VRNA - Earnings call transcript Q3 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, everyone, and welcome to Verona Pharma's Third Quarter 2024 Financial Results and Operating Highlights Conference Call. [Operator Instructions]

Earlier this morning, Verona Pharma issued a press release announcing its financial results for the 3 months ended September 30, 2024. A copy can be found in the Investor Relations tab on the corporate website, www.veronapharma.com.

Before we begin, I'd like to remind you that during today's call, statements about the company's future expectations, plans and prospects are forward-looking statements. based current are statements forward-looking on expectations. management's These or nor involve other from known statements results, factors are forward-looking unknown our and promises neither performance actual implied our and These expectations and expressed materially by guarantees risks, may cause to or achievements be that the different important statements. uncertainties

date call. conference such statements management's represent this forward-looking estimates of Any as of the

obligation future, to to forward-looking company so, statements update at it may disclaims in point change. the subsequent any While if such the do views even events elect some its to cause

is As recorded a reminder, this conference days. will call XX available being for remain and

I'd Sir, now Dr. Officer. you to may over begin. turn like the floor Executive David Zaccardelli, Chief to

David Zaccardelli

Thank to welcome, you, and everyone, today's call.

with achievements our to by be you quarter, highlighted We today in launch third are remarkable of Ohtuvayre. the pleased share the extremely to

Hahn, Chief Officer; our Chris today Chief our Rheault, Officer; me Kathy With Commercial Officer; Chief our Mark Medical our Martin, Rickard, Development are Officer. Tara Chief Dr. Financial Dr. and

The and third for of exceptional treatment by marked our maintenance the of Pharma, COPD U.S. Verona launch progress development the programs. Ohtuvayre on clinical quarter continued for was

benefits patients. broad product First, outstanding grounded provides its Ohtuvayre, the $X.X launch million COPD were sales After quarter. COPD Ohtuvayre compelling indication third which let's in to just X and net is of the review weeks, the for

continues with sales net exceeding escalate, third for to We are as quarter. Ohtuvayre demand excited for October the

Ohtuvayre. of Ohtuvayre, than Through metrics. more have end more HCPs filled, prescriptions launch October, Ohtuvayre fully unique XX X,XXX been key some X,XXX the review let's prescribing than weeks only Now after launching with

HCPs. Ohtuvayre to on Our launch highest the promoting efforts prescribing continue focus XX,XXX to

prescribed HCPs X,XXX Tier weeks, XX of approximately In have Ohtuvayre. X XX% our

XXX treatment HCPs reminder, write per on As month. X Tier COPD maintenance average prescriptions a

prescribing continue to in more patients to practice. their Ohtuvayre, an also increased prescribes see their We they HCP once that

and this We impressed by the prescribers early breadth of depth in the prescriptions are and launch.

and approximately patients, patient of research our significant This therapy. market XX% patient are broad dual and background a on all broad COPD with utilization the including Ohtuvayre to single, across Importantly, consistent range the population. across triple across continues prescribing COPD HCPs is types need unmet highlight

from impact deliver regardless health severity is and COPD, about of Ohtuvayre meaningful and early patients is a feedback the care extremely the potential against to background all disease of and Initial both refill supported by encouraging data. therapy, providers

more HCPs to month. commercial Our and Tier continue of Through increase of X our promotion. digital through weeks engage or X XX over Tier reached activities the in-person than month to launch, we first XX% have HCPs

well continue XXX Ohtuvayre Presentations ENHANCE Our to unmet speaker new need by accelerate, COPD with as have ERS analysis and data. from efficacy end and Ohtuvayre at evaluating as expect real-world HCPs the and subgroup CHEST in XXXX. We on claims COPD. we highlighted conferences studies the and III care safety in health utilization approximately presented the based the to Phase programs of resource from trial impact COPD-related of ENHANCE analysis programs pooled in the on recently completed

for booths approximately At at HCPs. of in from our high interest CHEST, X,XXX Ohtuvayre interacted commercial and highlighting Ohtuvayre, our HCPs with team the medical level

