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Verona Pharma Q1 2025 Earnings Report
Verona Pharma reported strong first quarter 2025 financial results driven by accelerating Ohtuvayre sales and exceeding operating expenses.
Key Takeaways
Verona Pharma reported total net revenue of $76.3 million for Q1 2025, primarily driven by Ohtuvayre net sales of $71.3 million, representing a 95% increase from Q4 2024. The company achieved approximately 25,000 prescriptions filled and reported a net loss of $16.3 million, which was an improvement from the previous year.
Total net revenue reached $76.3 million in Q1 2025, with Ohtuvayre net sales contributing $71.3 million.
Ohtuvayre prescriptions filled were approximately 25,000, with new patient starts increasing by over 25% compared to Q4 2024.
For the first time, Verona's quarterly revenue exceeded its operating expenses, excluding non-cash charges.
The company amended its strategic financing agreements, increasing its debt facility to $450 million under more favorable terms, enhancing financial flexibility.
Revenue by Segment
Forward Guidance
Verona Pharma plans to continue accelerating the Ohtuvayre launch, expand its sales team, advance its clinical pipeline, and pursue regulatory approvals in new markets.
Positive Outlook
- Plan to add approximately 30 new sales representatives in the third quarter to deepen the prescriber base and accelerate the launch.
- Continuing to enroll subjects in a Phase 2 clinical study of ensifentrine in non-cystic fibrosis bronchiectasis.
- Planning to initiate the dose-ranging Phase 2b study of a fixed-dose combination of ensifentrine and glycopyrrolate for COPD in the second half of 2025.
- Progressing regulatory activities for potential marketing authorization application submissions for Ohtuvayre in the European Union and UK in 2025.
- Nuance Pharma, Verona's development partner in Greater China, is expected to report results from its pivotal Phase 3 trial for ensifentrine in China in Q2 2025.
Challenges Ahead
- Risks related to limited operating history and the need for additional funding to complete development and commercialization.
- Reliance on the success of Ohtuvayre as the only commercial product and on third-party manufacturers and suppliers.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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