Verona Pharma plc (NASDAQ:VRNA) Q2 2024 Earnings Conference Call August 8, 2024 9:00 AM ET

Company Participants

David Zaccardelli - President and Chief Executive Officer
Mark Hahn - Chief Financial Officer
Christopher Martin - Chief Commercial Officer
Tara Rheault - Chief Development Officer

Conference Call Participants

Andrew Tsai - Jefferies Group LLC
Thomas Shrader - BTIG, LLC
Raghuram Selvaraju - H.C. Wainwright & Co.
Edward Thomason - Van Lanschot Kempen

Operator

Welcome to Verona Pharma’s Second Quarter 2024 Financial Results and Operating Highlights Conference Call. At this time, all participants are in a listen-only mode. Earlier this morning, Verona Pharma issued a press release announcing its financial results for the 3 months ended June 30, 2024. 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 today’s call statements about the company’s future expectations, plans, and prospects are forward-looking statements. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from our expectations expressed or implied by the forward-looking statements.

Any such forward-looking statements represent management’s estimates as of the date of this conference call. While the company may elect to update such forward-looking statements at some point in the future, it disclaims 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’d now like to turn the call 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; Chris Martin, our Chief Commercial Officer; and Dr. Tara Rheault, our Chief Development Officer.

The second quarter was an exceptional for Verona Pharma, marked by the U.S. FDA approval of Ohtuvayre for the maintenance treatment of COPD. Ohtuvayre is the first inhaled COPD treatment to provide both bronchodilation and non-steroidal anti-inflammatory effects, and we believe this approval can redefine the treatment paradigm for COPD in the U.S.

Today, we announced Ohtuvayre is now available through our exclusive network of specialty pharmacies and patient shipments have begun. We are very excited to share this achievement with you and are confident that our extensive preparation positioned us for the successful commercialization of Ohtuvayre in the U.S.