NASDAQ$VRNA
Verona Pharma plc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported financial results for the second quarter of 2021 and provided a corporate update.
Verona Pharma reported progress on their Phase 3 ENHANCE program and a strategic collaboration with Nuance Pharma. They also announced their Q2 2021 financial results, including a net loss of $22.1 million and cash and cash equivalents of $146.0 million.
- Phase 3 ENHANCE program is on track to report top-line data in 2022.
- Strategic collaboration with Nuance Pharma in Greater China for up to $219 million.
- ENHANCE-2 expected to report top-line data in the first half of 2022 and ENHANCE-1 in the second half of 2022.
- Received $40.0 million upfront payment from Nuance Pharma, consisting of $25.0 million in cash and an equity interest valued at $15.0 million.
Headline financials
Revenue & EPS history
Verona Pharma · Revenue · Quarterly
$103M
Forward guidance
Verona Pharma expects to report top-line data from ENHANCE-2 in the first half of 2022 and ENHANCE-1 in the second half of 2022, but these timelines may be affected by the COVID-19 pandemic.
Tailwinds
- ENHANCE Phase 3 program on track to report top-line data in 2022
- Strategic collaboration with Nuance Pharma provides additional funds to support development efforts
- Expect ENHANCE-2 to be approximately 70% enrolled by the end of August.
- Expect the 48-week subset in ENHANCE-1 to be approximately 80% enrolled by the end of August.
- Company believes cash and cash equivalents will enable funding of planned operating expenses and capital expenditure requirements through at least 2023.
Headwinds
- COVID-19 related challenges have put pressure on recruitment timelines.
- Timelines may be affected by the COVID-19 pandemic.
- Models predict top-line data would be expected in the third quarter of 2022 from ENHANCE-2 and the fourth quarter of 2022 from ENHANCE-1 should COVID-19 related challenges continue to increase.
- The COVID-19 pandemic continues to impact a number of clinical trial activities.
- Closely monitoring the potential impact of the COVID-19 pandemic on its operations and clinical trials.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports
+3.3%
Avg return
Earnings day
+7.2%
Avg return
5 days after
+5.6%
Avg return
30 days after
48%
12 / 25 earnings
Positive
+56.8%
Q2 2022
Best reaction
-14.7%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | — | — | — | |
| Q2 2025 | -0.0% | -0.1% | +0.9% | |
| Q1 2025 | +6.4% | +5.6% | +12.5% | |
| Q4 2024 | +5.7% | +6.4% | +1.5% | |
| Q3 2024 | +9.7% | +10.2% | +14.0% | |
| Q2 2024 | +15.8% | +36.5% | +35.1% | |
| Q1 2024 | -0.2% | -6.8% | -18.4% | |
| Q4 2023 | +5.4% | -1.1% | -6.4% | |
| Q3 2023 | +7.6% | — | — | |
| Q2 2023 | -3.4% | — | — | |
| Q1 2023 | +7.1% | — | — | |
| Q4 2022 | -8.5% | — | — | |
| Q3 2022 | -5.8% | — | — | |
| Q2 2022 | +56.8% | — | — | |
| Q1 2022 | +3.8% | — | — | |
| Q4 2021 | -1.1% | — | — | |
| Q3 2021 | -1.7% | — | — | |
| Q2 2021 | +3.9% | — | — | |
| Q1 2021 | -4.4% | — | — | |
| Q4 2020 | -0.1% | — | — | |
| Q2 2020 | +10.3% | — | — | |
| Q4 2019 | -14.7% | — | — | |
| Q4 2018 | -3.3% | — | — | |
| Q3 2018 | +2.1% | — | — | |
| Q4 2017 | -3.5% | — | — | |
| Q3 2017 | -4.2% | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q4 2012 | — | — | — |
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