Why Is Verona Pharma (VRNA) Stock Up 34% Today?

  • Verona Pharma (VRNA) stock is climbing on clinical trial results.
  • The company’s Phase 3 ENHANCE-1 trial met primary and secondary endpoints.
  • That has the company’s shares seeing heavy trading today.
Packs of blue and pink pills are piled on top of each other representing VRNA stock.

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Verona Pharma (NASDAQ:VRNA) stock is rising higher on Tuesday after the company released results from a Phase 3 clinical trial.

The big news here is the company’s Phase 3 ENHANCE-1 trial meeting its primary endpoint. This study covers the use of nebulized ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease (COPD).

In addition to that, the clinical trial also met secondary endpoints as well. Verona Pharma notes this saw nebulized ensifentrine improve lung function, symptoms and quality of life measures in COPD patients.

What’s Next for VRNA

Antonio Anzueto, MD, Professor of Medicine and Section, Chief of Pulmonary at South Texas Veterans Healthcare System, said the following:

“These exciting results demonstrate ensifentrine’s potential to become a first-in-class bronchodilator and non-steroidal anti-inflammatory therapy for COPD. The 36% reduction in the rate of exacerbations observed over 24 weeks in symptomatic patients is impressive.”

With today’s news comes heavy trading of VRNA stock. As of this writing, more than 9 million shares of the company’s stock have changed hands. That’s a massive jump from its daily average trading volume of 33.9 million shares.

VRNA stock is up 33.9% as of Tuesday morning and is up 157.9% since the start of the year.

Investors seeking out more of the latest stock market news will want to keep reading!

InvestorPlace is home to all of the most recent stock market news traders need to know about on Tuesday! Among that is what has shares of Applied UV (NASDAQ:AUVI), IceCure Medical (NASDAQ:ICCM) and Lucid (NASDAQ:LCID) stock on the move today. You can find out more on these matters at the links below!

More Tuesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/12/why-is-verona-pharma-vrna-stock-up-34-today/.

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