WINNERSH, UNITED KINGDOM--(Marketwired - Sep 12, 2017) - Vernalis PLC (
12 September 2017
Results Announcement for the year ended 30 June 2017
Tuzistra® XR prescriptions growing steadily
In-house salesforce to promote both Tuzistra® XR and Moxatag® for the coming season
Independent market research continues to show significant market opportunity for cough cold franchise
Vernalis plc (
US Commercial performance:
Financial Highlights for the year ended 30 June 2017
US Commercial Pipeline:
Other Operational Highlights:
Ian Garland, Chief Executive Officer, commented,
"We remain very encouraged with the progress we have made in the last 12 months as we continue to grow our sales and further progress our cough cold development pipeline, despite some challenges in the early stages of the commercial launch.
"Independent market research continues to show a significant market opportunity for our cough cold franchise and we remain excited by this prospect. Throughout the 2016/17 cough cold season we saw Tuzistra® XR prescriptions grow steadily and we expect similar levels of growth for the coming season as we focus on broadening the effectiveness of our salesforce through more focused physician targeting. Importantly, we will commence full promotion of Moxatag® across this salesforce, starting this month. We are also working closely with our partner Tris and the FDA to resubmit the NDAs for CCP-07 and CCP-08 as quickly as possible.
"We would like to thank our staff for their contribution during the year and our shareholders for their continued support. We look forward to continued progress in the coming year and strong growth in Tuzistra® XR prescriptions, as we build a major franchise in cough and cold."
Presentation & Conference Call
Vernalis management will host a presentation at 9.30am (UK) at the offices of FTI Consulting 200 Aldersgate, Aldersgate Street, London, EC1A 4HD. It will also be available via webcast at http://www.vernalis.com/investor-centre/presentations-and-webcasts and www.cantos.com and via conference call, which can be joined by dialling: +44 (0) 20 3003 2666. Please contact Matthew Moss at FTI consulting +44 (0) 20 3727 1000 for details.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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|Vernalis plc:||+44 (0) 118 938 0015|
|Ian Garland, Chief Executive Officer|
|David Mackney, Chief Financial Officer|
|Canaccord Genuity Limited (Nominated Adviser and Joint Broker):||+44 (0) 20 7523 8000|
|Shore Capital (Joint Broker):||+44 (0)20 7408 4090|
|FTI Consulting:||+44 (0) 20 3727 1000|
|Stern Investor Relations:||+1 212 362 1200|
Notes to Editors
Vernalis is a revenue generating, commercial stage pharmaceutical company with significant expertise in drug development. The Group has three approved products: Tuzistra® XR, targeting the US prescription cough-cold market; Moxatag®, a once-a-day formulation of the antibiotic, amoxicillin, indicated for the treatment of tonsillitis and/or pharyngitis secondary to Streptococcus pyogenes in adults and pediatric patients 12 years and older; and frovatriptan for the acute treatment of migraine. It has an exclusive licensing agreement to develop and commercialise multiple novel products focussed on the US prescription cough-cold market as well as eight 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 ten years by collaborations with leading pharmaceutical companies, including Asahi Kasei Pharma, 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 NCE pipeline, the Company's ability to successfully commercialise its cough-cold products and Moxatag® through its own salesforce, 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 Tuzistra® XR, Moxatag®, 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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+44 (0) 118 938 0015
Chief Executive Officer
Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser and Joint Broker):
+44 (0) 20 7523 8000
Shore Capital (Joint Broker):
+44 (0)20 7408 4090
+44 (0) 20 3727 1000
Stern Investor Relations:
+1 212 362 1200