Edison Investment Research

Research results

Vernalis

Termination of coverage

Termination | Pharmaceuticals & healthcare | 21/06/2018

Edison Investment Research is terminating coverage on Vernalis (VER). Please note you should no longer rely on any previous research or estimates for ...

Vernalis

Tuzistra XR downgrade prompts strategic rethink

Flash note | Pharmaceuticals & healthcare | 28/02/2018

Vernalis has provided a trading and operational update to its guidance for Tuzistra XR prescriptions for financial year-end 2018. Despite dynamic mana...

Vernalis

Operational initiatives in place, execution is key

Outlook | Pharmaceuticals & healthcare | 22/11/2017

Tuzistra XR prescriptions (Rx) grew threefold to ~35k in FY16/17 (2nd year on the market) vs ~12k in FY15/16. Investment into addressing the barriers ...

Vernalis

Tuzistra XR steady growth in Rx run rate

Update | Pharmaceuticals & healthcare | 19/07/2017

Vernalis has provided a year-end trading and operational update ahead of its FY17 results due to be announced on 12 September. Total revenues are expe...

Vernalis

FDA issues CCP-07 complete response letter

Update | Pharmaceuticals & healthcare | 24/04/2017

FDA has issued a complete response letter (CRL) to Vernalis’ CCP-07 NDA following its 20 April PDUFA date, outlining questions that need to be a...

Vernalis

Positive Tuzistra trends

Update | Pharmaceuticals & healthcare | 15/03/2017

Investment into addressing barriers to higher Tuzistra XR prescribing is starting to translate into higher prescription (Rx) rates. Mid-way through th...

Vernalis

Advancing towards a commercial portfolio

Update | Pharmaceuticals & healthcare | 05/01/2017

FDA acceptance of the CCP-08 NDA (setting a 4 August 2017 PDUFA date) advances Vernalis towards its goal of building a speciality US franchise of exte...

Vernalis

Investing in the commercial platform

Outlook | Pharmaceuticals & healthcare | 21/10/2016

Vernalis marked its transition into a commercial-stage speciality pharma company with the September 2015 US launch of Tuzistra XR, the first product f...

Vernalis

Cash cushion for cough cold growth

Update | Pharmaceuticals & healthcare | 25/05/2016

The issue of 80m new shares at 50p/share has raised £40m (gross), which enables Vernalis to focus on executing its operational plan and removes u...

Vernalis

Securing cash to sustainability

Flash note | Pharmaceuticals & healthcare | 28/04/2016

Vernalis intends to raise £40m (gross) through the issue of 80m new shares at 50p per share. This equity raise will remove any uncertainty over w...

Vernalis

Establishing a firm foundation

Update | Pharmaceuticals & healthcare | 06/04/2016

Vernalis reported a modest £0.6m in Tuzistra XR sales over the first four months post-launch due to the mild cough cold season. The US launch of ...

Vernalis

A player in the US prescription cough cold market

Outlook | Pharmaceuticals & healthcare | 12/11/2015

Vernalis is poised to complete the transition towards becoming a self-sustaining speciality pharma company, based on its five extended release cough c...

Vernalis

Tuzistra XR; US commercial potential unveiled

Update | Pharmaceuticals & healthcare | 17/06/2015

Vernalis is preparing for commercial launch of Tuzistra XR, its extended-release, codeine-based cough cold treatment following FDA approval in April. ...

Vernalis

Preparing for first approval

Update | Pharmaceuticals & healthcare | 05/03/2015

Vernalis represents a reduced risk late-stage pharmaceutical play, with the near-term prospect of approval in April of Tuzistra XR, an extended releas...

Vernalis

Aligning timings

Update | Pharmaceuticals & healthcare | 08/12/2014

Vernalis’s preparations for the potential Q315 launch of Tuzistra XR, its first extended release (ER) cough cold product for the US prescription...

Vernalis

Daily comment

Institutional Comment | Pharmaceuticals & healthcare | 15/09/2014

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Vernalis

Daily comment

Institutional Comment | Pharmaceuticals & healthcare | 08/09/2014

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Vernalis

Cough cold portfolio gathers momentum

Outlook | Pharmaceuticals & healthcare | 08/09/2014

The Tuzistra XR FDA filing is an important step towards Vernalis’s goal of profitable sustainability. Potential approval (assuming NDA acceptanc...

Vernalis

Getting closer to first filing

Update | Pharmaceuticals & healthcare | 14/04/2014

Vernalis is well positioned to continue advancing all three elements of its business (commercial, development, research) during 2014. The first US pre...

Vernalis

Value proposition gathering momentum

Update | Pharmaceuticals & healthcare | 24/09/2013

Vernalis’s goal of achieving sustained profitability depends on the successful development of up to six prescription-only cough cold formulation...