While start the to it's the launch, still very we commercialization of encouraged Ohtuvayre. are early by the U.S. extremely in strong

nonsteroidal the COPD anti-inflammatory treatment redefine paradigm. first can bronchodilation confident Ohtuvayre is the we provide to inhaled both are it COPD and and that treatment effects,

a centers be the J-Code We for Ohtuvayre, approved which and XXXX. product-specific Medicaid in Medicare effective services permanent recently are for also pleased to report will January

glycopyrrolate, treatment with standard via quarter. during the Ohtuvayre the LAMA, our II Phase enrollment nebulizer. a fixed-dose delivered third clinical a a of initiated dose-ranging II Alongside for supporting programs ensifentrine launch, new successful a Phase maintenance began formulation September, jet In in we trial and X COPD combination

and X-week of the crossover is in trial randomized, glycopyrrolate via dose-ranging approximately XX function, delivered placebo-controlled, COPD. with safety double-blind, pharmacokinetic subjects to profile the lung The a trial nebulizer assess

range, of identification combination of fixed assessing trial be II ensifentrine dose an and the dose a conducted. Phase appropriate glycopyrrolate Following glycopyrrolate will

Also nebulized in placebo-controlled fibrosis randomized enroll non-cystic a in parallel with assess trial group trial ensifentrine enrollment Phase bronchiectasis. recent of The in pulmonary to patients subjects II began September, will history exacerbations. XXX with double-blind, the

least the and The ensure driven, exacerbation trial events pulmonary the will robust quality are on is required until event ensifentrine the for number the daily symptoms assess life. risk with effect subjects X-milligram of treated and powering, To and exacerbations, trial of XX twice at weeks of observed. rate all of

announced in update Pharma partner China, expects evaluating next turning Finally, in clinical maintenance for we providing pivotal development from for it to in enrollment year. pivotal to ensifentrine III forward Pharma, to our in completed COPD Nuance Phase the results trial III Nuance provide Phase trial an treatment ensifentrine its the our Greater China. look and XXXX, has of strategy. global clinical

quarter. now will review for over third I turn Mark the results call the to our financial to

Mark Hahn

morning. Good

recorded quarter one first sales Ohtuvayre. we Verona, for exciting our The an third as was of

For in the August of we on product XX, recorded ending $X.X partial September sales XXXX, million. net and Ohtuvayre starting quarter

partners X at pharmacy of their weeks. specialty are level holding our inventory expected, contracted As X to

sold to goods quarter Ligand. $XXX,XXX supply and for royalties the related of of consisted Ohtuvayre ended post-approval cost chain, XXXX, which production was of payable Cost September sold XX, inventory to

II in we the trials compared reported the for September ended to XXXX. in in $X.X initiated primarily to $XX.X team. million costs and period Research field Ohtuvayre million XXXX a same approval, sales manufacturer R&D of by million in prior costs primarily were Ohtuvayre as Phase costs to development for quarter June increase $XX.X and FDA was associated that with were was general were quarter reported XXXX. third XX, share-based The ended Recall $X.X and compensation, over million administrative and expense. expensed to $XX.X related driven The in our quarter. Selling, due expenses million $X million clinical XXXX, the people-related XX, of the receiving primarily the trial course XXXX, for $X.X quarter million as to the compared a increase of increase costs for approved X the was increase September

other support $X.X costs related continue costs marketing And addition, fees, our In as out increased by we travel, and by including other consulting information million. to organization. and increased and $X.X activities, commercial-related professional build technology million

of For quarter of loss loss tax $XX.X after $X.XX compared a per $X.XX September loss third quarter ADS to the per a period share XXXX, a in of for million $X.XX ADS the ordinary ended $XX per net compared ordinary million This same of or for the share after per for was to tax quarter $X.XX the net XXXX. loss XX, XXXX. represents or

with and cash $XXX Finally, in our as XX, of strong sheet equivalents September million balance XXXX. remains

commercial million access of expect we remaining runway we programs. end hand Oaktree $XXX least clinical and have facilities, on Ohtuvayre to ramp the the X of under future and the the trial U.S. With the cash continue currently ongoing our II on to sufficient in as execute at potential Phase XXXX the through

back the now the for I'll over the operator call to Q&A. turn

Operator

Instructions] from [Operator today question And first Andrew our Jefferies. from Tsai comes

