Mar 31, 2021

Verona Pharma Q1 2021 Earnings Report

Verona Pharma reported its financial results and provided a corporate update for the first quarter of 2021.

Key Takeaways

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.

Patient recruitment is ongoing in Phase 3 ENHANCE clinical program, with completion expected in 2H21.

Top-line data from ENHANCE-2 is expected in the first half of 2022, and from ENHANCE-1 in the second half of 2022.

Positive Phase 2 results were reported with the pMDI formulation of ensifentrine in moderate to severe COPD patients.

A pilot study showed pMDI ensifentrine added to standard of care was well tolerated in patients hospitalized with COVID-19, though no benefit was observed.

EPS
-$0.4
Previous year: -$0.96
-58.3%
Cash and Equivalents
$170M
Previous year: $25M
+578.9%
Free Cash Flow
-$18.6M
Previous year: -$13.2M
+40.2%
Total Assets
$190M

Verona Pharma

Verona Pharma

Forward Guidance

Verona Pharma is focused on completing enrollment in the Phase 3 ENHANCE program and reporting top-line data from the studies in 2022.