StockMarketWire.com - Verona Pharma announced the US Food and Drug Administration (FDA) authorized the initiation of a pharmacokinetic (PK) clinical trial in the US for its product candidate, RPL554, with the acceptance of an investigational new drug (IND) application. The company said RPL554 is a first-in-class, inhaled, dual inhibitor of the enzymes phosphodiesterase 3 and 4 designed to have anti-inflammatory as well as bronchodilator properties. Management announced it is currently in development for the treatment of chronic obstructive pulmonary disease and cystic fibrosis. With the IND effective, the company said it plans to initiate a PK clinical trial in the middle of this year in approximately 12 healthy volunteers to determine the oral bioavailability of RPL554, as well as assess the safety and tolerability of the drug. Top-line data would be expected in the fourth quarter of 2017. Story provided by StockMarketWire.com