Verona Pharma said its third-quarter losses more than tripled after research and development costs rose.
The company booked a net loss for the three months through September of £9.1m, extending a £2.5m loss reported a year earlier.
R&D costs rose to £6.1m, up from £1.4m, following the initiation and completion of clinical trials and hiring of senior staff.
General and administrative costs also rose.
Verona Pharma said it reported positive data from two clinical studies that were completed ahead of schedule during the third quarter.
At 9:15am: (LON:VRP) Verona Pharma PLC share price was +1p at 134p