Verona Pharma is at an exciting stage of its development having announced unequivocally positive results from all of its clinical trials with a new proprietary suspension formulation of RPL554. Data from a Phase IIa combination trial is due in Q2 and we take the opportunity ahead of this to reiterate the significant upside potential of RPL554. As an illustration, our intrinsic value per share could increase from 9p to 35p if we assume RPL554 successfully enters the market (estimate 2021). We remain upbeat about Verona’s future prospects and look forward to the imminent data.
