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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Vernalis | VER | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 6.17 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.17 | 6.17 |
| Top Posts |
|---|
Posted at 09/8/2018 13:52 by catch007 Brings to an end a complete management debacle, 6.2p what a mess.....unfortunate |
Posted at 03/7/2018 15:29 by bountyhunter unfortunately I have to agree with the last two posts as the BoD's record here does speak for itself and I for one wouldn't expect them to even make a great job at selling off the company when they have indeed failed spectacularly at everything else losing millions in investors cash including mine in the process; fortunately I have a diverse pf including very few like ver |
Posted at 25/6/2018 15:30 by greedfear Tomorrow Verona's shareholders will vote about the new shares.Once approved, nothing standing in the way to make an offer in shares for VER. News this week? |
Posted at 17/6/2018 11:14 by greedfear I haven’t got a clue. But obviously Servier and Novartis believe it’s interesting enough to run clinical trials.I’m starting to think VER shareholders in the end would benefit most from VER keeping all assets that entitle them to royalties, milestone payments etcetera and sell anything else. What remains could be run at low costs. Any cash that remains after the reorganisation and is not needed to run the company should be paid out to shareholders. Short term it would be nice if the whole company would be sold. Currently I think it will be sold for 10p minimum. Am expecting anything between 10-20p. Best chances are imo that Verona will do an offer in shares (corresponding with 12-15p per share). Just my two cents. BOL. |
Posted at 16/6/2018 13:06 by greedfear Getting more and more convinced Verona is going to take over VER with an all shares offer.The good phase 2b results makes future milestone and royalty payments more probable. Verona is looking for partners (CEO recently went to China). If they sublicense, VER is entitled to payments because of that too. It's far more efficient for Verona to be freed from all the obligations to VER. Also, if the offer is in shares, Verona's cash position will be increased with 26-27 million GBP. Money that's needed to finance the phase 3 trial(s). Current funds are sufficient to finance only half of the phase 3 trial. If VER or Verona manages to sell the oncology part of the business at least 10 million GBP will be added to the cash position. It's too much of a coincedence just recently (22-5-2018) Verona decided to request their shareholders for permission to issue 52,508,700 new Ordinary Shares (...) Why now? Verona's cash position is 72.6 million GBP (31-3-2018). The costly Phase 3 trial will start in 2019, so it's not like they should be in need of money soon. It could have waited. But they chose not to. Why? I can think of a reason. I feel they're going to use these new shares to take over VER, to get rid of all the paperwork and obstacles and add 35 million+ to the cash position (money that could be well used for the clinical trials). |
Posted at 23/5/2018 07:43 by nobbygnome Thanks timboSo do you think there is any chance Verona could buy VER out? |
Posted at 22/5/2018 17:37 by nobbygnome >>timboIs there any chance Verona could buy VER out of the deal, if the latter need a short term resolution? I have no idea how much money Verona have. Nobby |
Posted at 22/5/2018 11:11 by nobbygnome Thanks for the support Tim. However, I think you are wasting your time as like most bitter trolls I don't think the truth enters his rather sad world. I have him on filter so have no idea what he is saying. Silence is bliss...Anyway back to VER. Wow the prospects here are looking great for further rises. The chart really is dramatic! Nobby |
Posted at 26/3/2018 07:57 by timbo003 Verona reported positive phase IIB results for RPL554 this morning.With Vernalis due very significant milestone and royalty payments if and when RPL554 is approved, it further underpins the estimated sum of the parts valuation of VER which is considerably more than reflected in the current share price(see posts above) |
Posted at 20/3/2018 14:36 by timbo003 I suspect by end of September this year, the share price will be significantly above 3p per share (3p corresponds to a market capitalisation of around £15m). Reasoning as follows: The old management will have departed; the US business will have gone; on a sum of the parts basis for the remaining business a market cap of £15m looks way too cheap. Some more detailed thoughts below:The Vernalis cash pile was £44m at end of Jan 2018 Historic cash burn for year to June 2017 was £21m/year (see annual report below) and £17m for 7 months to Jan 31st (see link above) Direct promotion of the US cough product (Tuzistra) ceased beginning of March and all US staff will go mid May, there are likely to be some significant closure costs (early lease and contract terminations etc), so cash burn between Jan 31st 2018 and September 2018 is difficult to estimate, but perhaps £30m (worst case) which would leave a £14M cash pile. There is a chance (albeit small) that they could end up selling Tuzistra for a cash sum, or licence it out. They may also go for compensation from their development partner (Tris), for failing to fulfil their obligations on the other joint development projects. Once the US business has gone, the remaining UK business will still have some valuable assets (see annual report for more details). One of the more valuable assets is their stake in RPL554 (which is currently being developed by Verona Pharma) where it is possible to make a reasonable guestimate at the value: Assuming RPL554 is launched during 2020 or 2021 in the US, it will be more or less off patent, yet Vernalis will still recieve a £5m up front payment on first approval, 25% of any sub licence revenue and a 3% royalty of Verona’s sales revenue for 10 years post launch (in each market), this is despite the fact that the Vernalis composition of matter patent will expire in 2020 or thereabouts. From the Verona Pharma Aim admission document Vernalis Royalty Payments (from Aim admission document p67 - 68) Even if you assume that Verona only ever launch RPL554 in the USA in nebulised format for Emergency Room use only and at home use after discharge (to minimise chances of re-admission), gross revenues could easily average £200m/year, implying royalties to Vernalis of £60M over a 10 year period. A more likely scenario is that once the nebulised format has become established, Verona would subsequently launch in dpi and mdi formats, which are much larger opportunities, they would also roll out the products to Europe and other developed markets. There will be further value in the other out-licencing assets (see below): The one with most potential value is probably CPI-444 which is out-licenced to Corvus (Clinical stage, Nasdaq quoted Biopharma, market cap circa $300m) for which Vernalis are due to receive development milestone payments and royalties on sales. Corvus are developing CPI-444 with Genentech (Roche) and as the lead drug in their development portfolio, it probably has a realistic chance of progressing further. There is also continuing royalty income for Frovatriptan (circa £2-3m annually) and a small research division which is mainly funded by collaborators on a fee for service basis, which currently benefits from occasional milestone payments and could eventually benefit from product royalties, should any of the current 6 collaborations lead to marketed products. |
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