Verona Pharma PLC Stock Research

Market Summary

USD22.90+0.20

Delayedas of 23 Jan 2023, 10:12 am

0.88%

VRNA Alerts

5 major insider sales recently.

VRNA Stock Price

VRNA RSI Chart

VRNA Valuation

Market Cap

13.9B

Price/Earnings (Trailing)

-169.93

Price/Sales (Trailing)

126.66

EV/EBITDA

-169.15

Price/Free Cashflow

-199.44

VRNA Price/Sales (Trailing)

VRNA Profitability

EBT Margin

-136.94%

Return on Equity

-34.32%

Return on Assets

-29.65%

Free Cashflow Yield

-0.5%

VRNA Fundamentals

VRNA Revenue

Revenue (TTM)

40.0M

Revenue Y/Y

378.26%

Revenue Q/Q

100%

VRNA Earnings

Earnings (TTM)

-81.5M

Earnings Y/Y

19.49%

Earnings Q/Q

28.47%

Price Action

52 Week Range

3.4126.44

(Low)(High)

Last 7 days

-5.1%

Last 30 days

-2.2%

Last 90 days

115.8%

Trailing 12 Months

242.9%

VRNA Financial Health

Current Ratio

8.04

VRNA Investor Care

Shares Dilution (1Y)

26.08%

Diluted EPS (TTM)

-0.17

Financials for Verona Pharma

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2
Revenue	NaN%	null	null	40,000,000	30,069,000	20,138,000
Gross Profit	-	160,000,000	-	-	-	-
Operating Expenses	-7.0%	107,482,000	115,522,000	113,313,000	112,547,000	-
S&GA Expenses	-7.7%	29,606,000	32,065,000	33,907,000	39,604,000	-
R&D Expenses	-6.7%	77,876,000	83,457,000	79,406,000	72,943,000	-
EBITDA	7.5%	-53,778,000.00	-58,153,000.00	-54,618,000.00	-	-
EBITDA Margin	7.5%	-1.34	-1.45	-	-	-
Earnings Before Taxes	7.4%	-54,776,000.00	-59,132,000.00	-55,587,000.00	-56,864,000.00	-
EBT Margin	7.4%	-1.37	-1.48	-	-	-
Interest Expenses	1.8%	346,000	340,000	340,000	290,000	-
Net Income	7.3%	-54,814,000.00	-59,116,000.00	-55,569,000.00	-57,132,000.00	-
Net Income Margin	7.3%	-1.37	-1.48	-	-	-
Free Cahsflow	2.3%	-28,551,000.00	-29,227,000.00	-33,266,000.00	-	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	77.5%	275	155	169	187	202
Current Assets	86.4%	258	139	153	170	184
Cash Equivalents	107.8%	232	112	133	148	167
Net PPE	-11.0%	0	0	0	0	0
Goodwill	-0.2%	1	1	1	1	1
Liabilities	-15.0%	37	44	43	39	33
Current Liabilities	-17.3%	32	39	38	33	28
LT Debt, Non Current	1.1%	5	5	5	5	5
Shareholder's Equity	114.2%	237	111	126	148	168
Retained Earnings	-5.1%	-322.44	-306.65	-288.74	-263.72	-240.29
Additional Paid-In Capital	34.6%	526	391	388	385	382
Shares Outstanding	24.1%	602	485	483	480	478

* denotes actual numbers (not divided by Millions)

Cashflow (Last 12 Months)					(In Thousands)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	-143.4%	-69,447.00	-28,527.00	-29,215.00	-33,254.00	-34,726.00
Share Based Compensation	-13.3%	13,804	15,926	20,323	25,425	34,112
Cashflow From Investing	26.8%	-30.00	-41.00	-12.00	-12.00	-20.00
Cashflow From Financing	3422.1%	137,303	-4,133.00	-6,843.00	-6,117.00	-1,266.00

Risks for VRNA

What is the probability of a big loss on VRNA?

