Verona Pharma plc (NASDAQ:VRNA) Q1 2019 Earnings Conference Call Transcript

May 07, 2019 • 08:00 am ET


Verona Pharma plc (NASDAQ:VRNA) Q1 2019 Earnings Conference Call Transcript


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Greetings. Welcome to Verona First Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) Please note, this conference is being recorded.

I will now turn the conference over to Stephanie Carrington, Investor Relations. Thank you, you may begin.

Stephanie Carrington

Thank you, operator. Good morning or afternoon depending on where you are; and welcome to today's call to review Verona Pharma's results for the three months ended March 31, 2019.

On this call, I am joined today by Jan-Anders Karlsson, Chief Executive Officer and Piers Morgan, Chief Financial Officer. I trust that you have seen the press release that was issued this morning before market opened. It includes the results for the three months ended March 31, 2019, as well as the operational updates. If you have not, the press release is also available on the Investor Relations portion of Verona Pharma's website.

On today's call, Jan-Anders will first provide a clinical development and business update for the first quarter of 2019. Piers will then review the Company's financial results for the first quarter ended March 31, 2019. We will then open the call to your questions and expect this call to last approximately 60 minutes. As a reminder, the conference call is being recorded and will be available on Verona Pharma's Investor Relations website shortly following the conclusion of today's call.

During the call today, the team will be making forward-looking statements, and we remind you of the Company's Safe Harbor language. All statements that do not relate to matters of historical facts should be considered forward-looking statements, including but not limited to, statements regarding ensifentrine as a potent bronchodilator and anti-inflammatory agent; the Company's ability to provide a promising therapeutic effect through the delivery of ensifentrine; the timing of top line data from its ongoing clinical trials; the timing of that the end of Phase II meeting with the FDA and planned Phase III trial; changes in its clinical development plans based on additional data; and the potential for certain formulations of ensifentrine to address larger markets and the Company's plan to explore these formulations in cystic fibrosis and asthma.

These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees that involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from the Company's expectations implied by the forward-looking statements.

Any such forward-looking statements represent management's estimates as of the date of this conference call. While the Company may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events caused its views to change.

With that, I will now turn the line over to Jan-Anders. Go ahead.

Jan-Anders Karlsson

Thank you, Stephanie. It's a pleasure to have the opportunity to provide you with a clinical development and business update today. Ensifentrine or RPL554 is a unique,