Verona Pharma Expects Strong Financial Performance for Q4 2024

Verona Pharma plc, a biopharmaceutical company focusing on respiratory diseases, released preliminary unaudited financial information for the fourth quarter and fiscal year ending December 31, 2024. The company anticipates reporting roughly $400 million in cash and cash equivalents as of December 31, 2024. Additionally, Verona Pharma expects its net product sales to be approximately $36 million for the fourth quarter, marking a significant increase from the previous year.

These preliminary financial results are based on unaudited information and the company’s current estimates. Verona Pharma’s independent registered public accounting firm has not conducted an audit or review of these figures. The company cautions that these estimates are subject to change based on the completion of closing and review procedures and the execution of internal financial controls.

Verona Pharma’s CEO, David Zaccardelli, highlighted the successful launch of Ohtuvayre (ensifentrine) during 2024, specifically mentioning aspects like a strong start, positive feedback from healthcare professionals, and robust refill rates. The drug recorded net product sales of around $36 million in the fourth quarter and $42 million for the full year 2024.

The company mentioned key milestones, such as Ohtuvayre’s product-specific J-code becoming effective on January 1, 2025, and the completion of enrollment for a Phase 2 trial with glycopyrrolate, supporting a fixed-dose combination program for COPD maintenance treatment via a nebulizer.

Verona Pharma emphasized that the estimated financial results for Q4 2024 are subject to change as final closing procedures take place. The company’s financial closing procedures for the fourth quarter and full year 2024 are still pending, and actual results may vary. These preliminary estimates are not audited or reviewed by their independent registered public accounting firm.

Further updates and details on Verona Pharma’s financial performance will be available once the company finalizes the audited financial statements.

For more information, interested parties can contact Victoria Stewart, Senior Director of Investor Relations and Communications at Verona Pharma at +1-844-341-9901 or via email at [email protected]. For US Investor Enquiries, contact Argot Partners at +1-212-600-1902, and for International/US Media Enquiries, reach out to Ten Bridge Communications at +1-781-316-4424.

About Verona Pharma:
Verona Pharma is focused on developing and commercializing innovative therapies for chronic respiratory diseases with significant unmet medical needs. Ohtuvayre (ensifentrine) is the company’s first commercial product, offering a novel approach to the treatment of COPD by combining bronchodilator and non-steroidal anti-inflammatory activities within one molecule.

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the company’s expectations due to various factors. The company disclaims any obligation to update these forward-looking statements.

Please be advised that this article is a summary of a Form 8-K report filed with the SEC by Verona Pharma. The original exhibit 99.1 issued by the company provides more detailed information regarding the financial and operational updates presented.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Verona Pharma’s 8K filing here.

Verona Pharma Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis.