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VRCA

VRCA US Stock
$14.22
Open: $12.01 High: $12.75 Low: $11.43 Close: $11.55
Range: 2021-05-06 - 2021-05-07
Volume: 60,157
Market: Closed
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VRCA
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VRCA News
Latest news about the VRCA
  • Verrica Pharmaceuticals Announces Participation in the 20th Annual Needham Virtual Healthcare Conference

    WEST CHESTER, Pa., April 06, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that Ted White, Verrica President and CEO, will present a business overview at the 20th Annual Needham Virtual Healthcare Conference on Tuesday, April 13, 2021, at 8:45 a.m. ET. Participants may access a live webcast of the event through the following link:https://wsw.com/webcast/needham107/vrca/2245496. The webcast can also be accessed in the Investors/Presentations & Events section of the Verrica website at www.verrica.com. The webcast replay will be available shortly after conclusion of the event for 30 days. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, Visit www.verrica.com. FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@soleburytrout.com Media: Zara LockshinSolebury Trout646.378.2960zlockshin@soleburytrout.com

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  • 2 “Strong Buy” Stocks Insiders Are Snapping Up

    One strategy for selecting top stocks is to track insider transactions. After all, if insiders are dipping into their own pockets you can imagine it’s because they believe the stock looks compelling. A Harvard study revealed that insider purchases earn “abnormal” returns of more than 6% per year. The authors of the study conclude that insider buyers “have a good feel for near-term developments within their firm.” The advantage of following these insiders isn’t just that they are privy to data which the rest of us don’t necessarily know – it’s also that they are held responsible for their decisions. Company officers can’t just make trading choices based on personal preference or profit. They must account for their choices to board members and shareholders – and that audience wants to make money, too. So, when corporate insiders start buying up stock in their own company, it’s a strong signal for investors. Bearing this in mind, we used the Insiders’ Hot Stocks tool from TipRanks to point us in the direction of “Strong Buy” stocks the insiders are snapping up. We found two names flashing signs of strong insider buying that warrant a closer look. Epizyme (EPZM) We’ll start with Epizyme, a clinical stage biotechnology company focused on the development of novel epigenetic medicines designed to specifically target the genetic causes of various cancers, including non-Hodgkin lymphoma (NHL) and certain genetically defined solid tumors. The company’s flagship product, tazemetostat, was approved last year for use as a monotherapy in two indications: epithelioid sarcoma, and non-Hodgkin lymphoma. The company is also planning several clinical trials to measure tazemetostat’s efficacy as a combination drug against NHL and several solid tumor cancers, including some types of prostate cancer. Having a marketable drug approved and available for prescription is the goal of every biotech pharma company – so Epizyme has achieved a major milestone with tazemetostat. The drug, marketed as Tazverik, brought in net revenues of $4.5 million in 4Q20, slightly more than half of the company’s quarterly revenue total of $8.4 million. For the full year 2020, the company’s top line came in at $15.8 million; Tazverik’s share was $11.5 million. Looking at the pipeline, Epizyme has upcoming Phase 1b studies of Tazverik in the treatment of castration-resistant prostate cancer. This study is already fully enrolled, and the initial safety and activity data is expected to come in 2H21. Additional studies of Tazverik in the treatment of heme and solid tumors are slated to begin later this year. Turning to the inside trades, we note that David Mott, of Epizyme’s Board of Directors, made a purchase of $500,099 in EPZM shares. He made the purchase, totaling 62,717 shares, in three tranches on March 25 and 26. His display of confidence gets the backing of Wedbush's David Nierengarten. The 5-star analyst rates EPZM an Outperform (i.e. Buy), and his $27 price target implies a robust upside of 212% in the coming year. (To watch Niergarten’s track record, click here) “[We] are encouraged by the progress EPZM made with marketing Tazverik for the first year. After the challenges of the pandemic environment recede, we expect more rapid adoption in the clinic. EPZM is also looking to partner the marketing of Tazverik abroad. EPZM has a strong cash position with runway into 2023," Nierengarten commented. Overall, it’s clear that Wall Street generally agrees with Nierengarten on this one. There are 8 recent reviews of this stock, and they break down strongly – by 6 to 2 – in favor of Buy versus Hold, giving EPZM its Strong Buy analyst consensus rating. The share are trading for $8.66, and their $18.67 average price target suggests a one-year upside of ~116%. (See EPZM stock analysis on TipRanks) Verrica Pharmaceuticals (VRCA) Next up is Verrica, a dermatology-focused therapeutics company working on new treatments and medical interventions for a wide range of skin conditions. The company has three drug candidates in the pipeline – V-102, V-103, and LTX-315. Of these, the latter two are in the pre-IND process with the FDA, while the first, V-102, is waiting for an FDA approval as a treatment for molluscum contagiosum. V-102’s NDA is actually a resubmission; the process was started last year, and the FDA send a CRL in July. Verrica resubmitted the NDA in December, and expects acceptance later this year, and the PDUFA date for this application is June 23. Molluscum contagiosum affects some 6 million people in the US, so the patient base for an effective treatment is there. In the meantime, the company is pursuing two additional studies of V-102, as a treatment for common warts and external genital warts. Verrica priced a public offering of stock on March 25, offering over 2 million shares at $14.75 each. And that brings us to the insider purchase. Board member Paul Manning, who is also a 10% owner of the company, picked up over 739,000 shares, paying more than $10.91 million. Turning to the analyst community, H.C. Wainwright, Oren Livnat believes the company has a lot going for it and a bright future. “We see high probability of final approval and believe Verrica more than likely has satisfactorily addressed the items in the prior Complete Response Letter, which necessitated a minor device design update, and additional Human Factors and stability work. We believe FDA should be keen to approve a properly regulated cantharidin product, given all that is available now is poorly regulated, compounded volatile product, and there is nothing approved to treat MC," Livnat wrote. The analyst added, "Assuming approval, Verrica hopes to launch by end-August. We continue to project a modest ramp through 2022 as Verrica implements an innovative forward-deployed inventory model… [we] continue to project peak sales of about $375M.” In line with these comments, Livnat rates VRCA shares as a Buy, with a $24 price target to indicates a 58% upside on the one-year horizon. (To watch Livnat’s track record, click here) There are only two recent reviews on record for Verrica – but both of them are to Buy the stock, making the Moderate Buy rating unanimous. VRCA is priced at $15.04, with an average price target of $23.33 suggesting a 55% one-year upside potential. (See VRCA stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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  • Verrica Announces Election of Gary Goldenberg, MD, Verrica’s Chief Medical Officer, to Membership in the American Dermatological Association

    WEST CHESTER, Pa., March 29, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (Verrica) (NASDAQ: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that Gary Goldenberg, M.D., Verrica’s Chief Medical Officer, has been elected as an active member into the American Dermatological Association (ADA). “We congratulate Gary on his well-deserved election into the ADA, one of the highest honors in dermatology,” said Ted White, Verrica’s President and Chief Executive Officer. “The ADA is the oldest and most prestigious dermatological society in the U.S. and its members are recognized leaders in dermatology research, education, organizational medicine, and patient care. Gary’s election into the ADA is a testament to his significant contributions to dermatology, and we are proud to have Gary on Verrica’s executive leadership team.” Founded in 1876, the ADA was the first national dermatological society in the United States. The ADA’s mission is to recognize, discuss and develop solutions for problems in the area of dermatologic health care, research and education. In the execution of its enduring mission, the ADA has been responsible for the development of a number of dermatologic organizations including the American Academy of Dermatology, the Society for Investigative Dermatology, and the American Board of Dermatology. Membership in the ADA is achieved through nomination and election based on meritorious contributions to the field of medicine and dermatology. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. FOR MORE INFORMATION, PLEASE CONTACT: Investors:A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@troutgroup.com Media:Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Announces Pricing of Public Offering of Common Stock

    WEST CHESTER, Pa., March 22, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (Verrica) (NASDAQ: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced the pricing of its underwritten public offering of 2,033,899 shares of its common stock at a price to the public of $14.75 per share. In addition, Verrica has granted to the underwriters a 30-day option to purchase up to 305,084 additional shares of common stock at the public offering price, less the underwriting discount. The gross proceeds from the offering to Verrica are expected to be approximately $30.0 million, before deducting underwriting discounts and commissions and offering expenses, but excluding any exercise of the underwriters’ option. The offering is expected to close on or about March 25, 2021, subject to customary closing conditions. Jefferies LLC, Cowen and Company, LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. A shelf registration statement relating to this offering was filed with the Securities and Exchange Commission (SEC) on March 13, 2020 and declared effective by the SEC on March 25, 2020. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or by email at equityprospectus@rbccm.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. Forward-Looking Statements Any statements in this press release about future expectations, plans and prospects for Verrica Pharmaceuticals Inc., including statements about Verrica’s public offering related to expected gross proceeds and anticipated closing date, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all and such other factors as are set forth in the risk factors detailed in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2020 and other filings Verrica makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent Verrica’s views as of the date hereof. Verrica anticipates that subsequent events and developments will cause Verrica’s views to change. However, while Verrica may elect to update these forward-looking statements at some point in the future, Verrica specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Verrica’s views as of any date subsequent to the date hereof. FOR MORE INFORMATION, PLEASE CONTACT: Investors:A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@troutgroup.com Media:Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Announces Proposed Public Offering of Common Stock

