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

Verona Pharma

20/12/2022 12:56

** U.S.-listed shares of Verona Pharma Plc  VRNA.O  jump
~32% premarket to $17.80
    ** UK-based biopharma co says its experimental lung disease
therapy met the main goal in a late-stage study, with
statistically significant improvements in lung function,
symptoms and quality of life
    ** Adds the therapy ensifentrine shows 36% reduction in rate
of chronic obstructive pulmonary disease (COPD) exacerbations,
which are episodes causing symptoms to worsen
    ** Co is developing the therapy as a potential treatment for
lung disease COPD, which causes airflow blockage and
breathing-related problems
    ** Marketing application planned for the first half of 2023-
VRNA
    ** Brokerage Piper Sandler says the data is consistent with
data reported from an earlier trial, adds two positive datasets 
boosts probability of success for approval 
    ** Up to Monday's close, stock had risen ~100% YTD compared
with a ~12% decline in the Nasdaq Biotechnology index  .NBI 
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))