Page 1

Verona Pharma Breath of Innovation ™ M Verona Pharma Reports Third Quarter 2021 Financial Results and Provides Corporate Update Enrollment in ENHANCE - 1 48 - week subset and ENHANCE - 2 expected to complete around year - end 2021 ENHANCE Phase 3 program on track to report top - line data in 2022 Conference call today at 9:00 a.m. EST / 2:00 p.m. GMT LONDON and RALEIGH , N.C. , November 9 , 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 September 30 , 2021 , and provides a corporate update . " During the third quarter , we continued to make substantial 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 . " We are excited to report patient enrollment is nearing completion and expect that by the end of November both the 800 patient ENHANCE - 2 trial and the 400 patient 48 - week subset of the ENHANCE - 1 trial will be approximately 95 % enrolled . " We are pleased with our ability to advance recruitment in these international , multi - site clinical trials during a global pandemic . Although the pace of enrollment is expected to slow due to the approaching holiday season and the continued effects of the COVID - 19 pandemic , we still expect to complete enrollment in ENHANCE - 2 and the 48 - week subset of ENHANCE - 1 around year - end 2021. We expect to report top - line data from ENHANCE - 2 mid - year 2022 and from ENHANCE - 1 around the end of 2022. " Program Updates and Key Milestones As of November 8 , 2021 , ENHANCE - 2 had approximately 90 % of patients randomized into the study . Including those patients currently entered in the run - in period , we expect ENHANCE - 2 to be approximately 95 % enrolled by the end of November 2021 . The 48 - week subset of ENHANCE - 1 is a critical driver of delivering top - line data . As of November 8 , 2021 , this subset had approximately 95 % of patients randomized into the study . The Company's near - term milestones include : • • In mid - November , Ms. Caroline Diaz will join Verona Pharma as Senior Vice President of Regulatory Affairs , bringing more than 18 years of experience in both large and small pharmaceutical companies across key regions . Ms. Diaz has served at ReViral as Vice President , Regulatory Affairs , and , previously , as Vice President , Regulatory and Quality at Dova Pharmaceuticals where she built the regulatory function from the ground up and led regulatory strategy development and implementation efforts resulting in the first marketing approvals for the company . In December 2021 , the Company expects to report results from a 32 - patient thorough QT study to evaluate the effect of ensifentrine on measures of cardiac conduction , which the Company is carrying out in support of a potential NDA submission .