Lin Tsai

Congrats on the strong launch and the strong execution.

data net question exceeding point your QX. October around is First the sales --

we're mean at of growth without rating fourth run that least and quarter million $XX in considering December? does So November any type

offset of the should period these type play, drop could some Or variables you to can sheer that think of patients volume start holiday headwinds adds or new Or to like discontinuations? any out? patient about starting like come do into we think

David Zaccardelli

the Andrew, thanks for Yes. question.

So for clearly, we're not providing any QX. guidance

the any and is. any we seen don't the and of in reason as or math your this stands I acceleration that in time, rationale for slowdown At see we've patients October. the number it think interest

we'll, past of our And several efforts and it so in have course, weeks. monitor the closely continue as we

to been of continued of a So need, use from of patients, for we forward past, A physicians about mechanism to demonstrated. that lot the as a been acceleration talked for an Ohtuvayre treatment in has forward already in get to feedback as incredible matter, we've look in Clearly, like really of and additional there's and Ohtuvayre lot we Ohtuvayre. interest, their novel paradigm. COPD, continue looking

occurred about this and excited we're early to launch over continue. of very So part very the XX weeks, the in expect that has initial we what

Lin Tsai

October. unique as have call? disclose October? patients filled follow-up. chance, in other hear. are any the provide of And to you X,XXX then next you as a you're to good just to planning prescriptions many Very metrics how willing through And By earnings

David Zaccardelli

thanks. Yes. No,

to fluid, point of X,XXX, are of week-over-week. -- imagine, you vast course, best as unique over can the those the are majority that majority adds think this I increasing very way at it it's those the Of patients. are is patient characterize of

the started launch. they starting have Refills early in and in refilled patients first that process, as should, on the although some earlier from to be very are of

continue weeks think are it's processed, have that patients referred a adds couple as continue characterize expect accelerating in the past and expect. to substantial to be grow. number time. as at we over I it patient the we best There's to this of been Those to of So

Operator

And Yasmeen Piper our Sandler. from from question next comes Rahimi

Yasmeen Rahimi

seems to what a in consensus really great some guidance of we congrats with December things or of question. stick the guess, we want you And terms into theme some expecting XXXX? Yes. it Should can are Andrew's provide are? well, like beginning the expectations past come year but talk about and before could the revenue out be on JPMorgan, progressing I in that quarter. of I

a the seems quarters it lot great going trying figure to how go. there's to are of you've just room think had quarter, X like I but next a out

XQ? going what like So one. question That's help to are us there an XQ, understand opportunity to like is quarter kind XQ, look of beyond in fourth things

two patients his insight We patients are that who majority and is, found the on have Ohtuvayre? that KOL triple a doctor are who any the that failed being patients of call Question -- are are do did out you therapy. of was prescribed type what noting recently shockingly

hearing even how you they're what of if Ohtuvayre? you in have using numbers, quantitative the from terms don't doctors So are

that is, by question X-part next of jump queue. outreach year? to end, And I'll where next in back questions, the year in in you terms of physician Sorry the sort -- then do for and the want by long third be mid

