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Verona Pharma

  • BY: Andrew Hore |
  • POSTED: 23/06/2014 |

Shares in respiratory treatments developer Verona Pharma fell by nearly one-third because of disappointing results for VRP700.

At 1.4p a share, Verona is valued at £14m. Earlier this year, Verona raised £14m via a placing and open offer at 2.2p a share.

A single dose of VRP700 to treat chronic severe cough in patients with
idiopathic pulmonary fibrosis (IPF)did not work better than a placebo. Verona will not fund any more development of VRP700 but there are signs that it may work for other diseases or in different dosages. Verona will seek ways of gaining some value from the investment it has made in the treatment.

RPL554 remains the company’s focus. The inhaled drug has bronchodilator and anti-inflammatory properties. The next clinical data should be available in early 2015.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2014_57.pdf

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