Verona Pharma Soars as Pre-Sales Figures Exceed Expectations

Investing.com -- Verona Pharma, a pharmaceutical company known for its lung disease drug Ohtuvayre, saw its stock rise by 4.6% in pre-market trading after the fourth quarter pre-sales figures exceeded expectations. Verona Pharma launched Ohtuvayre in the U.S. market in August. It is evident that the drug, designed for the treatment of lung diseases, has contributed to the company's increasing sales. In addition to the successful sales of Ohtuvayre, Verona Pharma expects to report a strong financial position. The company's cash and cash equivalents were reported to be approximately $400 million as of December 31.