David Zaccardelli

take single, the we Right. mentioned triple them as therapy regard including segments, Ohtuvayre patients is -- I'll those are question. patient triple With for Yas, patients therapy, nearly in are for I on background triple sort prescriptions XX% all not across call, expected. being on as therapy. of it, the I particular to on and first the of prescribed that But order. characterize dual during any would thanks broadly

other unmet therapy physicians paradigm. types and was knew And types. across patient in by the market triple that keen who as in on medical So it I research there our utilizing improvement, we think that's how well as large earlier we very treatment patient from were Ohtuvayre need, we're that in prescribing using the and as interest needing also expected in of breadth patients a -- all was still on are encouraged

a to review to think With little it. I moment regard the forecasting, at it's premature

fourth the through I need think dynamics to the which we'll we assess will. quarter, launch continued

you've I we properly. we've very we think and seen, sure it the getting while we guidance of ourselves provided best and ahead the can, transparent, that historically, are not making characterize

very we're see, excited. as Ohtuvayre. you is can there very great encouraged, interest And in But utilizing

an and we'll utilization COPD, And in be so XXXX of look we to enormous growth expect the of Ohtuvayre to of that. and treatment year characterize

over guess, maybe we'd to I quarters. Chris the over want outreach coming where on it I'll turn in to be

Christopher Martin

Yas, for question. thank you the

to outreach, are on think prescriptions around give physicians. on take. Tier on write continue and the Xs I we Tier average, call, XXX mentioned Tier about XX,XXX when XX. the X and Tier as And physician our Those, Xs X we the think Dave about doctors, or focus

customers QX these to against continue into reach into and move we We increase to want as frequency and them QX. our

reps, as prescribing. to not overall direct we with channels in that as reach of them, One them into we to we that's And into physicians, QX is QX things have we interacting seen benefit times also well. increase as we've on and to as believe with XXXX our an through as this ability and with increasing but call in interactions we increase Ohtuvayre see their their but the continue we launch many these willingness We the on that adopt frequency early aspect accelerates. and is to digital move important provides that nonpersonal can, the their only

Operator

from Selvaraju Wainwright. Our Ram next from question comes H.C.

Raghuram Selvaraju

impressive here. metrics Congrats the very Really on commercial progress. all

to are trends, could with particularly you respect wanted I a that they respect emerging Firstly, prescribers ask comment have on ensifentrine. predilection to if preferences for any in expressing prescriber regimens to with combination

without sort are with? very pair and existing any the modalities just they Or deployed drug Are to at there seeing point? are preference effectively emerging preferring trends really specific ensifentrine this you of no being underlying broadly that

David Zaccardelli

thanks I the it's the Ram, question. for would Yes, say really latter.

stated dual utilized I we're on LABA, single, or interest triple and of the interchangeably in no in what certain practices. but that prescribing as think seeing classes I or therapy the rather with a they're is certain across generally drugs particular LAMAs patients, spectrum mentioned, patients as or certain combinations

a are on as launch. they'd And early mentioned, I the positive. therapy As And expected of therapy, great XX% there on being seeing, in very of in interest, it course, they're as nearly from currently. triple feedback that, triple again, using is on top to of we patients physicians expect the patients treated again, responses is

So being nowhere if triple mechanism the a preferred. of highest of the currently, treatment was, again, novel they the Ohtuvayre really that top because how in symptomatic triple as patients to unmet much treatment. utilized preference course, remain needed on on those it seeing and definitely very, very need excited across Ohtuvayre, And have in a of medical it's else go And shows and of was again, spectrum COPD. we're again patients. And really

Raghuram Selvaraju

Great. to you proof-of-concept how clinical experience in likely frame particular, Ohtuvayre the commercial go you you them? for, And to clinical respect about now these and increasing a how little pursue Ohtuvayre, with opportunities the can bronchiectasis, pursuing prescribers to indications about is that then awareness evidence starting additional among of with bit are talk

prescribers beyond progress since the on product themselves COPD? it's continues as been an front forward expressed interest those move indications launched to who've the additional with effectively in the drug Have those acquainted of

