Verona Pharma ( (VRNA) ) has shared an announcement.
On March 27, 2025, Verona Pharma announced an amendment to its credit agreement with Oaktree, increasing the Tranche C Term Loans from $75 million to $125 million and reducing the interest rate from 11% to 9.7%, with a further reduction to 9.35% upon meeting sales milestones. The amendment also includes a $75 million basket for a future working capital facility. On March 28, 2025, Verona Pharma repurchased its $100 million RIPSA obligation with reduced fees and increased its term loan facility to $450 million with improved terms. This strategic move enhances Verona Pharma’s financial flexibility and supports the continued growth of its COPD treatment, Ohtuvayre, while maintaining access to an additional $200 million under the term loan facility.
More about Verona Pharma
Verona Pharma is a biopharmaceutical company focused on developing and commercializing innovative therapies for chronic respiratory diseases with significant unmet medical needs. Its first commercial product, Ohtuvayre (ensifentrine), is an inhaled therapy for COPD that combines bronchodilator and non-steroidal anti-inflammatory activities. Ensifentrine also has potential applications in other respiratory diseases such as non-cystic fibrosis bronchiectasis, cystic fibrosis, and asthma.
YTD Price Performance: 33.84%
Average Trading Volume: 1,434,842
Technical Sentiment Signal: Sell
Current Market Cap: $5.46B
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