ORBIMED ADVISORS LLC - 11 May 2023 Form 4 Insider Report for Verona Pharma plc (VRNA)

Reporting relationship: Director
Issuer ticker: VRNA
Reported as of: 11 May 2023
Net transaction value: -$9,938,132
SEC form: 4
Accepted by SEC: 15 May 2023, 18:07:49 UTC
Prior SEC filing: 08 May 2023
Next SEC filing: 19 May 2023
Source filing: View source filing
Reporting owner signature: /s/ Carl L. Gordon, Member of OrbiMed Advisors LLC

Key filing fact

ORBIMED ADVISORS LLC filed Form 4 for Verona Pharma plc (VRNA) on 15 May 2023.

Key facts

This page summarizes ORBIMED ADVISORS LLC's Form 4 filing for Verona Pharma plc (VRNA).
4 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 15 May 2023, 18:07.

Change

Previous filing in this sequence was filed on 08 May 2023.
Current net transaction value: -$9,938,132.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

VRNA transaction

Ordinary Shares

Sale

Transaction value: $1,780,800
Shares: -80,000
Change %: -1.9%
Price: $22.26
Shares after: 4,180,691
Date: 11 May 2023
Ownership: See footnotes
Footnotes: F1, F2, F3

VRNA transaction

Ordinary Shares

Sale

Transaction value: $934,848
Shares: -43,200
Change %: -1%
Price: $21.64
Shares after: 4,137,491
Date: 12 May 2023
Ownership: See footnotes
Footnotes: F1, F2, F3

VRNA transaction

Ordinary Shares

Sale

Transaction value: $316,224
Shares: -14,400
Change %: -0.35%
Price: $21.96
Shares after: 4,123,091
Date: 15 May 2023
Ownership: See footnotes
Footnotes: F1, F2, F3

VRNA transaction

Ordinary Shares

Sale

Transaction value: $6,906,260
Shares: -345,313
Change %: -8.4%
Price: $20.00
Shares after: 3,777,778
Date: 15 May 2023
Ownership: See footnotes
Footnotes: F1, F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

Consists of American Depository Shares ("ADSs") held of record by OrbiMed Private Investments VI, LP ("OPI VI"). Each ADS represents eight Ordinary Shares of the Issuer.

Footnote F2

These securities are held of record by OPI VI. OrbiMed Capital GP VI LLC ("OrbiMed GP") is the general partner of OPI VI, and OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of OrbiMed GP. By virtue of such relationships, OrbiMed GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VI and, as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by OPI VI.

Footnote F3

This report on Form 4 is jointly filed by OrbiMed Advisors and OrbiMed GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated a representative, Rishi Gupta, an employee of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.