David Zaccardelli

Yes. thanks for question, Ram. No, the

made inhibitor physicians from non-CF being great sense think them one pharmacology with bronchodilator promise nonsteroidal I from consulted PDX interest a our avenues, PDX, using that number that a that, a and bronchiectasis them as them, incredibly to ensifentrine as as it of great strong could in interest in we ensifentrine came KOLs, an antiinflammatory bronchiectasis. in of a have

there's With from it. Ohtuvayre interest clearly, of broadly in we're and said, so on that physicians COPD. very course, And focused

in clinical we Specifically we to progressing ensifentrine as for progress commercial non-CF our study. are will development on now Phase and II front, with in continue the bronchiectasis research

data that study, into I think is at and the moment. in an the about But we let's at. the will XX-week that looks well you're trial future probably as see it's endpoint, trial, exacerbation enrolled how where at because we're and all get a see least talking ultimately, XXXX

Raghuram Selvaraju

question. just accounting lastly, then is And Great. this an

earlier prior were. away mentioned expenses have line associated You product that SG&A the as been it certain launch manufacturing or line to the into from with shifted now R&D

likely breakdown going give versus expenses So general just line maybe into if line. us to the wondering could segregated be was I the SG&A R&D a which you qualitative of forward are

commercial For other are example, Are item? how line the to programs, for the accounting in are R&D speaker are continue those? with going that words, you there that you any effectively in to associated activities book expenses,

Mark Hahn

were is The referring this for production Thanks specifically was inventory costs. Mark. related that question. numbers Ram, the to I to

And before approval, expensed so R&D. were as those

expense. was therefore, been blow, the a And produced that the you R&D sealed But approval, can imagine inventory. were product as it's since would API approval, finished after so filled, goods have that expensed produced into and put before

costs, SG&A they programs as get marketing which are programs, incurred expense. commercial travel, the all part the in period expensed speaker of in All cetera, et

Operator

And Shrader our Tom from next comes from BTIG. question

Thomas Shrader

Congratulations.

the have Just to people number lot prescription number, try looking physician or the it seems a X drug. you and prescriptions of the writing X at like

pitch What your as already Do what have guess, users. is more for looking you they're you I committed? refine to power side you to marketing know flip tell they're to I they excited? get do why And the assume

David Zaccardelli

a Chris Yes. few detail. me and Tom, comments, it over make turn let more for just to I'll

that on. -- their works and in see goes and expected that typical X there be physicians prescribe their their behavior patients in patients. course, Clearly, X want to who I yes, can and that's how think it's are it it of or hands

As just within prescribing had Ohtuvayre you need in are are, also they've are say, and patients which responses there heavy their practice, seen let's it practice. quite adopters to a use order physicians in they've bit really in mentioned, their as a as and

So we're seeing that. spectrum the of

patient as couple that currently in referred prescriptions at filled payer process. going as of look past they're just be substantial fluid, numbers I the also there numbers being because prescriber of that that all sure as weeks, of that in going to, side and are on it's and process and adjudicated think to to make that challenging it's written being and very I and are the well through

the out the date are of numbers any So of end day. by literally

trying look in their so at And very stand you how in we're to characterize physicians and for being practice. at is But transparent where the correct we moment. about characterization also it your

you can it. on Chris, And maybe, comment

Christopher Martin

Tom. Yes,

physicians As far look the that is once prescribers, these that like you is, the continue exciting writing patient what as they also we we us very but many off course see early X discussed, or the and things over when of the been exposed usage. that's that of to to write start breadth the and X, X to see in we X, they're one encouraging they launch these of their stages accelerate us the or very there's to feedback, fact at depth

think his comments. Dave something I that's mentioned opening in

see is interactions and experience frequency we field personnel. sales of combination What our and also patient it's increased with a

We about. mind Ohtuvayre mechanism XX doing and have something to doctors that continue of talk COPD the as have a to spectrum patients been keep them that XX we practice is thing in to same an and have for in to novel all years, remain across add-on symptomatic to the as these that their

