Verona Pharma, a biopharmaceutical company focused on respiratory diseases, has reported strong initial sales for its product Ohtuvayre (ensifentrine) in the fourth quarter and full year of 2024. The company recorded approximately $36 million in net product sales for the fourth quarter and $42 million for the full year.
During the launch period, more than 3,500 unique healthcare professionals prescribed Ohtuvayre, resulting in over 16,000 prescriptions filled, with approximately one-third being patient refills in 2024. The product has been prescribed across a broad chronic obstructive pulmonary disease (COPD) population, with approximately 45% of tier 1 healthcare professionals prescribing Ohtuvayre.
The company also reported positive feedback from healthcare professionals and patients, including robust refill rates and increasing prescriber depth, with over 150 healthcare professionals prescribing Ohtuvayre to more than 20 patients in their practice.
Verona Pharma's cash position at December 31, 2024, was approximately $400 million, compared to $271.8 million at December 31, 2023. Net product sales for the fourth quarter of 2024 related to Ohtuvayre were approximately $36 million, compared to $0 million in the fourth quarter of 2023.
The company's product-specific J-code, J7601, became effective on January 1, 2025. Verona Pharma also completed enrollment in a phase 2 dose-ranging trial with glycopyrrolate, supporting a fixed-dose combination program for the maintenance treatment of COPD via a nebulizer.
In terms of upcoming milestones, the company continues to enroll subjects in a phase 2 trial to assess the efficacy and safety of nebulized ensifentrine in patients with non-cystic fibrosis bronchiectasis.
These preliminary financial results are based on the information available to the company at this time and have not been audited or reviewed by the company’s independent registered public accounting firm. Therefore, actual results may vary from the estimated preliminary results presented.
Verona Pharma's Ohtuvayre, the first inhaled therapy for the maintenance treatment of COPD that combines bronchodilator and non-steroidal anti-inflammatory activities in one molecule, has shown promising sales figures in its initial launch period, indicating a strong start for the product in the market. As a result of these announcements, the company's shares have moved 4.8% on the market, and are now trading at a price of $46.98. For more information, read the company's full 8-K submission here.
