Verona Pharma PLC Exercise of options (6784N)
October 28 2016 - 1:00AM
UK Regulatory
TIDMVRP
RNS Number : 6784N
Verona Pharma PLC
28 October 2016
Verona Pharma plc
("Verona Pharma" or the "Company")
Exercise of Options
The Company announces that it has issued 166,667 new ordinary
shares in the capital of the Company (the "New Shares") following
an exercise of share options by an employee. Application has been
made to the London Stock Exchange for the New Shares to be admitted
to trading on AIM, with dealings expected to commence on 3 November
2016 ("Admission").
Following Admission, the Company will have a total of
2,566,053,160 Ordinary Shares in issue each carrying one voting
right. The Company does not hold any Ordinary Shares in Treasury.
This figure of 2,566,053,160 Ordinary Shares may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure and Transparency Rules.
For further information please contact:
Verona Pharma plc Tel: +44 (0)20 3283 4200
Jan-Anders Karlsson, Chief Executive Officer
N+1 Singer (Nominated Adviser and Broker) Tel: +44 (0)20 7496 3000
Aubrey Powell / Jen Boorer
FTI Consulting Tel: +44 (0)20 3727 1000
Simon Conway/Stephanie Cuthbert/Natalie Garland-Collins
About Verona Pharma plc
Verona Pharma plc is a clinical-stage biopharmaceutical company
focused on developing and commercializing innovative therapeutics
for the treatment of respiratory diseases with significant unmet
medical needs, such as chronic obstructive pulmonary disease
(COPD), cystic fibrosis (CF) and asthma.
Verona Pharma's drug candidate, RPL554, is a first-in-class,
inhaled, dual inhibitor of the enzymes phosphodiesterase 3 and 4,
or PDE3 and PDE4, that acts as both a bronchodilator and an
anti-inflammatory agent in a single molecule. The Company has
successfully completed eight Phase 1 and 2a clinical trials with
RPL554 to date, with 299 subjects enrolled. RPL554 has been
observed to provide clinically meaningful and statistically
significant improvements in lung function as both a single agent
and as an add-on therapy with currently marketed bronchodilator
drugs. In addition, RPL554 has been observed to shorten the time of
onset of bronchodilation when administered as an add-on therapy
with currently marketed bronchodilators, and has also shown
anti-inflammatory effects. RPL554 has been well tolerated in each
of its clinical trials. Verona Pharma also intends to pursue
development of RPL554 to address multiple other respiratory
diseases, including asthma.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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