Verona Pharma gains as preliminary 4Q sales exceed estimates

Investing.com -- Verona Pharma (NASDAQ:VRNA ), the pharmaceutical company known for its pulmonary disease drug, Ohtuvayre, has reported a premarket gain of 4.6% after the company announced preliminary fourth-quarter sales of Ohtuvayre that surpassed expectations.

Verona Pharma had previously introduced Ohtuvayre to the US market in August. The drug, designed to treat pulmonary diseases, has evidently been well-received, contributing to the company's increased sales.

In addition to the successful sales of Ohtuvayre, Verona Pharma anticipates reporting a robust financial position.

The company's cash and cash equivalents as of December 31 were approximately $400 million.

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Source: Investing.com