Verona Pharma reports Q4 EPS (5c), consensus (17c)

Reports Q4 revenue $36.6M, consensus $26.49M. “2024 was another transformational year for Verona Pharma (VRNA) with the US approval and launch of Ohtuvayre, the first novel inhaled therapy available for the maintenance treatment of Chronic Obstructive Pulmonary Disease in over 20 years,” said CEO David Zaccardelli. “We are very pleased to report the extremely strong start to the launch continues to build momentum with more prescriptions dispensed through February 2025 than in the entire Q4 of 2024… Alongside our commercialization efforts, in Q3 we initiated two Phase 2 clinical trials: a dose-ranging trial with glycopyrrolate, a long-acting muscarinic antagonist, to support a nebulized fixed-dose combination of ensifentrine and glycopyrrolate for the maintenance treatment of COPD, and a study assessing the safety and efficacy of nebulized ensifentrine in patients with non-cystic fibrosis bronchiectasis. We are pleased to report the glycopyrrolate dose-ranging trial was successfully completed and we plan to initiate a dose ranging Phase 2b trial with a fixed-dose combination of ensifentrine and glycopyrrolate in the second half of 2025….In 2025, we will continue to build on the successful commercialization of Ohtuvayre in the US while progressing our Phase 2 programs. We are also initiating activities with regulatory authorities in the European Union and the UK for potential marketing authorization application submissions for Ohtuvayre.”