(RTTNews) - Shares of clinical-stage biopharmaceutical company focused on respiratory diseases Verona Pharma plc (VRNA) are surging more than 85% friday morning at $8.72 after the company said it has raised approximately $200 million in private placement to fund its phase III study dubbed ENHANCE in chronic obstructive pulmonary disease (COPD).
The trials are planned to start later this year.
VRNA is currently trading at $8.38. It has traded in the range of $2.01- $12.89 in the past 52 weeks.
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