2022 Q3 Form 10-Q Financial Statement

#000165731222000027 Filed on August 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit $0.00
YoY Change -100.0%
Gross Profit Margin
Selling, General & Admin $5.290M $5.526M $7.440M
YoY Change -51.39% -30.8% -19.83%
% of Gross Profit
Research & Development $9.838M $14.98M $17.63M
YoY Change -56.39% -27.14% 29.84%
% of Gross Profit
Depreciation & Amortization $157.0K $165.0K $163.0K
YoY Change -3.09% 6.45% 6.54%
% of Gross Profit
Operating Expenses $15.13M $20.51M $25.07M
YoY Change -54.76% -28.16% 9.66%
Operating Profit -$15.13M -$20.51M -$25.07M
YoY Change -330.72% -28.16% 9.66%
Interest Expense $116.0K $91.00K $84.00K
YoY Change 34.88% 7.06% 0.0%
% of Operating Profit
Other Income/Expense, Net -$455.0K $2.821M $310.0K
YoY Change -109.85% -56.63% -81.17%
Pretax Income -$15.58M -$17.69M -$24.76M
YoY Change -239.41% -19.76% 16.71%
Income Tax $64.00K $79.00K $82.00K
% Of Pretax Income
Net Earnings -$15.65M -$17.77M -$24.84M
YoY Change -241.59% -19.49% 16.66%
Net Earnings / Revenue
Basic Earnings Per Share -$0.03 -$0.04 -$0.05
Diluted Earnings Per Share -$0.03 -$0.04 -$0.05
COMMON SHARES
Basic Shares Outstanding 487.6M shares 484.8M shares 481.9M shares
Diluted Shares Outstanding 544.1M shares 484.8M shares 481.9M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $231.7M $111.5M $132.8M
YoY Change 39.12% -23.64% -21.72%
Cash & Equivalents $231.7M $111.5M $132.8M
Short-Term Investments
Other Short-Term Assets $3.077M $2.206M $2.525M
YoY Change 361.32% -4.91% 70.15%
Inventory
Prepaid Expenses $3.355M $4.731M $1.246M
Receivables
Other Receivables
Total Short-Term Assets $258.5M $138.6M $153.0M
YoY Change 40.09% -35.9% -18.9%
LONG-TERM ASSETS
Property, Plant & Equipment $81.00K $91.00K $71.00K
YoY Change -7.95% 2.25% -27.55%
Goodwill $544.0K $545.0K $545.0K
YoY Change -0.18% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $15.00M $15.00M $15.00M
YoY Change 0.0%
Other Assets
YoY Change
Total Long-Term Assets $16.42M $16.22M $16.36M
YoY Change -3.81% 631.14% 956.17%
TOTAL ASSETS
Total Short-Term Assets $258.5M $138.6M $153.0M
Total Long-Term Assets $16.42M $16.22M $16.36M
Total Assets $274.9M $154.9M $169.3M
YoY Change 36.37% -29.13% -10.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.002M $9.364M $8.064M
YoY Change 88811.11% 27441.18% 1390.57%
Accrued Expenses $22.98M $28.60M $28.88M
YoY Change -13.15% 66.41% 239.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.13M $38.86M $37.90M
YoY Change 15.82% -33.41% 198.5%
LONG-TERM LIABILITIES
Long-Term Debt $5.000M $5.000M $4.900M
YoY Change 4.17% 4.17% 4.26%
Other Long-Term Liabilities $224.0K $132.0K $177.0K
YoY Change -71.89% -86.45% -55.75%
Total Long-Term Liabilities $5.259M $5.113M $5.105M
YoY Change -6.39% -10.94% 1.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.13M $38.86M $37.90M
Total Long-Term Liabilities $5.259M $5.113M $5.105M
Total Liabilities $37.39M $43.98M $43.01M
YoY Change 12.08% -31.4% 142.49%
SHAREHOLDERS EQUITY
Retained Earnings -$322.4M -$306.7M -$288.7M
YoY Change 34.17% 22.05% 26.4%
Common Stock $39.12M $32.18M $32.18M
YoY Change 22.8% 1.12% 1.22%
Preferred Stock
YoY Change
Treasury Stock (at cost) $449.0K $591.0K $739.0K
YoY Change -41.69% -29.89% -55.75%
Treasury Stock Shares
Shareholders Equity $237.5M $110.9M $126.3M
YoY Change
Total Liabilities & Shareholders Equity $274.9M $154.9M $169.3M
YoY Change 36.37% -29.13% -10.96%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$15.65M -$17.77M -$24.84M
YoY Change -241.59% -19.49% 16.66%
Depreciation, Depletion And Amortization $157.0K $165.0K $163.0K
YoY Change -3.09% 6.45% 6.54%
Cash From Operating Activities -$18.10M -$19.52M -$14.51M
YoY Change -179.28% -3.41% -21.77%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$29.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 -$29.00K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $67.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 139.6M -689.0K -$726.0K
YoY Change -7784.04% -79.73%
NET CHANGE
Cash From Operating Activities -18.10M -19.52M -$14.51M
Cash From Investing Activities 0.000 -29.00K $0.00
Cash From Financing Activities 139.6M -689.0K -$726.0K
Net Change In Cash 121.5M -20.24M -$15.62M
YoY Change 478.77% -14.28% -15.08%
FREE CASH FLOW
Cash From Operating Activities -$18.10M -$19.52M -$14.51M
Capital Expenditures $0.00 -$29.00K $0.00
Free Cash Flow -$18.10M -$19.49M -$14.51M
YoY Change -179.24% -3.55% -21.77%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001657312
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38067
dei Entity Registrant Name
EntityRegistrantName
Verona Pharma plc
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
X0
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
98-1489389
dei Entity Address Address Line1
EntityAddressAddressLine1
3 More London Riverside
dei Entity Address City Or Town
EntityAddressCityOrTown
London
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
SE1 2RE
dei Entity Address Country
EntityAddressCountry
GB
dei Country Region
CountryRegion
44
dei City Area Code
CityAreaCode
203
dei Local Phone Number
LocalPhoneNumber
283 4200
dei Security12b Title
Security12bTitle
Ordinary shares, nominal value £0.05 per share*
dei Trading Symbol
TradingSymbol
VRNA
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
true
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
487633374 shares
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
111510000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
148380000 usd
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
4731000 usd
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
4037000 usd
CY2022Q2 vrna Tax Credit And Income Taxes Receivable Current
TaxCreditAndIncomeTaxesReceivableCurrent
20185000 usd
CY2021Q4 vrna Tax Credit And Income Taxes Receivable Current
TaxCreditAndIncomeTaxesReceivableCurrent
15583000 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
2206000 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2063000 usd
CY2022Q2 us-gaap Assets Current
AssetsCurrent
138632000 usd
CY2021Q4 us-gaap Assets Current
AssetsCurrent
170063000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
91000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
545000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
545000 usd
CY2022Q2 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
15000000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
15000000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
588000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
899000 usd
CY2022Q2 us-gaap Assets Noncurrent
AssetsNoncurrent
16224000 usd
CY2021Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
16524000 usd
CY2022Q2 us-gaap Assets
Assets
154856000 usd
CY2021Q4 us-gaap Assets
Assets
186587000 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
9364000 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
10044000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28603000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22256000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
464000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
648000 usd
CY2022Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
311000 usd
CY2021Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
147000 usd
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
121000 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
327000 usd
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
38863000 usd
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
33422000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4981000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4874000 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
132000 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
286000 usd
CY2022Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
5113000 usd
CY2021Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
5160000 usd
CY2022Q2 us-gaap Liabilities
Liabilities
43976000 usd
CY2021Q4 us-gaap Liabilities
Liabilities
38582000 usd
CY2022Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.05
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.05
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
494058246 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
489177550 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
485298326 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
480082966 shares
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
32182000 usd
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
31855000 usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
390543000 usd
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
385070000 usd
CY2022Q2 us-gaap Treasury Stock Value
TreasuryStockValue
591000 usd
CY2021Q4 us-gaap Treasury Stock Value
TreasuryStockValue
603000 usd
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4601000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4601000 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-306653000 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-263716000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
110880000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
148005000 usd
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
154856000 usd
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
186587000 usd
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14982000 usd
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20563000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
32607000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
34137000 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5526000 usd
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7985000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12966000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17267000 usd
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
20508000 usd
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
28548000 usd
us-gaap Operating Expenses
OperatingExpenses
45573000 usd
us-gaap Operating Expenses
OperatingExpenses
51404000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-20508000 usd
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-28548000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-45573000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-51404000 usd
CY2022Q2 vrna Gain Loss From Research And Development Tax Credit
GainLossFromResearchAndDevelopmentTaxCredit
5409000 usd
CY2021Q2 vrna Gain Loss From Research And Development Tax Credit
GainLossFromResearchAndDevelopmentTaxCredit
3836000 usd
vrna Gain Loss From Research And Development Tax Credit
GainLossFromResearchAndDevelopmentTaxCredit
6711000 usd
vrna Gain Loss From Research And Development Tax Credit
GainLossFromResearchAndDevelopmentTaxCredit
5906000 usd
CY2022Q2 us-gaap Investment Income Net
InvestmentIncomeNet
165000 usd
CY2021Q2 us-gaap Investment Income Net
InvestmentIncomeNet
3000 usd
us-gaap Investment Income Net
InvestmentIncomeNet
180000 usd
us-gaap Investment Income Net
InvestmentIncomeNet
7000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
91000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
85000 usd
us-gaap Interest Expense
InterestExpense
175000 usd
us-gaap Interest Expense
InterestExpense
169000 usd
CY2022Q2 vrna Unrealized Gain Loss On Warrants
UnrealizedGainLossOnWarrants
0 usd
CY2021Q2 vrna Unrealized Gain Loss On Warrants
UnrealizedGainLossOnWarrants
2711000 usd
vrna Unrealized Gain Loss On Warrants
UnrealizedGainLossOnWarrants
0 usd
vrna Unrealized Gain Loss On Warrants
UnrealizedGainLossOnWarrants
2204000 usd
CY2022Q2 vrna Foreign Currency Transaction Gain Loss Before Tax Excluding Finance Leases
ForeignCurrencyTransactionGainLossBeforeTaxExcludingFinanceLeases
-2662000 usd
CY2021Q2 vrna Foreign Currency Transaction Gain Loss Before Tax Excluding Finance Leases
ForeignCurrencyTransactionGainLossBeforeTaxExcludingFinanceLeases
40000 usd
vrna Foreign Currency Transaction Gain Loss Before Tax Excluding Finance Leases
ForeignCurrencyTransactionGainLossBeforeTaxExcludingFinanceLeases
-3585000 usd
vrna Foreign Currency Transaction Gain Loss Before Tax Excluding Finance Leases
ForeignCurrencyTransactionGainLossBeforeTaxExcludingFinanceLeases
203000 usd
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2821000 usd
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
6505000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3131000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
8151000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-17687000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-22043000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-42442000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-43253000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
79000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
161000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
105000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17766000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-22068000 usd
us-gaap Net Income Loss
NetIncomeLoss
-42603000 usd
us-gaap Net Income Loss
NetIncomeLoss
-43358000 usd
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
484777837 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
484777837 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
470786767 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
470786767 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
483226039 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
483226039 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
469036978 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
469036978 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
148005000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-24837000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
67000 usd
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
793000 usd
CY2022Q1 vrna Adjustments To Additional Paid In Capital Reclassification From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalReclassificationFromShareBasedCompensation
-118000 usd
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
80696 shares
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3747000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
126307000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17766000 usd
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
689000 usd
CY2022Q2 vrna Adjustments To Additional Paid In Capital Reclassification From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalReclassificationFromShareBasedCompensation
25000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3053000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
110880000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
184854000 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-21290000 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8850000 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
172414000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-22068000 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
383000 usd
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3782000 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7450000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
154397000 usd
us-gaap Net Income Loss
NetIncomeLoss
-42603000 usd
us-gaap Net Income Loss
NetIncomeLoss
-43358000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3256000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
186000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
44000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
69000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
63000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
63000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2204000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6801000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
16300000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
328000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
305000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
25002000 usd
vrna Increase Decrease In Equity Interest Receivable
IncreaseDecreaseInEquityInterestReceivable
0 usd
vrna Increase Decrease In Equity Interest Receivable
IncreaseDecreaseInEquityInterestReceivable
15000000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
694000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
5279000 usd
vrna Increase Decrease In Tax And Tax Credit Receivables Current
IncreaseDecreaseInTaxAndTaxCreditReceivablesCurrent
6461000 usd
vrna Increase Decrease In Tax And Tax Credit Receivables Current
IncreaseDecreaseInTaxAndTaxCreditReceivablesCurrent
5848000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
143000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
600000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
0 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6325000 usd
vrna Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-338000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
4823000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-680000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-144000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6347000 usd
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.86
vrna Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
393000 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
164000 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
0 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
0 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
40051000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-113000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
