Verona Pharma plc. (NASDAQ:VRNA) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET

Company Participants

David Zaccardelli - Chief Executive Officer

Mark Hahn - Chief Financial Officer

Kathy Rickard - Chief Medical Officer

Christopher Martin - Senior Vice President of Commercial

Conference Call Participants

Andreas Argyrides - Wedbush

Andrew Tsai - Jefferies

Edward Nash - Canaccord Genuity

Thomas Shrader - BTIG

Boobalan Pachaiyappan - H.C. Wainwright

Operator

Welcome to Verona Pharma Second Quarter 2023 Financial Results and Operating Highlights Conference Call. At this time all participants are in listen-only mode. Earlier this morning, Verona Pharma issued a press release announcing its financial results for the 3-months ended on June 30th, 2023. A copy can be found in the Investor Relations tab on the corporate website, www.veronapharma.com.

Before we begin, I’d like to remind you that during today’s call, statements about the company’s future expectations, plans and prospects are forward-looking statements. These forward-looking statements are based on the management’s current expectations. These statements are neither promise, be guaranteed and involves known and unknown risks, uncertainties and other important factors that may cause the actual results, performance and achievements to be materially different from the expectations expressed in implanting for forward-looking statements. Any such forward-looking statements represented management existing on the date of this conference call. While the company may elect to update such forward-looking statements at some point in the future, it declaims any obligation to do so, even if subsequent events cause its views to change.

As a reminder, this call is being recorded and will remain available for 90 days. I would now like to turn the conference over to Dr. David Zaccardelli, Chief Executive Officer.

David Zaccardelli

Thank you, and welcome, everyone, to today’s call. With me today are Mark Hahn, our Chief Financial Officer; Dr. Kathy Rickard, our Chief Medical Officer; and Chris Martin, our Senior Vice President of Commercial.

During the second quarter, we made substantial progress towards our goal of bringing ensifentrine to COPD patients with the submission of a new drug application to the FDA for nebulized ensifentrine for the maintenance treatment of COPD. The NDA submission is comprised of data from the successful Phase 3 ENHANCE program and other ensifentrine clinical studies, including safety data from approximately 3,000 subjects. We look forward to working with the FDA on the submission and providing an update in the third quarter.

In May, we presented additional analyses from the ENHANCE studies at the American Thoracic Society International Conference across 12 abstracts and a clinical trial symposium on subgroup data and pooled analyses from ENHANCE 1 and ENHANCE 2 covering exacerbations, symptoms, quality of life, use of rescue medication, health care utilization and safety.