Climate Change Data

Environmental Metrics

ESG Focus Areas

• Greenhouse Gas Emissions
• Diversity Policy
• Whistleblowing
• Employment
• Relations with shareholders
• Relations with suppliers

Environmental Achievements

• Not disclosed

Social Achievements

• In September 2022, Ostra Jewell joined Verona Pharma as Senior Vice President, Human Resources; In January 2023, Kavita Aggarwal joined Verona Pharma as Senior Vice President, Medical Affairs.
• Not disclosed

Governance Achievements

• Appointment of Mr. James Brady as a Non-Executive Director in March 2022.
• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Limited operating history and never generated product revenue
• May need additional funding
• Advances under the $150.0 million Oxford Term Loan are contingent upon achievement of certain clinical and regulatory milestones
• Changes in tax rates
• Dependence on ensifentrine's success
• Potential for serious adverse side effects
• Difficulty enrolling patients in clinical trials
• Potential for costly liability claims
• Regulatory approval processes are unpredictable
• Enacted and future legislation may increase costs
• Dependence on third parties for pre-clinical studies and clinical trials
• Dependence on Nuance Pharma collaboration
• Dependence on third-party manufacturers and suppliers
• Challenges in enforcing patents
• Difficulty in identifying relevant third-party patents
• Potential for costly lawsuits
• Challenges in retaining and recruiting key personnel
• Difficulties in managing growth
• Volatile share price
• Increased costs of operating as a public company

Mitigation Strategies

• Ongoing assessment of risks and mitigation strategies
• Risk management program to minimize potential adverse effects
• Investing surplus cash in highly liquid money market funds
• Comprehensive budgeting process
• Monthly management accounts with variance investigations
• Appropriate insurance cover
• Outsourcing of research, development, testing and manufacturing activities
• Intellectual property protection strategies
• Strategic relationships for ensifentrine
• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

Social Achievements

• Launched a disease awareness campaign titled "Unspoken COPD" to encourage healthcare professionals to better understand patient experiences with COPD.

Climate Goals & Targets

Environmental Challenges

• Limited operating history and no product revenue.
• Need for additional funding to complete development and commercialization.
• Dependence on the success of ensifentrine.
• Potential for serious adverse side effects of ensifentrine.
• Lengthy and unpredictable regulatory approval processes.
• Intense competition in the pharmaceutical industry.
• Uncertainty regarding coverage and reimbursement.
• Risks associated with international operations.
• Dependence on third parties for clinical trials and manufacturing.
• Challenges in protecting intellectual property rights.
• Increased costs associated with operating as a public company.
• Potential for business interruptions.
• Changes in tax rates and availability of tax credits.

Mitigation Strategies

• Secured a term loan facility of up to $400 million.
• Continued building commercial capabilities and launch readiness.
• Developing ensifentrine in other formulations and indications.
• Maintaining product liability insurance.
• Engaging in collaborations to support development and commercialization.
• Implementing a cybersecurity risk management program.
• Developing and implementing a robust internal control system.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Business Ethics
• Privacy
• Financial Integrity
• Compliance
• Workplace Conduct
• Stakeholder Engagement
• Environmental Sustainability

Social Achievements

• Commitment to equal opportunities and a harassment-free workplace.

Governance Achievements

• Establishment of an Ethics Hotline and clear reporting procedures for concerns and violations.

Climate Goals & Targets

Environmental Challenges

• Maintaining ethical conduct in global operations.
• Protecting confidential information.
• Ensuring compliance with various laws and regulations.

Mitigation Strategies

• Implementation of a Code of Business Conduct and Ethics.
• Establishment of an Ethics Hotline.
• Clear policies and procedures for handling conflicts of interest, gifts, and other ethical dilemmas.
• Training and guidance for employees.

Supply Chain Management

Responsible Procurement

• Ethical considerations in selecting business partners.

Climate-Related Risks & Opportunities