SOURCE: Vernalis PLC

August 07, 2017 02:08 ET

Vernalis PLC: FDA Issues Complete Response Letter on CCP-08 NDA

WINNERSH, UNITED KINGDOM--(Marketwired - Aug 7, 2017) - Vernalis PLC (LSE: VER)

07 August 2017

LSE: VER

FDA Issues a Complete Response Letter on CCP-08 NDA

Vernalis plc announced today that the US Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the New Drug Application (NDA) for CCP-08.

A CRL is issued by the FDA when it has completed its review of an NDA and questions remain that preclude its approval at this time. This CRL indicated that the outstanding items which resulted in the CRL for CCP-07 remain and that they need to be addressed prior to the resubmission and approval of both NDAs.

"Unfortunately, the outstanding items that resulted in a CRL for CCP-07 could not be addressed in time to avoid the same outcome for CCP-08. The approval of both CCP-08 and CCP-07 are of the utmost importance to Vernalis, and we are working closely with our partner Tris and the FDA to resubmit both NDAs as quickly as possible," said Ian Garland, CEO of Vernalis plc. "We look forward to providing additional updates on our progress with this in the coming months."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement this inside information is now considered to be in the public domain.

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Enquiries:

Vernalis plc:   +44 (0) 118 938 0015
Ian Garland, Chief Executive Officer
David Mackney, Chief Financial Officer
   
     
Canaccord Genuity Limited (Nominated Adviser and Joint Broker):   +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor
Emma Gabriel
   
     
Shore Capital (Joint Broker):   +44 (0) 20 7408 4090
Bidhi Bhoma
Toby Gibbs
   
     
FTI Consulting:   +44 (0) 20 3727 1000
Ben Atwell
Simon Conway
Stephanie Cuthbert
   
     
Stern Investor Relations, Inc:   + 1 212 362 1200
Stephanie Ascher
Carl Mauch
   

Notes to Editors

About Vernalis
Vernalis is a revenue generating, commercial stage pharmaceutical company with significant expertise in drug development. The Group has three approved products: Tuzistra® XR targeting the US prescription cough cold market; Moxatag®, a once-daily formulation of the antibiotic, amoxicillin, indicated for the treatment of tonsillitis and/or pharyngitis secondary to Streptococcus pyogenes in adults and pediatric patients 12 years and older; and frovatriptan for the acute treatment of migraine. It has an exclusive licensing agreement to develop and commercialise multiple novel products focused on the US prescription cough cold market as well as eight programmes in its NCE development pipeline. Vernalis has also significant expertise in fragment and structure based drug discovery which it leverages to enter into collaborations with larger pharmaceutical companies. The Company's technologies, capabilities and products have been endorsed over the last five years by collaborations with leading pharmaceutical companies, including Asahi Kasei Pharma, Biogen Idec, Endo, GSK, Genentech, Lundbeck, Menarini, Novartis, Servier and Tris.

For further information about Vernalis, please visit www.vernalis.com

Vernalis Forward-Looking Statement
This news release may contain forward-looking statements that reflect the Company's current expectations regarding future events including the clinical development and regulatory clearance of the Company's products, the Company's ability to find partners for the development and commercialisation of its NCE pipeline, the Company's ability to successfully commercialise its cough cold products and Moxatag® through its own sales force, as well as the Company's future capital raising activities. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies, the uncertainties related to the regulatory process, the ability of the Company to identify and agree beneficial terms with suitable partners for the commercialisation and/or development of its products, as well as the achievement of expected synergies from such transactions, the acceptance of Tuzistra® XR, Moxatag®, frovatriptan and other products by consumers and medical professionals, the successful integration of completed mergers and acquisitions and achievement of expected synergies from such transactions, and the ability of the Company to identify and consummate suitable strategic and business combination transactions.

Contact Information

  • Enquiries:

    Vernalis plc:
    Ian Garland, Chief Executive Officer
    David Mackney, Chief Financial Officer
    +44 (0) 118 938 0015

    Canaccord Genuity Limited (Nominated Adviser and Joint Broker):
    Henry Fitzgerald-O'Connor
    Emma Gabriel
    +44 (0) 20 7523 8000

    Shore Capital (Joint Broker):
    Bidhi Bhoma
    Toby Gibbs
    +44 (0) 20 7408 4090

    FTI Consulting:
    Ben Atwell
    Simon Conway
    Stephanie Cuthbert
    +44 (0) 20 3727 1000

    Stern Investor Relations, Inc:
    Stephanie Ascher
    Carl Mauch
    + 1 212 362 1200