Verona Pharma (VRNA)

Company Profile

Verona Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of respiratory diseases with significant unmet medical needs. If successfully developed and approved, Verona Pharma's product candidate, ensifentrine, has the potential to be the first therapy for the treatment of respiratory diseases that combines bronchodilator and anti-inflammatory activities in one compound. The Company is evaluating nebulized ensifentrine in its Phase 3 clinical program ENHANCE ('Ensifentrine as a Novel inHAled Nebulized COPD thErapy') for COPD maintenance treatment. The Company raised gross proceeds of $200 million through a private placement in July 2020 and expects the funds to support its operations and Phase 3 clinical program into 2023. Two additional formulations of ensifentrine are currently in Phase 2 development for the treatment of COPD: dry powder inhaler ('DPI') and pressurized metered-dose inhaler ('pMDI'). Ensifentrine is being evaluated in a pilot clinical study in patients hospitalized with COVID-19 and has potential applications in cystic fibrosis, asthma and other respiratory diseases.

Company profile

Ticker

VRNA

Exchange

NASDAQ

Website

www.veronapharma.com

CEO

David Zaccardelli

Incorporated

United Kingdom

Location

United Kingdom

Fiscal year end

Dec 31

Sector

Manufacturing > Medicinal and Botanical Manufacturing

Industry (SIC)

Pharmaceutical Preparations

Pfizer • Johnson & Johnson • Merck & Co • Abbott Laboratories • Teva- Pharmaceutical Industries • Bristol-Myers Squibb • Lilly(Eli) & Co • Viatris • Abbvie • Celgene ...

SEC CIK

0001657312

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Verona Pharma, Inc. ...

VRNA stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$28.67

Low target

$26.00

High target

$32.00

Latest filings (excl ownership)

View all

8-K

Regulation FD Disclosure

20 Dec 22

S-8

Registration of securities for employees

9 Nov 22

Verona Pharma Reports Third Quarter 2022 Financial Results and Provides Corporate Update

9 Nov 22

8-K

Entry into a Material Definitive Agreement

Prospectus supplement for primary offering

11 Aug 22

8-K

Verona Pharma Reports Second Quarter 2022 Financial Results and Provides Corporate Update

9 Aug 22

Prospectus supplement for primary offering

9 Aug 22

Transcripts

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VRNA

Earnings call transcript

2022 Q3

9 Nov 22

VRNA

Earnings call transcript

2022 Q1

3 May 22

VRNA

Earnings call transcript

2021 Q4

3 Mar 22

VRNA

Earnings call transcript

2021 Q3

9 Nov 21

VRNA

Earnings call transcript

2021 Q2

7 Aug 21

VRNA

Earnings call transcript

2021 Q1

1 May 21

VRNA

Earnings call transcript

2020 Q4

27 Feb 21

VRNA

Earnings call transcript

2020 Q3

1 Nov 20

VRNA

Earnings call transcript

2020 Q2

14 Aug 20

VRNA

Earnings call transcript

2020 Q1

2 May 20

Latest ownership filings

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Claire Poll

27 Dec 22

Change in insider ownership

Financial summary

Financial statements Chart VRNA financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	231.70 mm	231.70 mm	231.70 mm	231.70 mm	231.70 mm	231.70 mm
Cash burn (monthly)	(no burn)	(no burn)	5.19 mm	7.47 mm	6.03 mm	5.79 mm
Cash used (since last report)	n/a	n/a	20.57 mm	29.57 mm	23.88 mm	22.92 mm
Cash remaining	n/a	n/a	211.13 mm	202.13 mm	207.82 mm	208.78 mm
Runway (months of cash)	n/a	n/a	40.6	27.1	34.5	36.1

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2022

VRNA institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	72	41	+75.6%
Opened positions	38	9	+322.2%
Closed positions	7	7	–
Increased positions	15	6	+150.0%
Reduced positions	7	4	+75.0%

13F shares	Current	Prev Q	Change
Total value	2.92 bn	303.76 mm	+860.6%
Total shares	172.69 mm	58.59 mm	+194.7%
Total puts	180.80 k	0.00	NEW
Total calls	524.70 k	92.50 k	+467.2%
Total put/call ratio	0.3	–	–

Largest owners	Shares	Value	Change
Access Industries	51.11 mm	$512.65 mm	NEW
Growth Equity Opportunities Fund IV	46.45 mm	$579.67 mm	NEW
Vivo Ventures VI	23.49 mm	$157.88 mm	0.0%
Ra Capital Management	6.05 mm	$61.83 mm	+18.6%
Orbimed Advisors	5.69 mm	$58.20 mm	0.0%
NEA Management	5.58 mm	$57.08 mm	+9.3%
Perceptive Advisors	5.05 mm	$51.58 mm	+73.1%
Vivo Capital	4.25 mm	$43.43 mm	+54.5%
Wellington Management	4.18 mm	$42.69 mm	+9.1%
Deep Track Capital	2.83 mm	$28.91 mm	NEW

Largest transactions	Shares	Bought/sold	Change
Access Industries	51.11 mm	+51.11 mm	NEW
Growth Equity Opportunities Fund IV	46.45 mm	+46.45 mm	NEW
Deep Track Capital	2.83 mm	+2.83 mm	NEW
Perceptive Advisors	5.05 mm	+2.13 mm	+73.1%
Frazier Life Sciences Management	2.10 mm	+2.10 mm	NEW
Fairmount Funds Management	2.68 mm	+1.75 mm	+189.1%
Vivo Capital	4.25 mm	+1.50 mm	+54.5%
Octagon Capital Advisors	1.32 mm	+1.32 mm	NEW
Ra Capital Management	6.05 mm	+950.00 k	+18.6%
Novo Holdings A/S	0.00	-761.21 k	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

VRNA insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
23 Dec 22	Rishi Gupta	Ordinary Shares	Sell	Dispose S	Yes	No	24.11	92,992	2.24 mm	34,085,528
23 Dec 22	Rishi Gupta	Ordinary Shares	Sell	Dispose S	Yes	No	23.23	1,116,048	25.93 mm	34,178,520
23 Dec 22	Rishi Gupta	Ordinary Shares	Sell	Dispose S	Yes	No	22.27	961,328	21.41 mm	35,294,568
23 Dec 22	Orbimed Advisors	Ordinary Shares	Sell	Dispose S	Yes	No	24.11	92,992	2.24 mm	34,085,528
23 Dec 22	Orbimed Advisors	Ordinary Shares	Sell	Dispose S	Yes	No	23.23	1,116,048	25.93 mm	34,178,520
23 Dec 22	Orbimed Advisors	Ordinary Shares	Sell	Dispose S	Yes	No	22.27	961,328	21.41 mm	35,294,568
22 Dec 22	Rishi Gupta	Ordinary Shares	Sell	Dispose S	Yes	No	22.07	684,696	15.11 mm	36,255,896
22 Dec 22	Rishi Gupta	Ordinary Shares	Sell	Dispose S	Yes	No	21.71	3,284,800	71.31 mm	36,940,592
22 Dec 22	Orbimed Advisors	Ordinary Shares	Sell	Dispose S	Yes	No	22.07	684,696	15.11 mm	36,255,896
22 Dec 22	Orbimed Advisors	Ordinary Shares	Sell	Dispose S	Yes	No	21.71	3,284,800	71.31 mm	36,940,592