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WINNERSH, UNITED KINGDOM--(Marketwired - Mar 17, 2016) - Vernalis plc (
17 March 2016
Unaudited Interim Results Announcement for the six months ended 31 December 2015
Significant progress in Cough Cold franchise:
Tuzistra®XR launched; two further NDAs on track for 2016 submission
Vernalis plc (
Financial Highlights for the six months ended 31 December 2015
US Commercial Pipeline:
Post Period End Highlights
Expected 2015/16 Newsflow (all dates calendar year):
Ian Garland, Chief Executive Officer, commented, "The last six months has seen a major transformation in our business as we launched the first product from our cough cold franchise, Tuzistra® XR, into the US market. This significant milestone marks the beginning of the next phase of our evolution as a commercial specialty pharmaceutical company. We have made significant investment in launching Tuzistra® XR, and this will continue as the product gains greater share of the US cough cold market. We also aim to leverage this investment and our US commercial infrastructure later in the year with the launch of the once-a-day antibiotic, Moxatag®, whose US rights we have acquired. Additionally we continue to progress the rest of the cough cold pipeline and CCP-07 and CCP-08 remain on track for potential NDA submissions in 2016.
Our overall cash position remained strong at the period end and we 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 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, Passcode 5780976# Please contact Jack Bower at FTI consulting +44 (0) 20 3727 1000 for details.
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|Ian Garland, Chief Executive Officer||+44 (0) 118 938 0015|
|David Mackney, Chief Financial Officer|
|Canaccord Genuity Limited (Nominated Adviser):||+44 (0) 20 7523 8000|
|Dr Julian Feneley|
|Shore Capital (Joint Broker)||+44 (0)20 7408 4090|
|FTI Consulting (Financial Communications):||+44 (0) 20 3727 1000|
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 adult and paediatric patients 12 years of age or 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 five years by collaborations with leading pharmaceutical companies, including AKP, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier, Taisho 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 sales force 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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