Verona Pharma (VRNA) 2025 Conference June 04, 2025 11:05 AM ET Speaker0 We're gonna get started with the next session. I'm Andrew Tsai, senior biotech analyst at Jefferies, and it's my pleasure to have the Verona team with me. To my direct left, Chris Martin, CCO, and to his left, David Zaccardale, President and CEO. Welcome both of you. Thanks, Andrew. Thanks. Maybe spend one or two minutes talking about the Verona story. I think a lot of people are familiar, but there are still people unfamiliar with your ...

Financial Data and Key Metrics Changes - The company reported total revenue of over $45 million for Q1 2025, representing a 46% increase from $31 million in the same period last year [33][34] - Adjusted earnings per share (EPS) for Q1 2025 was $1.33, up from $1.20 in Q1 2024 [42] - Royalty revenue increased by 44% year-over-year, totaling $27.5 million in Q1 2025 [34][35] Business Line Data and Key Metrics Changes - Varonis' O2VARE reported net sales of $71.3 million in Q1 2025, nearly double the previous quarter's results [37] - Trevyr's Filspari achieved first-quarter U.S. sales of $56 million, representing over 180% year-over-year growth [38] - Merck's Capaxib reported Q1 sales of $107 million, more than double the prior quarter [39] Market Data and Key Metrics Changes - The company has over $200 million in cash and investments, with no debt and access to a $125 million revolving credit facility [8] - The current biopharmaceutical financing environment is challenging, leading to increased demand for royalty financing [10][11] Company Strategy and Development Direction - The company aims to deliver profitable and compounding growth through a diversified portfolio of royalty assets [14][16] - A focus on acquiring late-stage development assets and commercial assets with superior risk-reward profiles is central to the company's strategy [15][17] - The company anticipates long-term royalty revenue growth to meet or exceed a 22% compound annual growth rate [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future prospects, citing a strong start to 2025 and the potential for significant growth drivers [44] - The company is navigating short-term disruptions due to policy changes but remains focused on delivering clinical value [50][56] - Management noted that the current environment presents opportunities for mergers and acquisitions in the biotech sector [49] Other Important Information - The company executed a strategic transaction to merge its subsidiary, Pylthos Therapeutics, with Channel Therapeutics, raising $50 million in equity capital [22] - ZELSUVME, an FDA-approved therapy for molluscum contagiosum, is positioned as a first-line treatment option [29][31] Q&A Session Summary Question: Current environment for the space and special situations - Management noted an increase in special situations due to difficult financing markets for biotech companies, presenting good opportunities for the company [48][50] Question: Impact of most favored nation's status for drug pricing - Management indicated that while there may be short-term disruptions, the long-term outlook remains positive as most partners focus on the U.S. market [55][58] Question: Investment capacity and opportunities - Management expects to invest above the normal pace this year due to the number of good opportunities, while maintaining diversification limits [76][78] Question: Launch timing for ZELSUVME - The launch is expected to be independent of the merger closing, with preparations already underway [83] Question: Revenue trends for the year - Management anticipates a balanced revenue cadence throughout the year, reiterating guidance for Captisol and royalty revenue [88]

Verona Pharma (VRNA) Q1 2025 Earnings Call April 29, 2025 02:11 PM ET Speaker0 Welcome to Verona Pharma's First Quarter twenty twenty five Financial Results and Operating Highlights Conference Call. At this time, all participants are in a listen only mode. I'd now like to turn the call over to Victoria Stewart, Senior Director, Investor Relations and Communications. Please go ahead. Speaker1 Thank you. Earlier this morning, Corona Pharma issued a press release announcing its financial results for the three ...

Verona Pharma (VRNA) Q1 2025 Earnings Call April 29, 2025 09:00 AM ET Company Participants Victoria Stewart - Senior Director - Investor Relations & CommunicationsDavid Zaccardelli - President & CEOMark Hahn - Chief Financial OfficerAndrew Tsai - SVPChristopher Martin - Chief Commercial OfficerTiago Fauth - Director - Equity Research Small/Mid Cap BiotechnologyTara Rheault - Chief Development OfficerKathleen Rickard - Chief Medical OfficerRaghuram Selvaraju - Managing Director, Healthcare Equity Research Co ...