Ohtuvayre And about to and Ohtuvayre their extremely they do what patients. excited can provide can ultimately, what are then, help

using in is we would moving more from and think X we believers a adoption to X very, much doctor an what then on who's Ohtuvayre. to and entrenched what call I see early from So very encouraging

Thomas Shrader

looks that set on does are is And giving like? can rate your all How a you How stuff you your what drug up patients for quick month? often Chris, to follow-up operating? be I seem infrastructure? conversion a ask

Christopher Martin

Yes. question, how been We're has up. with set Tom. very Good infrastructure pleased our

talked I and extremely to our of early drug. we're able these that that so data work patients of the infrastructure access think well about was kind infrastructure gets to we on that the are, one make and the very understand and that where understand worked has things sure patients to to

assumptions say dispensed are a positive that of the We majority significant side. TRxs. those paid on thought those seeing into we what early Part and very were scripts, talked of I and within had very trends the playing we B true payer today going X,XXX about those consistent be out Medicare and majority What will to all benefit, medical that launch. is We to -- are

So encouraged that very process systems that about the makes the put and in place. us we

Operator

Our Thomason from next Edward question comes VLK. from

Edward Thomason

done. And Well good today. to the see prints

Just again. the please, a question, on ramp-up

You about build. specifically is this mentioned, inventory to Mark,

of Can you build? you roughly, in market actually how dynamics split playing then just could of is it out? the initial can go And how through we percentage sales that the is versus -- so sales -- there QX in saw that the of if talk we better understand out, much inventory

Mark Hahn

Edward. part that sure I'm of second Thanks, that you Can the part? question. I understood repeat not quite

Edward Thomason

can QX in that sales whether relates to the sales. was asked reported just versus I disclose of in-market how much you inventory actual build

Mark Hahn

build Okay. channel, Inventory in sure. the

nobody on rising the to weeks you about a different partner. haven't hand. pharmacy and But in number. X period could that So It on of in they're more can their building X the sales, inventory we depending weeks, anywhere than range, be disclosed specialty X that imagine holding

the that of can end for on you weeks X September. the been so imagine And at we've market

about X/X would so inventory or of the in at probably, sales inventory -- of So time. the that be

Edward Thomason

the COPD about noticed couple question then you've relates additional now Okay. to pending, one And exacerbations. a talked patents where I a that's know. change That's to slight separate notably on a of good IP. actually

be patent exacerbations? or commercial you important might of to specifically talk Can that ensifentrine against does to how that patent related PDXs prospect? just the use PDX, through And just COPD

David Zaccardelli

Yes.

talk me broadly. let So

of when of referring Of in The course, is, one results. very a patents We Those it think, and you're effect I IP did them all to. process. our at number as is enhanced -- look important exacerbations after as holistically. file on is the you are

to be to prosecuted. to over in be expect Orange number of them a Book X.X continue years coming the they X listed as We the

All of they totality -- those in intellectual should them, again, important, as protecting our property. are the be would of in

are were Ohtuvayre, constructed. the we see it's all But of So end and course, the I to claims the at important. related think how and are our of specific, day read we'll patents

patent. grounded formulation polymorph it's Ohtuvayre in our the critically to patents effect course, additional our the of are important. and patent limited Of also And

Edward Thomason

if And last Okay. one I question, may.

from patients commercial have Just user the Ohtuvayre? existing program into there been the can you been base confirm how And for clinical demand converted prescriptions? amongst many has ENHANCE

David Zaccardelli

Yes.

ended at follow-up discontinued not have when ENHANCE the trial. trials, end did -- we clinical patients long-term the any So of we ongoing. studies the were We

was review So NDA, FDA. plus know, at time that gap the year of the as you substantial write-up of between the the

So that Ohtuvayre. may we on trial come wouldn't in patients were and back the know be commercial have which

Operator

Our next Joon Truist. comes question from Lee from

Joon Lee

talk co-pay quarter. strong channels and reason? to the prescription Can rate about of on Congrats commercial abandonment rate due reimbursement the and or you across government any

guideline or And on soon, permanent COPD there the be approved then COPD? in Is the introduced getting is in that currently works the newly treatment that congrats could algorithm agents any given J-Code.

