Underwriters for Verona Pharma PLC's global offering of American depositary shares, or ADS, and ordinary shares further exercised their overallotment option, and will buy an additional 41,353 ADS at $13.50 apiece.

The company will raise an additional $600,000 in gross proceeds from the further exercise of the option, for total gross proceeds of about $89.9 million. After the closing of the further exercise of the overallotment option, which is expected May 26, Verona Pharma will have sold 6,501,738 ADS.

Jefferies and Stifel acted as joint book-running managers for the global offering with Wedbush PacGrow and SunTrust Robinson Humphrey acting as co-managers.