Verona Pharma Earnings Reports

Verona Pharma reported Q4 2024 revenue of $36.6 million, primarily from the commercial launch of Ohtuvayre, its novel inhaled COPD therapy. The company posted a net loss of $33.8 million due to increased R&D and SG&A expenses related to commercialization and ongoing clinical trials. Cash and cash equivalents increased to $399.8 million, strengthening Verona’s financial position as it advances its pipeline programs.

Verona Pharma reported Q3 net sales of $5.6 million for Ohtuvayre. The company initiated two Phase 2 clinical trials and cash and cash equivalents were $336.0 million as of September 30, 2024.

Verona Pharma announced the availability of Ohtuvayre (ensifentrine) in the US and reported a net loss of $70.8 million for the second quarter ended June 30, 2024. The company believes that its cash and cash equivalents will enable it to fund planned operating expenses and capital expenditure requirements beyond 2026.

Verona Pharma reported its Q1 2024 financial results, highlighting the upcoming PDUFA target action date for ensifentrine and ongoing preparations for a potential US launch. The company also strengthened its balance sheet through a new financing agreement.

Verona Pharma reported a net loss of $14.1 million for Q4 2023. The company's SG&A expenses increased due to commercialization preparations, while R&D expenses decreased due to the completion of the ENHANCE program.

Verona Pharma reported a net loss of $14.7 million for the third quarter ended September 30, 2023. Cash and cash equivalents were $257.4 million as of September 30, 2023. The FDA accepted the NDA for ensifentrine with a PDUFA target action date of June 26, 2024.

Verona Pharma reported a net loss of $8.8 million for the second quarter ended June 30, 2023. The company's cash and cash equivalents were $270.7 million as of June 30, 2023. A New Drug Application (NDA) was submitted to the US FDA for ensifentrine for maintenance treatment of COPD.

Verona Pharma reported a net loss of $16.7 million for the first quarter of 2023. The company's cash and cash equivalents were $291.4 million as of March 31, 2023, which is expected to fund operations through at least the end of 2025, including the commercial launch of ensifentrine in the US, if approved.

Verona Pharma reported positive Phase 3 data from its ENHANCE-1 trial and completed a $150 million debt financing facility in Q4 2022. Cash and cash equivalents were $227.8 million at the end of the year, which, combined with other funding sources, is expected to fund operations through at least the end of 2025. The company is preparing for a planned commercial launch of ensifentrine in the US in 2024.

Verona Pharma reported a net loss of $15.6 million for the third quarter ended September 30, 2022. The company's cash and cash equivalents were $231.7 million as of September 30, 2022. They have access to up to $400 million expected to provide cash runway through at least 2025. Top-line Phase 3 ENHANCE-1 data expected around the end of 2022.

Verona Pharma announced positive top-line results from its Phase 3 ENHANCE-2 trial evaluating nebulized ensifentrine for COPD. The trial met its primary and secondary endpoints, demonstrating improvements in lung function and significantly reduced COPD exacerbations. The company expects to submit a New Drug Application to the US FDA in the first half of 2023.

Verona Pharma reported its Q1 2022 financial results, highlighting the progress of its Phase 3 ENHANCE clinical program and the addition of James Brady to the Board as a Non-Executive Director. The company is on track to report top-line data from ENHANCE-2 in Q3 2022 and from ENHANCE-1 around the end of the year. Verona Pharma believes its cash and cash equivalents will enable funding planned operating expenses and capital expenditure requirements through at least the end of 2023.

Verona Pharma reported a net loss of $23.3 million for the fourth quarter ended December 31, 2021. The company's cash and cash equivalents were $148.4 million as of December 31, 2021. Enrollment was completed in ENHANCE-2 and the 48-week subset of ENHANCE-1, and ensifentrine met all safety objectives in a TQT study.

Verona Pharma reported revenue of $40.0 million for the third quarter ended September 30, 2021, compared to $nil for Q3 2020. Net profit was $11.1 million for the third quarter ended September 30, 2021, compared to net loss of $18.9 million for Q3 2020.

Verona Pharma reported progress on their Phase 3 ENHANCE program and a strategic collaboration with Nuance Pharma. They also announced their Q2 2021 financial results, including a net loss of $22.1 million and cash and cash equivalents of $146.0 million.

Verona Pharma announced its Q1 2021 financial results, highlighting the ongoing patient recruitment for the Phase 3 ENHANCE clinical program and expecting to complete enrollment in both studies in the second half of 2021. They also reported results from two clinical studies and strengthened their board with the appointment of Lisa Deschamps.

Verona Pharma reported its financial results for the fourth quarter and full year ended December 31, 2020, along with a corporate update, highlighting positive Phase 2 results and ongoing Phase 3 program enrollment.