Verona Pharma Plc (VRNA)

Meeting tomorrow on this give away. In five years, the sales of Ohtuvayre will be equal to what Verona was sold for. I am thinking of buying Merck stock with proceeds as Ohtuvayre will be 10% of its sales in 3-4 years as it expands to the developed countries, including China.

Sad ending. Good-by, Verona!!

Another example of Ohtuvayre's efficacy andstrength ... and we are giving it away for $107/share! Disgusting!!!

Verona Pharma To Present Phase 3 ENHANCE COPD Analyses At ERS 2025, Highlighting Ohtuvayre (Ensifentrine) Benefits On Lung Function, Exacerbations, Symptoms And Quality Of Life

https://www.veronapharma.com/news/verona-pharma-to-present-additional-analyses-of-the-phase-3-enhance-studies-in-copd-at-ers-international-congress-2025/

Voted "NO!" on sale to Merck ... of course!

Here is the 10Q for second quarter (No PR announcing such!). Highlights EPS of 14 cents, sales were $103 million or 44.5% higher than Q1. This begs the question: Why sell out NOW?

https://veronapharma.gcs-web.com/static-files/fb6e193e-a345-483f-9fd4-c64493778389

Sun Alan check your messages.
Verona looking good.
John k9uwa

Thanks. Will follow up.

SunAlan - saw your PM. I cannot reply via PM here but PW and K9uwa have my email and could share it with you via PM if you send them a note?

Investigation and lawsuits seem frivolous to me: we shareholders will have our say and if we approve then there is no basis for a lawsuit. If we don't approve then there is no basis for a lawsuit.

Appears some other people/institutions, like us, are not happy with the Merck deal.

SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Verona Pharma plc (Nasdaq – VRNA)

https://www.brodskysmith.com/cases/verona-pharma-plc-nasdaq-vrna/

I'm with you

While I am a "No" under $200, institutions are looking at a 60%-200% profit at a take-out price of $107. If the Merck deal is scuttled, VRNA SP$ drops into the 60-70's, at least, as that group loses confidence in management and decides to sell. So, it will vote overwhelmingly "Yes".

P.S. Another bidder with a higher SP$ is what it is hoping for, like me and several others here.

I'm a definite no. I hope the institutions are a no also but have to believe that they have given their unofficial approval. Hard to believe that Merck would try it without their tacit approval. Thoughts anyone?

Open question - Why is management selling now ... and at a seemingly low price, IMO?

Thank you in advance for any replies.

That would be really interesting, John.

I also will vote NO. I really think that most of the institutions will also vote NO.
John k9uwa

Thank you, Hoskuld!

AVXL is my largest position, save VRNA. Still, for those who are unfamiliar with it, it is a very different investment that VRNA. Verona had an approval and a clearly-articulated plan and a first class executive team with a long record of success. It also did exactly what they said they would do, when they said they would do it. Anavex doesn't really have any of those characteristics and has a long record of failing to execute. I like it because they have a couple of potentially massively significant molecules that appear to safely and effectively treat a range of very large neurological indications that are either untreated or under-treated currently. I am betting on the company getting it right...at some point and then a competent company taking over. It has been run as a life-style business instead of a business on a mission - but the science has been excellent and the trial results confirm the high quality of their approach.

I am going to vote against the deal. If it follows the pattern of most of my no votes, it won't matter.

Yes Company follows all the rules.
Recent VRNA News shown below all Dated July 9 2025. SEC forms 4 and 8K & DEFA14A

Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/09/2025 10:39:36 PM
Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 07/09/2025 08:15:19 PM
Merck to Acquire Verona Pharma in $10 Billion Deal to Expand Respiratory Drug Portfolio • IH Market News • 07/09/2025 01:06:42 PM
Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 07/09/2025 11:47:48 AM
Form 8-K - Current report • Edgar (US Regulatory) • 07/09/2025 11:44:55 AM

For those VRNA holder who are not invested in Anavex Life Sciences (AVXL), take a look at it. With the VRNA windfall, another one might be in the Anavex cards for you. Best of luck.

P.S. Still hoping for a second bidder.

John, will we receive these materials electronically, as we do prior to AGMs? Thanks!

The Companies explanation and what happens next.
https://ih.advfn.com/stock-market/NASDAQ/verona-pharma-VRNA/stock-news/96402313/form-defa14a-additional-definitive-proxy-solicit

What happens between now and Closing? Business as Usual until closing. One important Item is APPROVAL BY SHAREHOLDERS. Plus following the laws and court rulings etc.
John k9uwa

Flabbergasted. I think management owes us an explanation given the disconnect between analysts and buyout price. 

Test

brown, agree with you on “does not compute,” given the future growth disclosed by management.

Also, agree with you on the Big Thank You to Hoskuld for his due diligence on Verona last summer. He is an 😇 to my wife and me. Thank you, Hoskuld.

YES BIG Thanks to Hoskuld Some interesting numbers.
10.40% % of Shares Held by All Insiders
90.98% % of Shares Held by Institutions
101.54% % of Float Held by Institutions
321 Number of Institutions Holding Shares
I think those were at the end of Q1.
John k9uwa

Wolfe Research Initiates Coverage On Verona Pharma with Outperform Rating, Announces Price Target of $170

But Verona Leadership feels $107 is a fair BO offer? Above my pay grade, but this doesn't compute.

Either way, big thanks to Hoskuld for his VRNA recommendation several months ago on the AVXL board.