182000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-34029000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-38756000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3782000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
67000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-29000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1482000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
383000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1415000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3399000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1397000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
204000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-36870000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-41951000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
148380000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
187986000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
111510000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146035000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
115000 usd
us-gaap Interest Paid Net
InterestPaidNet
109000 usd
vrna Number Of Wholly Owned Subsidiaries
NumberOfWhollyOwnedSubsidiaries
1 subsidiary
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-306700000 usd
us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
100000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:110%">Use of estimates</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:110%">The preparation of interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, the accrual and prepayment of research and development expenses, the fair value of share-based compensation, the fair value of warrants, research and development tax credit and the carrying value of the equity interest in Nuance Pharma (as defined below). Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from the Company’s estimates.</span></div>
CY2022Q2 vrna Research And Development Tax Credit Receivable Current
ResearchAndDevelopmentTaxCreditReceivableCurrent
20185000 usd
CY2021Q4 vrna Research And Development Tax Credit Receivable Current
ResearchAndDevelopmentTaxCreditReceivableCurrent
15583000 usd
CY2022Q2 vrna Tax Credit And Income Taxes Receivable Current
TaxCreditAndIncomeTaxesReceivableCurrent
20185000 usd
CY2021Q4 vrna Tax Credit And Income Taxes Receivable Current
TaxCreditAndIncomeTaxesReceivableCurrent
15583000 usd
CY2022Q2 vrna Accrued Research And Development Fees Current
AccruedResearchAndDevelopmentFeesCurrent
26364000 usd
CY2021Q4 vrna Accrued Research And Development Fees Current
AccruedResearchAndDevelopmentFeesCurrent
21336000 usd
CY2022Q2 vrna Accrued Professional Fees Listing And General Corporate Costs Current
AccruedProfessionalFeesListingAndGeneralCorporateCostsCurrent
1093000 usd
CY2021Q4 vrna Accrued Professional Fees Listing And General Corporate Costs Current
AccruedProfessionalFeesListingAndGeneralCorporateCostsCurrent
919000 usd
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1146000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28603000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22256000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
5000000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3053000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7451000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6801000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16300000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12695200 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.38
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
608000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.62
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13303200 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.34
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-22068000 usd
us-gaap Net Income Loss
NetIncomeLoss
-42603000 usd
us-gaap Net Income Loss
NetIncomeLoss
-43358000 usd
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46183144 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1760000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.51
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15063200 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.24
CY2022Q2 dei Entity Listing Depository Receipt Ratio
EntityListingDepositoryReceiptRatio
8
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17766000 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
484777837 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
484777837 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
470786767 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
470786767 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
483226039 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
483226039 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
469036978 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
469036978 shares
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46183144 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
75713291 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
75713291 shares
CY2022Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
1300000 usd

Files In Submission

Name View Source Status
0001657312-22-000027-index-headers.html Edgar Link pending
0001657312-22-000027-index.html Edgar Link pending
0001657312-22-000027.txt Edgar Link pending
0001657312-22-000027-xbrl.zip Edgar Link pending
exhibit311q222.htm Edgar Link pending
exhibit312q222.htm Edgar Link pending
exhibit321q222.htm Edgar Link pending
exhibit322q222.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vrna-20220630.htm Edgar Link pending
vrna-20220630.xsd Edgar Link pending
vrna-20220630_def.xml Edgar Link unprocessable
vrna-20220630_pre.xml Edgar Link unprocessable
vrna-20220630_lab.xml Edgar Link unprocessable
vrna-20220630_htm.xml Edgar Link completed
vrna-20220630_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable