Verona Pharma Sees Strong Q4 Sales and Promising Future for Ohtuvayre
Sales Performance Highlights
Verona Pharma plc has released its preliminary unaudited sales data for Ohtuvayre. In the fourth quarter of 2024, the company reported approximately $36 million in net product sales, contributing to a total of $42 million for the entire year. Ohtuvayre, aimed at treating chronic obstructive pulmonary disease (COPD), has seen remarkable engagement, with over 3,500 healthcare professionals prescribing the drug. This has led to more than 16,000 prescriptions filled, including a significant number of refills. The company noted notable month-over-month growth in both new and refill prescriptions. Ohtuvayre combines bronchodilator and anti-inflammatory effects, receiving positive feedback from patients and healthcare providers alike. Moreover, Verona Pharma is set to embark on further clinical trials and anticipates a cash position of about $400 million.
Highlights of Ohtuvayre’s Market Entry
- Approximately $36 million in net product sales for Q4 2024 and $42 million for all of 2024, indicating a successful market entry.
- Over 16,000 prescriptions filled, supported by more than 3,500 unique healthcare professionals, showcasing strong adoption rates.
- The approval and launch of Ohtuvayre indicate a significant achievement for the company, as it represents the first inhaled treatment combining both bronchodilator and anti-inflammatory properties for COPD.
- Feedback from healthcare providers and patients highlights Ohtuvayre’s potential, with over 35% growth in prescriptions noted during Q4.
Challenges and Risks Ahead
- While $36 million in net sales for the fourth quarter seems promising, sustaining this performance might be challenging due to market competition and the novel nature of the product.
- The preliminary sales figures have not undergone an audit, which raises reliability concerns and may affect investor confidence.
- The possibility that actual financial results could differ from preliminary estimates poses operational risks and uncertainty for investors.
Frequently Asked Questions (FAQ)
What were Ohtuvayre’s fourth quarter sales figures in 2024?
Ohtuvayre recorded net product sales of approximately $36 million in the fourth quarter of 2024.
How many prescriptions were filled for Ohtuvayre in 2024?
In 2024, over 16,000 prescriptions for Ohtuvayre were filled across the COPD patient population.
What are healthcare professionals saying about Ohtuvayre?
Healthcare professionals have given Ohtuvayre positive feedback, noting strong refill rates among patients.
What clinical trials are currently being conducted by Verona Pharma?
Verona Pharma is enrolling participants in a Phase 2 trial that evaluates nebulized ensifentrine for patients with non-cystic fibrosis bronchiectasis.
What is Verona Pharma’s projected cash position by the end of 2024?
By December 31, 2024, Verona Pharma expects its cash and cash equivalents to amount to approximately $400 million.
Disclaimer: This summary is AI-generated based on a press release from GlobeNewswire. For more detailed information, see the full release here.
Complete Press Release
Ohtuvayre’s net product sales for the fourth quarter reached approximately $36 million and $42 million for 2024.
Over 3,500 unique prescribers and more than 16,000 prescriptions filled in 2024.
Approximately 45% of Tier 1 healthcare professionals prescribed Ohtuvayre.
LONDON and RALEIGH, N.C., Jan. 7, 2025 (GLOBE NEWSWIRE) — Verona Pharma plc (Nasdaq: VRNA) announced preliminary unaudited net product sales for the fourth quarter and full year ending December 31, 2024, alongside a corporate update.
“2024 was another pivotal year for Verona with the US launch of Ohtuvayre (ensifentrine) for COPD treatment,” stated David Zaccardelli, Pharm. D., President and CEO. “The launch has been well-received, with over 3,500 healthcare professionals prescribing Ohtuvayre and more than 16,000 filled prescriptions, about one-third of which were patient refills. Over the initial 20 weeks, we observed consistent month-over-month growth in our key metrics, including new and refill prescriptions and sales, while maintaining about two weeks of inventory at specialty pharmacies. Specifically, prescription fill rates increased by over 35% each month in Q4, demonstrating broad adoption across various COPD therapies.”
“We anticipate reporting approximately $36 million in net product sales for Q4 and $42 million for the entire 2024. Though early in the launch phase, feedback from providers and patients has been positive, with robust refill rates and deeper prescriber engagement, demonstrating Ohtuvayre’s potential to reshape COPD treatment.”
Program Updates and Key Milestones
- Ohtuvayre’s specific J-code, J7601, became effective January 1, 2025.
- In November 2024, the company completed enrollment in a Phase 2 dose-ranging trial for a fixed-dose combination program with glycopyrrolate for COPD via nebulizer, which will pave the way for a Phase 2b trial set to commence in the third quarter of 2025.
- The company is also ongoing in enrolling subjects for a Phase 2 trial on nebulized ensifentrine for patients with non-cystic fibrosis bronchiectasis (NCFBE).
Preliminary Fourth Quarter 2024 Financial Results
- Cash Position:
While finalizing full financial results, the company expects to report cash and equivalents around $400 million by December 31, 2024 (up from $271.8 million on December 31, 2023). This increase includes $100 million raised through the sale of ordinary shares under its “at-the-market” offering with Jefferies at an average…
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Verona Pharma Reports Surge in Q4 2024 Product Sales, Eyes Growth in COPD Market
Strong Performance from Ohtuvayre
In the fourth quarter of 2024, Verona Pharma announced an estimated net product sales of around $36 million, a significant increase from $0 million in Q4 2023. These sales come from Ohtuvayre, the company’s first commercial product, which obtained FDA approval on June 26, 2024, and became available in August 2024.
- Financial Preview
Based on current information, Verona Pharma is providing preliminary financial results for the fourth quarter and fiscal year ending December 31, 2024. It’s important to note that these estimates are subject to change as the company finalizes its financial closing procedures. As a result, actual results may differ from these estimates due to ongoing reviews and other developments that could arise before the finalization of the quarterly and annual results.
For additional details, please contact:
About Verona Pharma
Verona Pharma specializes in developing innovative therapies for chronic respiratory diseases, addressing significant medical needs. Their product, OhtuvayreTM (ensifentrine), represents a milestone as the first inhaled therapy that combines bronchodilator and anti-inflammatory properties for COPD maintenance. Ensifentrine also holds promise for other respiratory issues, including non-cystic fibrosis bronchiectasis, cystic fibrosis, and asthma. For further information, visit www.veronapharma.com.
Forward-Looking Statements
This release contains forward-looking statements per the Private Securities Litigation Reform Act of 1995. Statements regarding the benefits of Ohtuvayre, expected financial results, and anticipated commercial growth should be viewed as forward-looking. Such statements incorporate management’s expectations but are subject to risks and uncertainties that may lead to actual results differing significantly. These risks include the completion of financial procedures, reliance on Ohtuvayre’s success, and potential challenges in commercialization and regulatory approval, among others. Readers should consider the detailed risks in the ‘Risk Factors’ section of our recently filed Form 10-Q with the SEC.
This article initially appeared on Quiver News; read the complete story.
The opinions expressed in this article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
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