    WEST CHESTER, Pa., March 22, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that it intends to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. All of the shares of common stock to be sold in the offering will be offered by Verrica. Verrica also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering on the same terms and conditions. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. Jefferies LLC, Cowen and Company, LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. A shelf registration statement relating to the shares of common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on March 13, 2020 and declared effective by the SEC on March 25, 2020. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or by email at equityprospectus@rbccm.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. Forward-Looking Statements Any statements in this press release about future expectations, plans and prospects for Verrica Pharmaceuticals Inc., including statements about Verrica’s anticipated public offering and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all and such other factors as are set forth in the risk factors detailed in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2020 and other filings Verrica makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent Verrica’s views as of the date hereof. Verrica anticipates that subsequent events and developments will cause Verrica’s views to change. However, while Verrica may elect to update these forward-looking statements at some point in the future, Verrica specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Verrica’s views as of any date subsequent to the date hereof. FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William Windham Solebury Trout646.378.2946wwindham@troutgroup.com Media: Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Announces Exclusive Licensing Agreement With Torii Pharmaceutical Co., Ltd. To Develop and Commercialize VP-102 For Molluscum and Common Warts in Japan

    - Torii to make upfront payment of $11.5 million to Verrica in addition to other potential milestone payments of up to $58 million and, if marketed in Japan, tiered transfer price payments as a percentage of net sales - WEST CHESTER, Pa., March 17, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (Verrica) (NASDAQ: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, announced today that it has entered into a License Agreement with Torii Pharmaceutical Co., Ltd. (Torii) granting Torii an exclusive license to develop and commercialize Verrica’s product candidates for the treatment of molluscum contagiosum and common warts in Japan, including Verrica’s lead product candidate VP-102, which is currently under U.S. Food and Drug Administration (FDA) review for the treatment of molluscum, with a PDUFA goal date of June 23, 2021.“We are pleased to partner with Torii and expand VP-102, which could potentially be the first product approved in the United States to treat molluscum, to global markets. The prevalence of molluscum contagiosum alone in Japan was approximately 1.6 million cases in 2017,” said Ted White, Verrica’s President and Chief Executive Officer. “We believe Torii has the expertise and commercial infrastructure to develop and commercialize VP-102 in Japan and successfully bring VP-102 to patients with molluscum and common warts. We look forward to embarking on this partnership.”“We are excited to partner with Verrica and add VP-102 to Torii’s growing portfolio of products to treat dermatologic skin diseases with significant unmet need,” said Goichi Matsuda, Torii’s Representative Director, President and Chief Executive Officer. “VP-102 has the potential to alleviate the burden of molluscum and common warts for patients in Japan. We look forward to partnering with Verrica and developing VP-102 for the Japanese market.”In August 2020 Verrica entered into an Option Agreement with Torii granting Torii an exclusive option to acquire an exclusive license to develop and commercialize Verrica’s product candidates for the treatment of molluscum and common warts in Japan, including VP-102. Torii exercised its option to acquire the exclusive license on March 2, 2021. Under the terms of the License Agreement, Torii will make an up-front payment of $11.5 million and up to an additional $58 million in aggregate payments contingent on achievement of specified development, regulatory, and sales milestones, in addition to tiered transfer price payments for supply of product in the percentage range of the mid-30s to the mid-40s of net sales. Torii is responsible for all development activities and costs in support of obtaining regulatory approval in Japan.About VP-102Verricaʼs lead product candidate, VP-102, is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin (0.7% w/v) delivered via a single-use applicator that allows for precise topical dosing and targeted administration. VP-102 is currently under U.S. Food and Drug Administration (FDA) review and could potentially be the first product approved by the FDA to treat molluscum contagiosum ― a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts.About Verrica Pharmaceuticals Inc.Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, visit www.verrica.com.Forward-Looking Statement Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to the potential approval of the NDA for VP-102 and the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved, the clinical development of Verrica’s VP-102 for additional indications and Verrica’s other product candidates, and the potential payments and benefits to Verrica of the license agreement with Torii. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.FOR MORE INFORMATION, PLEASE CONTACT:Investors:A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.comWilliam WindhamSolebury Trout646.378.2946wwindham@soleburytrout.comMedia:Zara LockshinSolebury Trout646.378.2960zlockshin@soleburytrout.com

