Stock Track | Verona Pharma Soars on Strong Ohtuvayre Launch and Q3 Revenue Beat

Stock Track11-05

Shares of Verona Pharma plc (NASDAQ: VRNA) surged by 12.49% on November 4, 2024, following the company's impressive third-quarter 2024 financial results and updates on the successful launch of its COPD drug Ohtuvayre (ensifentrine).

For the quarter ended September 30, 2024, Verona Pharma reported net sales of $5.6 million, significantly beating analyst estimates of around $2 million. This robust revenue performance was primarily driven by the initial launch of Ohtuvayre, which received FDA approval in June 2024 for the maintenance treatment of chronic obstructive pulmonary disease (COPD).

According to the company, Ohtuvayre recorded over 5,000 prescriptions filled and was prescribed by more than 2,200 unique healthcare professionals across a broad COPD patient population in just the first 12 weeks of launch. Notably, Verona Pharma stated that net sales in October exceeded the third quarter, indicating continued acceleration in demand for the novel COPD therapy.

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