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Sep 30, 2021
Verona Pharma Q3 2021 Earnings Report
Verona Pharma reported financial results for Q3 2021 and provided a corporate update.
Key Takeaways
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.
Patient enrollment in Phase 3 ENHANCE program nearing completion.
Expect to complete enrollment in ENHANCE-2 and the 48-week subset of ENHANCE-1 around year-end 2021.
Top-line data from ENHANCE-2 expected mid-year 2022 and from ENHANCE-1 around the end of 2022.
Cash and cash equivalents at September 30, 2021, were $166.5 million.
Forward Guidance
Enrollment of ENHANCE-2 and the 48-week subset of ENHANCE-1 to complete around year-end 2021. Top-line data for ENHANCE-2 mid-year 2022 and for ENHANCE-1 around the end of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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