25 May 2012

Dutch treat for Verona

Drug developer has been given permission to take its asthma and fever treatment to its next trial phase.

20/05/2009 Robert Tyerman

Verona Pharma can take its asthma and fever treatment to its next trial phase after approval by the Netherlands Ethics Committee.

A clinical update from the AIM-quoted company says its RPL554 treatment can now go to the final stage of its Phase I/IIa clinical trial. Analysts suggest London-based Verona should be well placed to have RPL554 licensed if it successfully completes this trial.

Share in Verona, floated four years ago at 2p, reached 6.25p in 2007 before crumbling to 2.13p by last August. Tipped by Growth Company Investor at 4.12p, they have since rallied 40 per cent to 5.75p, valuing the company at £12.4 million.

Tags: Penny shares

Sector: Pharmaceuticals & Biotechnology

Companies: Verona Pharma

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