NASDAQ$VRNA
Verona Pharma plc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported financial results for the fourth quarter and full year ended December 31, 2022, and provided a corporate update.
Verona Pharma reported positive Phase 3 data from its ENHANCE-1 trial and completed a $150 million debt financing facility in Q4 2022. Cash and cash equivalents were $227.8 million at the end of the year, which, combined with other funding sources, is expected to fund operations through at least the end of 2025. The company is preparing for a planned commercial launch of ensifentrine in the US in 2024.
- Reported positive top-line Phase 3 data from ENHANCE-1 trial, meeting primary and key secondary endpoints.
- Completed a $150 million debt financing facility with Oxford Finance.
- Cash and cash equivalents at December 31, 2022, were $227.8 million.
- Expect to submit an NDA to the US FDA in the second quarter of 2023 for inhaled ensifentrine for the maintenance treatment of patients with COPD.
Headline financials
Revenue & EPS history
Verona Pharma · Revenue · Quarterly
$458K
Forward guidance
Verona Pharma anticipates a pivotal 2023, focusing on preparing for the potential US commercial launch of ensifentrine in 2024, pending FDA approval. The company plans to submit an NDA in Q2 2023 and release further data from the ENHANCE trials at upcoming scientific conferences.
Tailwinds
- Planned NDA submission to the US FDA in Q2 2023.
- Potential commercial launch of ensifentrine in the US in 2024, if approved.
- Release of additional data from ENHANCE trials at upcoming scientific conferences.
- Potential for ensifentrine to be the first therapy combining bronchodilator and non-steroidal anti-inflammatory benefits.
- Expect these funds to extend our cash runway through at least the end of 2025.
Headwinds
- Reliance on the success of ensifentrine.
- Uncertain outcome of the lengthy and expensive clinical drug development process.
- Potential for serious adverse side effects associated with ensifentrine.
- Dependence on third parties for development and commercialization.
- Vulnerability to unexpected events, including health epidemics or pandemics
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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