The data from the third and final part of Verona’s Phase I/IIa trial of RPL554 is unequivocally positive. Following previously reported data in healthy volunteers, today’s data in COPD patients demonstrates both reproducibility of the excellent safety & tolerability profile of the new formulation and strong indications of efficacy, with a clinically meaningful improvement in lung function (as measured by FEV1). We upgrade our intrinsic value from 7p to 9p/share and see further upside potential.
