A Year of Significant Progress
WINNERSH, UNITED KINGDOM--(Marketwired - Feb 10, 2015) - Vernalis plc (
Following on from the change to the Group's year end date from 31 December to 30 June, the Group's audited results for the 18 month period to 30 June 2015 will be announced by the end of September 2015.
Financial Highlights for six months ended 31 December 2014
Financial Highlights for twelve months ended 31 December 2014
Operational Highlights for the 12 months to 31 December 2014
Cough Cold Commercial Pipeline:
NCE Development Pipeline:
Frovatriptan (marketed) (Migraine):
V81444 (CNS diseases):
Tosedostat - CHR2797 (Cancer):
Servier 1 (Cancer):
Ian Garland, Chief Executive Officer, commented, "Vernalis continues to make progress across all aspects of its business during 2014. Our lead cough cold candidate Tuzistra™ XR has a PDUFA date of 30 April 2015. Proofs-of-concept were achieved for two other cough cold products in 2014 and we aim to achieve proof-of-concept for the remaining two cough cold products in 2015.
We announced promising results from a Phase Ib/II study in ADHD, and the BCL-2 collaborative programme entered Phase I.
Research continues to perform well and remains self-funded with five active collaborations during the period. Our financial results remain strong, whilst we continue to prepare for the potential launch of our first cough cold product into the US market this summer. And our balance sheet is strong, with considerable cash reserves and no debt."
Presentation & Conference Call
Vernalis management will host a presentation at 09.00 am (UK) today (10 February 2015) at Brunswick's offices, 16 Lincoln's Inn Fields, London WC2A 3ED. It will also be available via webcast at http://www.vernalis.com/investor-centre/presentations-and-webcasts and www.cantos.com. Please contact Valerie Mugridge at Brunswick on +44 (0) 207 396 5325 for details.
Notes to Editors
Vernalis is a revenue generating development stage pharmaceutical company with significant expertise in drug development. The Group has one marketed product, frovatriptan for the acute treatment of migraine, an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough cold market as well as seven programmes in its NCE development pipeline. Vernalis has also significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company's technologies, capabilities and products have been endorsed over the last five years by collaborations with leading pharmaceutical companies, including AKP, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier and Tris.
For further information about Vernalis, please visit www.vernalis.com
Vernalis Forward-Looking Statement
This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its products, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of frovatriptan and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.
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Chief Executive Officer
Chief Financial Officer
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Dr Julian Feneley
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