Verona Pharma reports Q1 net loss $25.8M; PDUFA for ensifentrine June 26, secures $650M financing

Verona Pharma plc

2024-Q1 EPS reported -$0.04

Net loss $25.8M for Q1 2024 vs $16.7M in Q1 2023; SG&A costs rose to $20.4M on launch prep.
Cash and equivalents $254.9M at March 31, 2024; new $650M strategic financing available.
PDUFA target date for ensifentrine (COPD) is June 26, 2024; no advisory committee planned.
R&D expenses fell to $6.8M (Q1 2023: $12.6M) as ENHANCE Phase 3 program completed in 2023.
If approved, commercial launch in US expected Q3 2024; Phase 2 trials in COPD combo and bronchiectasis planned H2 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Verona Pharma plc reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

Verona Pharma plc announced its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001657312-24-000011

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