Thanks PW and yes I still have my shares. I see 4.57M shares already traded this morning.
John k9uwa

There is nothing to stop another company in the field to make a bid at a higher price. To claim that there will be another bid is only speculation ... $107 is too low, given the potential ... will be compared to Medarex's purchase by BMS years ago.

Looks like a done deal PW. Unless the institutions vote together to say NO.

John k9uwa

From my reading of the Article it is a DONE DEAL USA we get $107 per share. Already approved by VRNA and MERCK boards. The only kink is the STOCKHOLDERS read this INSTITUTIONS... have a say in this deal.
10.40% % of Shares Held by All Insider
90.98% % of Shares Held by Institutions
101.54% % of Float Held by Institutions
321 Number of Institutions Holding Shares

1.8 million shares have already sold pre-market today. Current price
Last price x size / Exch

$104.86 up18.0000up (20.72%)
Bid x size $104.86 x 100
Ask x size $104.88 x 1900
Volume 1.80M

John k9uwa

We can only hope. The question is "Why Now?" With a sales force in place ... Dumbfounded ... and at such a low price ... $10B will be its revenue in 2027 or 2028 ... where is Vertex ... Lilly ... Pfizer?

And the bidding starts at 10b from Merck.

So much for those $105 options and higher! Bad deal, IMO! Possibly another suitor?

Well, that prediction is not going to happen. Sorry, PW!

PW, I don't know why the stock dips (or rises very fast) in the absence of new material developments. So far the story is playing out as expected (at least by me) and i think at least $120 by year end. Things could change but if momentum continues then that seems reasonable.

So, Hoskuld, are the SP dips caused by MM's going after any stop sales orders placed by retail?

Thank you in advance.

Only ~10% of the float is not already owned by institutions so there is a very small tree left to shake.

Wyckoff accumulation...

Do you learn any information in PR this week re: Q2 scrips, new patients, etc.?

Would be great if we do ... or does Verona wait until it is ready to announce Q2 results? I like the former!

Wolfe Research Initiates Coverage On Verona Pharma with Outperform Rating, Announces Price Target of $170
Benzinga - 8:08 AM ET 7/1/2025
Investment News


Wolfe Research analyst Andy Chen initiates coverage on Verona Pharma ( VRNA ) with a Outperform rating and announces Price Target of $170.

Similar takedown on April 1st as is happening today:

Apr 2, 2025 57.00 61.01 55.37 60.29 60.29 1,691,400
Apr 1, 2025 63.50 63.75 58.40 58.54 58.54 2,240,000
Mar 31, 2025 61.50 63.57 59.40 63.49 63.49 1,191,000

Will tomorrow be an up day?

Piper Sandler Maintains Overweight on Verona Pharma, Raises Price Target to $160

New Highs 🚀

There were 25K Rx filled in Q1 with 60% refilling. I am assuming that a good portion of the remaining 40% will refill in Q2. I thought the biggest deal that was revealed in the Q1 call was the 50% increase in prescribing physicians. I hope we see that increase pay off in Q2 accelerating script ramp.

Homebrew - I can't reply to PMs. No, I did not. I used to home-brew quite a lot - I built an automated 1 barrel electric brewery in my basement and had a blast with it. I don't want to drink much beer now so I stopped - but it was great learning about yeast biology and the whole brewing process!

I think we are seeing executive orders that essentially put the executive branch in the position to lever money from various players directly into the executive pocket. And the executive is seemingly disinterested in doing what is common sense for the people. Why would the executive appoint a vaccine skeptic to lead HHS? Makes no sense - it was probably political expediency not maliciousness that led to it, but the Senate did not do its job and deny the candidate. It is the sole job of congress to determine tariffs, and perhaps the courts will confirm this, but executive fiat has been used so far to put pressure on foreign governments to "do business" with the execute instead of the USA - so money is flowing into the executive's personal purse as a result. This kind of lawlessness undermines faith in our country as a place to do lawful business. And undermining the pharmaceutical industry - one of the last industries where the USA is #1 - and undermining higher education here, another place the USA is still #1, is killing the golden geese. The sale of US Steel to the japanese is full proof that the USA is for sale for the right price to foreign interests.

I can't blame the executive alone - congress is not doing its job and hasn't for 25 years: balance the budget, increase taxes and decrease spending but do it, and hold the executive accountable. Most Americans value the same things but you would never know it if you listen to politicians.

Thanks for your feedback. Really appreciate your views. I also follow NVAX because of their Covid vaccine . Poster on Investor Villiage named Redplate also has your background and posts a lot about negative impact of current administration. Might be interested in comments from a a kindred spirit. Alan

Hi SunAlan - thanks for your PM. I don't comment on VRNA much because there isn't much to say: we just keep watching the company execute and seeing patients benefit and the market increasingly recognizes the potential. Regarding AVXL, I don't post there because at least one of the moderators is an extreme right winger who deletes reasonable insights if they note the political risks to the pharmaceutical industry and Anavex by the current administration. I am not anti-Republican and my posts contained academic links to financial impact of undermining the pharmaceutical industry (each dollar spent on pharma has another $2 knock on impact on other businesses.) Given the fragility of the egos on the AVXL board, I don't see any point spending time being constructive there.

🚀 time!

MP61, the announcement on European partner is probably in sync with the Q2 results.

Thank you for your post ... VRNA's future looks bright as is their patients.