100%

Probability that Verona Pharma stock will be more than 20% underwater in next one year

100%

Probability that Verona Pharma stock will be more than 30% underwater in next one year.

87.7%

Probability that Verona Pharma stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does VRNA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Verona Pharma was unfortunately bought at previous high price.

Drawdowns

Returns for VRNA

Cumulative Returns on VRNA

12.1%

5-Year Cumulative Returns

52.4%

3-Year Cumulative Returns

What are the long-term rolling returns for VRNA?

FIve years rolling returns for Verona Pharma.

Annualized Returns

Which funds bought or sold VRNA recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-01-19	Stratos Wealth Partners, LTD.	new	-	479,747	479,747	0.01%
2023-01-13	JANUS HENDERSON GROUP PLC	new	-	6,138,000	6,138,000	-%
2022-11-16	GLENMEDE TRUST CO NA	new	-	308,000	308,000	-%
2022-11-15	CONCOURSE FINANCIAL GROUP SECURITIES, INC.	sold off	-	-	-	-%
2022-11-15	STATE STREET CORP	new	-	4,234,000	4,234,000	-%
2022-11-14	Octagon Capital Advisors LP	new	-	13,540,000	13,540,000	2.34%
2022-11-14	TWO SIGMA ADVISERS, LP	new	-	1,568,000	1,568,000	-%
2022-11-14	BREWIN DOLPHIN LTD	unchanged	-	-1,000	3,000	-%
2022-11-14	SPHERA FUNDS MANAGEMENT LTD.	new	-	1,226,000	1,226,000	0.17%
2022-11-14	NEA Management Company, LLC	added	9.32	35,671,000	57,076,000	2.85%

Latest Funds Activity

Are funds buying VRNA calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own VRNA

No. of Funds

VRNA Alerts

5 major insider sales recently.

Verona Pharma News

Schedule 13G FIlings of Verona Pharma

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Dec 27, 2022	orbimed advisors llc	5.6%	4,260,691	SC 13D/A
Sep 07, 2022	growth equity opportunities fund iv, llc	7.9%	46,447,651	SC 13D/A
Feb 14, 2022	ra capital management, l.p.	9.99%	48,778,172	SC 13G/A
Feb 11, 2022	vivo ventures vi, llc	0%	0	SC 13G/A
Feb 04, 2022	wellington management group llp	8.34%	38,655,904	SC 13G
Feb 16, 2021	ra capital management, l.p.	9.99%	41,543,004	SC 13G
Feb 05, 2021	novo holdings a/s	3.1%	12,893,250	SC 13G/A
Oct 05, 2020	novo holdings a/s	5.4%	22,639,667	SC 13D/A
Aug 03, 2020	growth equity opportunities fund iv, llc	10.2%	42,638,131	SC 13D/A
Jul 31, 2020	abingworth llp	5.1%	21,064,222	SC 13D/A

VRNA Fair Value

Recent SEC filings of Verona Pharma

View All Filings

Date Filed	Form Type	Document
Dec 27, 2022	4	Insider Trading
Dec 27, 2022	4	Insider Trading
Dec 27, 2022	4	Insider Trading
Dec 27, 2022	SC 13D/A	13D - Major Acquisition
Dec 21, 2022	4	Insider Trading
Dec 21, 2022	4	Insider Trading
Dec 20, 2022	8-K	Current Report
Nov 15, 2022	S-8	Employee Benefits Plan
Nov 09, 2022	10-Q	Quarterly Report
Nov 09, 2022	8-K	Current Report