Vernalis

V81444 starts proof-of-concept study

Update | Pharmaceuticals & healthcare | 16/07/2013

Vernalis has started a Phase Ib/II study for V81444, an A2A antagonist, in an unspecified CNS indication. V81444 is one of the two main unpartnered pr...

Vernalis

Progressing nicely

Outlook | Pharmaceuticals & healthcare | 01/05/2013

Vernalis continues to progress along the path to sustained self-funding. The development of up to five prescription-only cough cold formulations is on...

Vernalis

First cough/cold milestone

Update | Pharmaceuticals & healthcare | 06/03/2013

Vernalis has paid out its first milestone to Tris Pharma, which marks the successful “proof of concept” for the first collaboration progra...

Vernalis

Cough/cold portfolio on track

Outlook | Pharmaceuticals & healthcare | 10/08/2012

Vernalis’s alliance with Tris Pharma to develop up to six extended release cough/cold products for the US prescription market may prove to be th...

Vernalis

Positioned for 2012

Update | Pharmaceuticals & healthcare | 19/04/2012

Vernalis’ three-tier business strategy (commercial, development, research) has been subtly refined following the closure of its recent £65....

Vernalis

Worth the wait

Update | Pharmaceuticals & healthcare | 24/02/2012

Vernalis’s proposed £65.9m equity raise (net of costs) and multi-product in-licensing deal with private US company Tris Pharma are the late...

Vernalis

Good AML data at ASH

Update | Pharmaceuticals & healthcare | 21/12/2011

Promising Phase II OPAL data for oral tosedostat once-daily in elderly relapsed or refractory acute myeloid leukaemia (AML) were presented at ASH 2011...

Vernalis

New Frova API guidance

Update | Pharmaceuticals & healthcare | 18/11/2011

Vernalis’s IMS provided new guidance on sales and delivery schedules of its sole marketed product, frovatriptan. Consequently we revise our FY11...

Vernalis

Reaping research rewards

Update | Pharmaceuticals & healthcare | 07/10/2011

Servier and Lundbeck have paid Vernalis c £0.73m in milestones following progress under their fragment and structure-based drug discovery collabo...

Vernalis

The search continues

Outlook | Pharmaceuticals & healthcare | 15/08/2011

Vernalis continues to focus on delivering on its three-step strategy: 1) progressing its existing pipeline, 2) expansion via in-licensing/M&A, and 3) ...

Vernalis

Seeking ideal deals

Review | Pharmaceuticals & healthcare | 18/04/2011

Vernalis’s FY10 results provided evidence of its financial transformation, into a debt-free company with contained costs and a recurring revenu...

Vernalis

So FAAH, so good...

Update | Pharmaceuticals & healthcare | 21/03/2011

Vernalis’s strategic focus is on in-licensing and M&A to expand its pipeline and on securing new research collaborations over the next 12 month...

Vernalis

The LRRK2 ascending

Update | Pharmaceuticals & healthcare | 16/12/2010

Vernalis and Lundbeck have entered into a discovery collaboration that will use Vernalis’s fragment and structure-based drug discovery platform...

Vernalis

Awaiting acquisitions

Update | Pharmaceuticals & healthcare | 22/11/2010

With £33.6m in cash at end-October, Vernalis remains well-positioned to progress and expand its R&D pipeline through licensing and acquisition. How...

Vernalis

Scouting for deals

Outlook | Pharmaceuticals & healthcare | 05/08/2010

With £33.8m in cash, Vernalis is in a good position to progress and expand its R&D pipeline. The clinical failure of indantadol and the discontinua...

Vernalis

A three-step strategy

Review | Pharmaceuticals & healthcare | 14/04/2010

With FY09 cash already disclosed, the focus for Vernalis’s results was the pipeline and strategic update. The recent £30m placing/reacquisit...

Vernalis

IN-STEP misses endpoint

Update | Pharmaceuticals & healthcare | 25/03/2010

Top-line results of the IN-STEP Phase IIb trial of indantadol in diabetic neuropathic pain (DNP) missed the primary endpoint, largely due to the high ...

Vernalis

Fundraising and deal

Update | Pharmaceuticals & healthcare | 15/02/2010

Vernalis announced the placing of £30m in new shares to fund the reacquisition of EU frovatriptan royalties from Paul Capital, and to progress it...

Vernalis

R&D update

Review | Pharmaceuticals & healthcare | 14/12/2009

Vernalis’s partner Novartis has confirmed plans to progress the HSP90 inhibitor AUY922 into a proof of concept Phase II study in 2010, an event w...

Vernalis

GlaxoSmithKline deal

Update | Pharmaceuticals & healthcare | 07/08/2009

Vernalis has signed a licensing agreement with GlaxoSmithKline (GSK) relating to an undisclosed internally generated research target that will initial...

Vernalis

A new Vernalis emerges

Outlook | Pharmaceuticals & healthcare | 30/06/2009

A simplified and slimmed-down business led by a new senior management team, with near-term news flow expected on clinical trials and/or partnering act...