Verona Pharma plc (NASDAQ: VRNA) is engaged as a clinical-stage biopharmaceutical company, which is focused on the research, development and commercialization of next-generation treatments for respiratory diseases. Shares of the biopharma company are soaring 59% through early trading on Tuesday, August 9, 2022. Over the past three months, Verona Pharma has seen average daily volume of 91,990 shares. However, volume of 27.72 million shares or dollar volume of around $336.8 million, has already exchanged hands through early trading.
Shares of Verona Pharma are surging after the company released top-line results from its Phase 3 ENHANCE-2 clinical trial of ensifentrine for the treatment of chronic obstructive pulmonary disease (COPD). Not only were the primary endpoints successfully met, management noted that its secondary endpoints were also achieved during the trial. Ensifentrine is a first-in-class, dual inhibitor of enzymes phosphodiesterase 3 and 4 combining bronchodilator and anti-inflammation capabilities into one treatment.
The primary endpoint was met after the treatment group saw statistically significant improvements in COPD severity, inhaled corticosteroids (ICS) use, chronic bronchitis, and more. Ensifentrine demonstrated a 42% reduction in moderate-to-severe COPD exacerbations over a 24 week period compared to the placebo group. Quality of life measurements showed improvements in the treatment group, which demonstrates the drug candidate’s ability to improve lung function and reduce COPD episodes.
The drug candidate demonstrated a strong safety profile, which showed the treatment was well tolerated among the test group and in-line with results from the placebo group. Management says they plan to submit its Phase 3 trial full report before the end of 2022. In addition, Verona Pharma says they will submit a New Drug Application with the U.S. Food and Drug Administration during the first half of 2023.
Antonio Anzueto, MD, Professor of Medicine and Section, Chief of Pulmonary at South Texas Veterans Healthcare System, commented: “Ensifentrine has demonstrated clear improvements in lung function in addition to favorable safety results. I am extremely excited by the clinically meaningful 42% reduction in the rate of exacerbations observed over 24 weeks in these symptomatic patients, many receiving background therapy. Based on these meaningful results, I believe ensifentrine, if approved, will be an important new class of bronchodilator and non-steroidal anti-inflammatory therapy for COPD patients providing a much needed alternative to existing treatments.”
Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/