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Verona Pharma Breath of Innovation ™ M Verona Pharma Reports Second Quarter 2021 Financial Results and Provides Corporate Update ENHANCE Phase 3 program on track to report top - line data in 2022 Up to $ 219 million strategic collaboration with Nuance Pharma in Greater China Conference call today at 8:30 a.m. EDT / 1:30 p.m. BST LONDON and RALEIGH , N.C. , August 5 , 2021 – Verona Pharma plc ( Nasdaq : VRNA ) ( " Verona Pharma " or the " Company " ) , a clinical - stage biopharmaceutical company focused on respiratory diseases , announces its financial results for the three months ended June 30 , 2021 , and provides a corporate update . " During the second quarter , we continued steady progress on patient recruitment in our Phase 3 ENHANCE ( " Ensifentrine as a Novel inHAled Nebulized COPD thErapy " ) clinical program , ” said David Zaccardelli , Pharm . D. , President and Chief Executive Officer . " Patient enrollment in both ENHANCE - 1 and ENHANCE - 2 continues across our international clinical trial sites . Over the past quarter , numerous COVID - 19 related challenges , including new variants and increased infection and hospitalization rates across a number of countries , have put pressure on our recruitment timelines . We have implemented various mitigation strategies to address these challenges . Based on our current models , our projections for reporting top - line data are in - line with previous guidance , with ENHANCE - 2 expected to report in the first half of 2022 and ENHANCE - 1 in the second half of 2022 . Should COVID - 19 related challenges continue to increase , we predict top - line data would be expected in the third quarter of 2022 from ENHANCE - 2 and the fourth quarter of 2022 from ENHANCE - 1 . " In addition to our clinical progress , we are pleased to have executed on our strategy to partner ensifentrine outside the US . In June , we announced a strategic collaboration with Nuance Pharma , a Shanghai - based specialty pharmaceutical company , with a potential value of up to $ 219 million , to which we granted the rights to develop and commercialize ensifentrine in Greater China . The collaboration highlights ensifentrine's potential clinical value to respiratory patients globally and provides us with additional funds to support our efforts to develop and bring ensifentrine to patients in need . Nuance Pharma intends to meet with China's National Medical Products Administration to develop a plan to file an Investigational New Drug application for the treatment of COPD and we look forward to reporting on the progress . " Program Updates and Key Milestones As of the end of July , ENHANCE - 2 had 63 % of patients randomized into the study . Including those patients currently entered in the run - in period , we expect ENHANCE - 2 to be approximately 70 % enrolled by the end of August . Additionally , at the end of July , the 48 - week subset in ENHANCE - 1 had 70 % of patients randomized into the study . Including those patients currently entered in the run - in period , we expect the 48 - week subset in ENHANCE - 1 to be approximately 80 % enrolled by the end of August . Completing recruitment of the 48 - week subset in ENHANCE - 1 is a critical driver of the timeline for reporting top - line data from the study .