Verona Pharma gains as lung disease therapy meets main goal in late-stage study

Verona Pharma

20/12/2022 16:08

(Updates)
    ** U.S.-listed shares  VRNA.O  of biopharma company Verona
Pharma Plc up 34.8% at $18.20, hit more than 4-1/2 year high 
    ** Company says its experimental lung disease therapy
ensifentrine to treat COPD meets main goal in late-stage study,
with statistically significant improvements in lung function
    ** COPD, or chronic obstructive pulmonary disease, causes
airflow blockage and breathing-related problems
    ** Brokerage BTIG says ensifentrine looks approvable 
    ** Trial showed 36% reduction in COPD exacerbations that
cause irreversible lung damage, nearly twice the reductions seen
for the currently available drug roflumilast - brokerage
    ** Brokerage Piper Sandler says data consistent with that
reported from an earlier trial; says two positive datasets
boosts probability of success for approval
    ** Marketing application planned for first half of 2023,
company says
    ** Including session's gain, Verona's U.S.-listed shares
have more than doubled YTD
 (Reporting by Pratik Jain and Sriparna Roy in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))