?
How many healthcare professionals have prescribed VRNA's Ohtuvayre through February 2025?
What is VRNA's cash position as of December 31, 2024?
What are VRNA's upcoming clinical trial plans for Ohtuvayre in 2025?
What was Verona Pharma's net loss for full year 2024?
