Top 10 Holdings of Caligan Partners

6. Verona Pharma plc (NASDAQ:VRNA)

Caligan Partners’ Equity Stake: $20.86 Million

Number of Hedge Fund Holders: 22

Verona Pharma plc (NASDAQ:VRNA) is a clinical-stage biopharmaceutical company specializing in developing and commercializing therapies for treating respiratory diseases. The stock is up by more than 15% for the year, having received a boost from the US Food and Drugs Administration approving its lead pipeline product for chronic obstructive pulmonary disease for the maintenance treatment of COPD in adult patients.

With the approval, it became Verona Pharma plc (NASDAQ:VRNA) ‘s first-ever marketed product, with a commercial launch slated for the third quarter. This authorization also places the firm in a leading position over Sanofi’s SNY/Regeneron’s REGN top-selling medication Dupixent, which is presently undergoing the FDA’s evaluation for an expanded use indication in COPD. These firms are requesting the FDA’s consent for their medication to be used as an additional treatment for certain adult patients with COPD who are not under control.

On the other hand, 22 out of 920 hedge funds in the Insider Monkey database held stakes in Verona Pharma plc (NASDAQ:VRNA) as of the end of Q1 2024.