Share Name Share Symbol Market Type Share ISIN Share Description
Vernalis LSE:VER London Ordinary Share GB00B3Y5L754 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.055p +1.51% 3.705p 738,240 16:35:21
Bid Price Offer Price High Price Low Price Open Price
3.60p 3.81p 3.99p 3.60p 3.99p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 12.0 -15.3 -3.2 - 19.50

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Date Time Title Posts
29/3/201810:19VERNALIS - time to buy?1,803
24/10/201019:57VERNALIS - 500p by December 2010?465
15/9/200917:32Vernalis (VER): Charts and discussion thread38
15/9/200917:31VERNALIS *** UNDERVALUED***1
15/9/200916:38Vernalis - short this junk to 40p?23

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Vernalis Daily Update: Vernalis is listed in the Pharmaceuticals & Biotechnology sector of the London Stock Exchange with ticker VER. The last closing price for Vernalis was 3.65p.
Vernalis has a 4 week average price of 3p and a 12 week average price of 2.80p.
The 1 year high share price is 22p while the 1 year low share price is currently 2.80p.
There are currently 526,437,178 shares in issue and the average daily traded volume is 9,532,905 shares. The market capitalisation of Vernalis is £19,504,497.44.
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)
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 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, most notably 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.
yasx: Chuckle chuckle. ------------------------- romeike23 Feb '17 - 12:13 - 1562 of 1777 I doubt there is more to fall, I expect the share price to gradually recover to same level as before the results, about 32p. The results raised more questions that answers as is so common on AIM but the company is in a decent financial position and has everything to play for still.
lcwanderer: The share price has gone from 86p to 8.6p in just over two years under the stewardship of Ian Garland. In any other line of work such an incompetent managerial record would result in the sack.
romeike: I recently reduced my holding here by over 60% as the opportunity arose to swap out the funds into Shire, with its share price severely down for no good reason it makes a lot of sense to do so - far more certainty of a recovery and profits at Shire than here. And CEO Flemming O is leagues ahead of this no hoper Ian Garland at Vernalis. Looks very much like Vernalis strategy is hostage to its partner Tris, with no control over what looks like an increasingly chaotic situation. Can only hope Vernalis is applying pressure but months on and still no word of progress. Strategy making less and less sense with ongoing cash burn at $20m but revenues just a few million, how can this ever make sense without more products hitting the market in a reasonable time.
bones698: fund raising coming judging by the lack of news and share price fall just like agl and nano . Expect it to level off jut above the issue price imo . So far looks like it could be at 8p or possibly 5p . Usual share price reaction when the company goes to the city asking for money no other real explanation I can see
romeike: Share price propped up by bottom feeders. Not going to make any significant moves until a new strategy is made clear and we get some positive news. But yes, at least this isn't PFG of subprime vehicle finance fame - chances of recovery looking slim there. More likely it will end in administration.
bountyhunter: Agreed, and this is a weird headline given that the share price has dropped 10% on today's disappointing news...
bountyhunter: interims announced... Ian Garland, Chief Executive Officer, commented, "We are encouraged with the progress we have made in the last six months as we continued to expand our sales and saw further progress in our cough cold development pipeline. "Midway through the 2016/17 cough cold season we have seen Tuzistra(R) XR prescriptions continue to grow steadily. We believe the emergence of high performing sales representatives in all regions across the US validates the market potential for Tuzistra(R) XR. We are, however, still in the early stages of the launch and our focus for the second half of the season is to drive sales-force effectiveness and so further increase the proportion of high performing sales territories. With continued prescription growth expected, the annualised run-rate at the end of June 2017 should provide a more meaningful predictor of sales performance for future years. "We expect to achieve a number of milestones from the remainder of the cough cold franchise in 2017, including potential approvals by FDA of CCP-07 and CCP-08. We also continue to seek other opportunities to leverage our US commercial infrastructure and remain very excited about the growth potential of the business." Presentation & Conference Call Vernalis management will host a presentation at 9.30am (UK) today at the offices of FTI Consulting 200 Aldersgate, Aldersgate Street, London, EC1A 4HD. It will also be available via webcast at hxxp:// and and via conference call, which can be joined by dialling: +44 (0) 20 3003 2666, Passcode 5780976# Please contact Jack Bower at FTI consulting +44 (0) 20 3727 1000 for details. Http://
woodcutter: I've been researching a number of pharma co's where the share price has fallen considerably recently and once again I'm finding a similar pattern on director emoluments. For a business that turned over roughly £12m last year to see the directors taking out £1.7m in remuneration seems unacceptable to me. Noses in the trough comes to mind. Garland was paid £865K of which £363K was bonus related. All the bonus payments were attributed to company product milestones nothing was realted to anything financial neither was it related to share price performance. There's a total of 8 directors including the non execs for a business with £12m revenue. Woodford and Invesco need to pressure the board to show restraint. I've no doubt there's potential here but it needs to be realised before these kind of awards are given. One question that does seem obvious is what differentiates VER cold medication from the wider range of products already on the market? (I know they do more than cold remedies but these seem to be at the forefront of immediate revenue generation) It's now on my watch list but need to see greater revenue and stricter cost control otherwise there'll end up being a further placing. I await the results with anticipation. woody
Vernalis share price data is direct from the London Stock Exchange
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