Verona Pharma(US:VRNA)2021-02-26 18:18Ensifentrine: A Novel Respiratory Therapy - Ensifentrine is a Phase 3, first-in-class candidate for unmet respiratory needs, acting as an inhaled PDE3 and PDE4 inhibitor[4] - Clinical trials involving over 1300 subjects showed a safety profile similar to placebo[4, 14] - Ensifentrine impacts 3 key mechanisms in respiratory disease: airway smooth muscle, inflammatory cells, and epithelial cells[9] - Phase 2b data showed statistically significant and clinically meaningful improvements in lung function with the 3 mg dose[14] - Phase 2b trials also demonstrated statistically significant and clinically meaningful improvements in symptoms and Quality of Life measures[14] Market Opportunity and Commercialization - The total US sales of chronic maintenance COPD therapies is $96 billion[4] - There are 12 million US COPD patients failing despite maximum therapy[4] - The average annual WAC price of existing nebulized COPD drugs is $12000[59, 66] - Over 85% of lives will be covered by payers, with the remainder through Medical Exception[63] Financial Status - As of December 31, 2020, Verona Pharma had $1880 million in cash and equivalents[73] - Operating expenses for FY 2020 were $743 million[73]