Latest Insider Trading transactions for VRNA

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-12-23	ORBIMED ADVISORS LLC	sold	-49,576,600	22.8425	-2,170,370	-
2022-12-23	Gupta Rishi	sold	-49,576,600	22.8425	-2,170,370	-
2022-12-22	Poll Claire	sold	-646,032	2.6918	-240,000	general counsel
2022-12-22	ORBIMED ADVISORS LLC	sold	-86,424,200	21.7721	-3,969,500	-
2022-12-22	Gupta Rishi	sold	-86,424,200	21.7721	-3,969,500	-
2022-12-20	Hahn Mark W	sold	-1,269,060	2.1151	-600,000	chief financial officer
2022-12-20	ZACCARDELLI DAVID	sold	-1,269,600	2.116	-600,000	president and ceo
2022-11-22	Poll Claire	gifted	-	-	170,000	general counsel
2022-11-22	Poll Claire	gifted	-	-	-170,000	general counsel
2022-11-01	Hahn Mark W	sold	-22,011.4	1.6726	-13,160	chief financial officer

About Verona Pharma

David S. Zaccardelli

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis. It is developing ensifentrine in three formulations, including nebulizer, dry powder inhaler, and pressurized metered-dose inhaler. Verona Pharma plc was incorporated in 2005 and is headquartered in London, the United Kingdom.

VRNA Income Statement

2022-09-30

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 0	$ 40,000	$ 0	$ 40,000
Gross profit	0	40,000	0	40,000
Operating expenses
Research and development	9,838	22,560	42,445	56,697
Selling, general and administrative	5,290	10,883	18,256	28,150
Total operating expenses	15,128	33,443	60,701	84,847
Operating (loss)/profit	(15,128)	6,557	(60,701)	(44,847)
Other (expense)/income
Research and development tax credit	2,127	4,749	8,838	10,655
Interest income	779	4	959	11
Interest expense	(116)	(86)	(291)	(255)
Fair value movement on warrants	0	40	0	2,244
Foreign exchange (loss)/gain	(3,245)	(86)	(6,830)	117
Total other (expense)/income, net	(455)	4,621	2,676	12,772
(Loss)/profit before income taxes	(15,583)	11,178	(58,025)	(32,075)
Income tax expense	(64)	(127)	(225)	(232)
Net (loss)/profit	$ (15,647)	$ 11,051	$ (58,250)	$ (32,307)
Profit/(loss) per share, basic (in dollars per share)	$ (0.03)	$ 0.02	$ (0.12)	$ (0.07)
Profit/(loss) per share, diluted (in dollars per share)	$ (0.03)	$ 0.02	$ (0.12)	$ (0.07)
Weighted-average shares outstanding, basic (in shares)	544,134,136	475,334,354	503,751,844	471,159,171
Weighted-average shares outstanding, diluted (in shares)	544,134,136	515,819,439	503,751,844	471,159,171

VRNA Balance Sheet

2022-09-30

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 231,701	$ 148,380
Prepaid expenses	3,355	4,037
Tax and tax incentive receivable	20,321	15,583
Other current assets	3,077	2,063
Total current assets	258,454	170,063
Non-current assets:
Furniture and equipment, net	81	80
Goodwill	544	545
Equity interest	15,000	15,000
Right-of-use assets	793	899
Total non-current assets	16,418	16,524
Total assets	274,872	186,587
Current liabilities:
Accounts payable	8,002	10,044
Accrued expenses	22,978	22,256
Operating lease liability	569	648
Taxes payable	285	147
Other current liabilities	294	327
Total current liabilities	32,128	33,422
Non-current liabilities:
Term loan	5,035	4,874
Operating lease liability	224	286
Total non-current liabilities	5,259	5,160
Total liabilities	37,387	38,582
Commitments and contingencies
Shareholders' equity:
Ordinary £0.05 par value shares; 608,138,246 and 489,177,550 issued, and 602,215,606 and 480,082,966 outstanding, at September 30, 2022 and December 31, 2021, respectively	39,119	31,855
Additional paid-in capital	525,858	385,070
Ordinary shares held in treasury	(449)	(603)
Accumulated other comprehensive loss	(4,601)	(4,601)
Accumulated deficit	(322,442)	(263,716)
Total shareholders' equity	237,485	148,005
Total liabilities and shareholders' equity	$ 274,872	$ 186,587