David Zaccardelli

dynamics. So maybe our have comment sort of Chris payer general just I'll on

Christopher Martin

Yes.

benefit, not are well. traditional launch, So either Medicare Joon, now, medical these I'd channel hurdles within at assumed patients benefit Medicare to seeing about Advantage. And significant through that processes these -- majority, Part medical require for we B through we get. say, thought We're we percent, very, when movement like a do Medicare reimbursement the going or very very, XX-plus right think

little It which the or to is partners side, What's independent, plan well. for access that as we're prior with get Ohtuvayre patients bit commercial require Ohtuvayre. that a also patients able to to that through process work to SP auth Medicaid. access our is encouraging having across within process. a but see We is does us Each in pharmacy benefit

dispensed of the than over and in setup that of very them patients is -- just scripts have about, a been well is thing launch other early The $XX. less on co-pay have during encouraging like talked XX% what we of about say, was let's think that again, the we

So cost they as And long bodes access, Ohtuvayre, very for think they access low have well how very the well. the launch to there's out-of-pocket about this think have term so and accelerates. as we I brand

was in a second guidelines As meeting we of your have At in a has which question, guideline Ohtuvayre guidelines conferences, placed November, upcoming meeting, there. far an regarding we that couple in know the as do days. to that that or opportunity be GOLD believe

As dyspnea of allows bronchodilation, exacerbation we've talked in in a the the is about Ohtuvayre consensus of and pathway the with and put guidelines, able there within guideline an pathway past, to anti-inflammatory a mechanism be different there. Ohtuvayre's unique action to committee variety novel spots nonsteroidal

today, we big be only for physicians and Ohtuvayre. talk an therapy our choice upside that what is we Ohtuvayre from can persistent When symptomatic well. is that bronchodilation very they persistently non-steroidal for have from or these as reps back patients a we therapy, triple symptoms, additional have patients are regardless add-on dual and to of that we HCPs good and to hear feedback need therapy. all potential Again, think thing These the on, this provide effects single, background patients anti-inflammatory the

Joon Lee

if shifted first all previously is as use that more. XX% add to Well, at of triple you which Has the therapy, in interesting. is mentioned could that Great. add-on of the launch? few Chris, months one an I really

Christopher Martin

very kind of No. Joon, early it's there's say to shift. been still if any

But triple. is these you for have of see on use is encouraging very we triple. XX% about us also I of other add-on thing patients the what that's aren't top on think

remember, an on through So research that Ohtuvayre in add-on lines these first or used could seeing market -- early October, alone said of across we're our as be that. therapy. all And

also bronchodilator. market We're And seeing added XX% our a single seeing all on about we what in triple, seeing on of with we're research. patients is being said we're While patients Ohtuvayre. early on ICS LABA patients that consistent

think a is and health encouragement we're on and to the patient of being that and launch. gives early the first of unmet launch utilization, out XXXX say seeing for need few play some the of we real work did that that the I of ongoing QX And when And us months these about able XXXX. what that in of lot about look that like, health

Operator

[Operator comes Instructions] next question Our from Capital ROTH Boobalan from Partners. Pachaiyappan

Boobalan Pachaiyappan

hear you Can me?

David Zaccardelli

of Yes, course.

