SCHEDULE: Perceptive Advisors Reports 0% Verona Pharma Stake

Perceptive Advisors and related entities have reported ceasing beneficial ownership of Verona Pharma plc shares following its acquisition by Merck & Co., Inc.

Summary

• Perceptive Advisors LLC, Joseph Edelman, and Perceptive Life Sciences Master Fund, Ltd. (collectively, the "Reporting Persons") no longer beneficially own any shares of Verona Pharma plc.
• The aggregate amount beneficially owned by each Reporting Person is 0.00 shares, representing 0% of the class of Ordinary shares.
• This change in ownership occurred following the consummation of the acquisition of Verona Pharma plc by Merck & Co., Inc. on October 8, 2025.
• All shares previously beneficially owned by the Reporting Persons were cashed out as part of the acquisition.

Sentiment

Score: 5

Explanation: The filing is a factual, post-event disclosure of a change in beneficial ownership to 0% due to an acquisition, carrying a neutral sentiment regarding the reporting persons' current position.

Future Outlook

NA

Industry Context

This filing reflects the finalization of a significant M&A event in the pharmaceutical sector, where a major player, Merck & Co., Inc., acquired Verona Pharma plc. Such acquisitions often lead to the delisting of the acquired company's shares and the cashing out of existing shareholders, as seen with Perceptive Advisors' exit.

Stakeholder Impact

• Shareholders (Reporting Persons): Perceptive Advisors LLC, Joseph Edelman, and Perceptive Life Sciences Master Fund, Ltd. are no longer shareholders of Verona Pharma plc, having cashed out their shares as part of the acquisition.

Key Dates

Keywords

Verona Pharma, Perceptive Advisors, Merck & Co., Acquisition, Beneficial Ownership, Schedule 13G, Pharmaceuticals, Biotechnology