Why Verona Pharma Stock Is Skyrocketing Today

Shares of Verona Pharma (NASDAQ: VRNA) are skyrocketing today, up by 58.7% as of 11:29 a.m. ET. The huge gain came after the company announced results from a late-stage study evaluating nebulized ensifentrine as a maintenance treatment for chronic obstructive pulmonary disease (COPD).

Verona reported that ensifentrine met the primary endpoint of the study with a 94 mL change in average forced expiratory volume in 1 second, a measure of how much air a person can exhale. The experimental drug also met all secondary endpoints of the study. Verona stated that patients receiving ensifentrine had a 42% reduction in the rate of moderate-to-severe COPD exacerbations over a 24-week period as well.

In addition to its clinical update, Verona also announced its second-quarter results Tuesday morning. However, the positive results for ensifentrine were definitely the bigger catalyst for the small biotech stock.

Source Fool.com