Boobalan Pachaiyappan

the on progress. Congrats

have we X. So

the there's the most been COPD developments of in Firstly, recent notably landscape, Dupixent. approval some

So penetrating market patients the And for you about potential benefits prescribers from to triple ensifentrine offered expect the therapy? the by are we motivation of comprising is are headwinds on ensifentrine? there Dupi who as wondering, do for subsection excluding a you prioritize think cost COPD Dupi,

David Zaccardelli

Yes. Thanks for the question.

good approval of the I think, good was was for choices. the Dupixent of see it -- patients have COPD with to treatment It to for again, COPD. it's

it that think I highlights the additional need treatments. exists for

that said, patients relatively the Dupixent narrow Those of part as have a on XXX,XXX million addresses considering or patients well about market. With And about relatively know, narrow estimation, who triple you in a are the population U.S. patient number there therapy, patients, X.X have so are exacerbations, history maintenance on it's treatment. own by who modest the count. Sanofi, an elevated Regeneron's eosinophil are of

board, for currently are and anything, and large again, symptomatic it and, unmet who the population to the patient on the of needing additional all therapy. Because if of spotlight the patients treatments need impacting commercialization the we across medical at don't see Ohtuvayre bring and helping need

thought multiple be And addressing with patient different the course, why beneficial. for even that could modes the as said, mechanism that, if could that pharmacology, there Ohtuvayre action, with right of, of the of specific no used was of rationale for that not inflammation completely combination physician be we well, know is Dupixent that

bronchodilation have of the is of key other And its function of some and Ohtuvayre's helping day-out with bronchodilation. lung course, acute types to use improving that impact a as on acutely and well, basis and dyspnea day-in on approaches which don't

it's again, patient across and good very think view change because, our and of large I again, board the doesn't the need. unmet population So

Boobalan Pachaiyappan

second one one. also maybe the then and a Yes. And final

ensifentrine II X patients. study trials study Phase I sputum on recruiting you're clinical So morning, It's included trial COPD the of actually also clinical the programs. Phase that mentioned was for. at about looking to currently you in this effect website inflammation of a a this II markers website and

So know the the especially study, the if mechanistic see of to wanted or the PGP with I ensifentrine you implications pathway. interferes and understand acPGP

but then plan program into the program to are clinical to about more down outcomes exacerbation curious integrate trickle data, aside, fibrosis specifically it? focusing some your to that cystic on So potentially add-on maybe this could or study How other an and potentially clinical collect thinking how you way? I'm your strategy. Is you in this develop and commercial

David Zaccardelli

well comments. and very again, I in Tara, relatively deeper specifically Yes. in Maybe study at sputum on nature, understand as effects ensifentrine inhibition. continuing to is PDX small, this And study PDX, But can of pharmacology comment you and think, mechanistic I'll of the make a markers on looking couple the sputum its the itself. but

think best the study, at outcome see carefully patients then that look that in the COPD And I other data then moving forward, and help in utilize whether will can way the of we we indications. as or in we to

don't I if, to question. that, do with know, Tara, to so want that And you add anything

Tara Rheault

Yes.

trial at migration and also inflammation the it's I inflammatory looking pathway crossover into an acPGP the think looking at cell X-week through lung.

with we COPD. events the characterize ensifentrine mentioned, expect be to patients of as So that in pharmacology do Dave better helpful to

results the we challenged sputum Of and though given macrophages, across we data program. have to similar nice strong eosinophils study volunteers in exacerbation neutrophils, and a particularly saw course, conducted expect from the ENHANCE COPD lymphocytes, effect already healthy or patients, with a LPS do see

Operator

question-and-answer today's to Dr. time, to gentlemen, be the and ending comments. over session. ladies closing any floor for Zaccardelli I'd this like turn back And we'll at

David Zaccardelli

and everyone, for questions. Great. us joining for Thank today's your you, call on

and and In to talented and Pharma their for I shareholders support addition, Verona for especially the at work thank our dedicated their commitment. want team

and of our Phase as And updating of calls future well. extremely you forward great day. seeing conferences much, are we forward very have as the launch on look to advancement to Ohtuvayre II look excited trials about the you We and well. X Thanks at a and

Operator

Ladies thank today's conclude and gentlemen, and presentation. joining. call you with for we'll that, do We conference

now may disconnect You lines. your

Verona Pharma (VRNA) 4 Nov 242024 Q3 Earnings call transcript