Verona Pharma's US shares rise on FDA nod for chronic lung disease therapy

Verona Pharma

27/06/2024 10:52

** U.S.-listed shares of drugmaker Verona Pharma  VRNA.O 
rise 5.6% to $15.51 premarket
    ** Late-Wednesday, U.S. FDA approved the UK-based company's
inhaled therapy as maintenance treatment for a chronic lung
disease
    ** The agency's assent for the therapy, branded as
Ohtuvayre, is the company's first and provides a new inhaled
non-steroidal treatment for chronic obstructive pulmonary
disease (COPD)
    ** Co, which expects the therapy to be available in Q3, will
provide details on pricing during an investor conference call on
Thursday 
    ** COPD is chronic condition which causes restricted airflow
and breathing problems
    ** Brokerage BTIG estimated the drug could generate $3.6 bln
in peak sales
    ** As of last close, U.S.-listed stock down ~26% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))