Verona Delivers 250% Return In Less Than A Year

Verona Pharma

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(RTTNews) - 2024 has been a banner year for Verona Pharma (VRNA), with its share price surging more than threefold in just 7.5 months.

The company, which is focused on developing innovative therapies for the treatment of respiratory diseases, transitioned from clinical stage to commercial stage in June of this year, following the FDA's approval of Ensifentrine.

Ensifentrine, marketed under the brand name Ohtuvayre, is indicated for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in adult patients. Ohtuvayre, which secured FDA approval on June 26, 2024, is the first inhaled product with a novel mechanism of action available for the maintenance treatment of COPD in more than 20 years.

Chronic obstructive pulmonary disease, or COPD in short, is a leading cause of death in the United States. It covers a group of lung conditions including chronic bronchitis and emphysema (shortness of breath), all marked by chronic inflammation of the air passages.

Launched in August 2024, Ohtuvayre generated net sales of $5.6 million for the third quarter ended September 30, 2024. The company sees a multi-billion-dollar opportunity for Ohtuvayre.

Ensifentrine is being evaluated by the company in two phase II trials - a dose-ranging trial with glycopyrrolate, a long-acting muscarinic antagonist ("LAMA"), supporting a nebulized fixed-dose combination program with Ensifentrine for the maintenance treatment of COPD, and a trial assessing the efficacy and safety of nebulized Ensifentrine in patients with non-cystic fibrosis bronchiectasis.

A pivotal phase III trial of Ensifentrine for the maintenance treatment of COPD in China is ongoing. This study is being conducted by Verona's partner in Greater China, Nuance Pharma. Results from the trial are expected in 2025.

When we alerted readers to VRNA on May 17, 2024, it was trading at $13.42. The stock closed yesterday's trading at an all-time high of $47.02, reflecting a gain of 250% in 7.5 months.