RPL554 is a possible treatment for chronic obstructive pulmonary disease. It is an inhaled dual inhibitor of the enzymes phosphodiesterase three and four, Verona said, with bronchodilator and anti-inflammatory properties.
The company said the new study met its primary endpoint, producing a statistically significant improvement in peak forced expiratory volume in one second at four weeks in patients with the disease compared to a placebo.
Further, this volume was much improved at all time points over the four weeks of dosing, and RPL554 also met targets on symptoms and quality of life.
"These results are very encouraging and strongly support the progression of RPL554 into later stage development as an inhaled treatment for COPD patients," said Chief Executive Jan-Anders Karlsson.
"The future clinical development and the positioning of this novel treatment will be informed by these data as well as by the outcome of the clinical study as an add-on to established combination therapies planned to start this year, and our ongoing market research," he added.
Verona shares were up 15% on Monday at a price of