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Kathleen A. Rickard, the Chief Medical (TASE:BLWV) Officer of Verona Pharma plc (NASDAQ:VRNA), a pharmaceutical company whose stock has surged over 320% in the past year and currently trades near its 52-week high of $70.40, recently sold a significant portion of her holdings in the company. The company, now valued at $5.74 billion, has maintained impressive gross profit margins of 93.89%. According to a filing with the Securities and Exchange Commission, Rickard sold 79,264 ordinary shares on March 12, 2025, at an average price of $8.3511 per share. This transaction, executed under a prearranged Rule 10b5-1 plan, resulted in total proceeds of approximately $661,941.
Following the sale, Rickard retains ownership of 2,608,976 ordinary shares, which includes shares underlying restricted share units and American Depositary Shares (ADSs). Each ADS represents eight ordinary shares of Verona Pharma. The sale was conducted as part of a strategic financial plan, with the shares sold at prices ranging from $7.9975 to $8.5513 per ordinary share.
In other recent news, Verona Pharma reported fourth-quarter earnings that exceeded analyst expectations, largely due to strong sales of its new COPD treatment, Ohtuvayre. The company posted adjusted earnings per share of -$0.05, surpassing the consensus estimate of -$0.07, and generated revenue of $35.65 million, significantly higher than the anticipated $6.14 million. Ohtuvayre, which was approved in June 2024, achieved net product sales of $36.6 million in the fourth quarter, contributing to full-year net sales of $42.3 million.
Additionally, Truist Securities raised its price target for Verona Pharma to $76, citing the growth in the company’s prescriber base and positive feedback from pulmonologists regarding Ohtuvayre and ensifentrine. H.C. Wainwright also increased its price target to $75, based on a discounted cash flow valuation and a high probability of ensifentrine’s approval in the European market. Both firms maintained a Buy rating on Verona Pharma’s stock.
Verona Pharma’s cash reserves were reported at $399.8 million as of the end of 2024, reflecting a strong financial position. Looking forward, the company plans to initiate a Phase 2b trial for a combination of ensifentrine and glycopyrrolate later in 2025. Regulatory activities are also underway for potential marketing authorization submissions in the European Union and the UK.
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