Director dealings: Piers Morgan's spouse ups stake in Verona Pharma

Verona Pharma revealed on Wednesday that chief financial officer Piers Morgan's wife Kayt Morgan had acquired 33,802 ordinary shares in the AIM-listed biotechnology outfit.

Morgan's wife purchased the shares on Tuesday at an average price of 59p each, for a total value of £19,943.

Following the acquisition, Morgan will have a beneficial interest in the company of 147,009 ordinary shares, representing 0.14% of Verona's issued share capital, and takes the pair's total investment into the company over the last few months to £52,000.

Earlier in May, Verona announced the initiation of a phase 2b dose-ranging study evaluating nebulised ensifentrine (RPL554) added on to a long-acting bronchodilator in patients with moderate-to-severe chronic obstructive pulmonary disease (COPD) on Tuesday.

Verona told investors it anticipated reporting data around the end of the year, and beginning phase 3 clinical trials for the indication in 2020.

As of 1620 BST, Verona shares had slipped 2.96% to 57.25p.

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