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  • Verrica Pharmaceuticals Reports Fourth Quarter and Full-Year 2020 Financial Results

    – FDA accepts resubmitted NDA for VP-102 for the treatment of molluscum contagiosum with PDUFA goal date of June 23, 2021 – – Verrica Announces Torii Pharmaceutical Has Exercised Option to Acquire Exclusive License Agreement to Develop and Commercialize VP-102 in Japan Triggering 60-Day Period to Finalize and Execute License Agreement – WEST CHESTER, Pa., March 04, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced financial results for the fourth quarter ended December 31, 2020. “Over the past year, we worked rapidly to resubmit the NDA for our lead product candidate, VP-102, in molluscum contagiosum, which we recently announced has been accepted for filing and assigned a PDUFA goal date of June 23, 2021,” said Ted White, Verrica’s President and Chief Executive Officer. “We are excited to announce today that Torii Pharmaceutical Co., Ltd. has exercised the option we granted to them in August to develop and commercialize VP-102 in Japan for the treatment of molluscum contagiosum and common warts. The prevalence of molluscum contagiosum alone in Japan was approximately 1.6 million cases in 2017. The option exercise triggers a 60-day period for Torii and us to finalize and execute a license agreement. Further, new analyses of Verrica’s pivotal Phase 3 molluscum trials and Verrica’s Phase 2 study in external genital warts continue to generate positive results, which have been published in medical journals and presented at top dermatology conferences.” Business Highlights and Recent Developments The Company recently announced that its resubmitted New Drug Application (NDA) for VP-102 (cantharidin 0.7% Topical Solution), a proprietary topical therapy for the treatment of molluscum, has been accepted for filing by the U.S. Food and Drug Administration (FDA). The Prescription Drug User Fee Act (PDUFA) goal date assigned by the FDA for this NDA is June 23, 2021.On March 2, Torii Pharmaceutical Co., Ltd. (Torii) exercised its option to acquire an exclusive license to develop and commercialize Verrica’s product candidates for the treatment of molluscum contagiosum and common warts in Japan, including VP-102. The parties have 60 days from the option exercise date to finalize and execute a license agreement. Under the terms of the Option Agreement, the license agreement would provide for Torii to make an up-front payment of $11.5 million, up to an additional $58 million in aggregate payments contingent on achievement of specified development, regulatory, and sales milestones, and tiered transfer price payments for supply of product in the percentage range of the mid-30s to the mid-40s of net sales. Torii would be responsible for all development activities and costs in support of obtaining regulatory approval in Japan. Clinical Program Results Verrica announced positive topline results from its Phase 2 CARE-1 clinical study of VP-102 in external genital warts (EGW). VP-102 achieved positive results on both the primary endpoint of complete clearance of all treatable EGW at Day 84 and the secondary endpoint of the percentage reduction of EGW at Day 84.Positive data from new post-hoc pooled analyses of the pivotal Phase 3 CAMP trials, segmenting molluscum lesions by body region and study visit, were presented in poster format online for the 2021 Winter Clinical Dermatology Conference. The results demonstrated that the percentage of participants with complete clearance of all baseline and new molluscum lesions was statistically significantly higher in the VP-102 group compared to vehicle across all body regions, beginning at earlier timepoints and continuing through the end of study visit (Day 84).Positive data from Verrica’s Phase 2 CARE-1 clinical study of VP-102 in EGW were also presented at the 2021 Winter Clinical Dermatology Conference. Results demonstrated that treatment with VP-102 resulted in a statistically significantly higher complete clearance rate of all EGW compared to vehicle at Visit 4 (Day 63) and at the End of Treatment Visit (Day 84) regardless of drug exposure duration (6 or 24 hours).Positive results from the Phase 2, open-label study evaluated the safety, efficacy, systemic exposure, and impact on quality of life (QoL) with treatment using VP-102 for the treatment of molluscum were published online in the January 2021 issue of the Journal of Drugs in Dermatology.Positive pooled results from the Company’s two pivotal Phase 3 CAMP studies evaluating VP-102 in children and adults with molluscum were published in the online February 2021 issue of the American Journal of Clinical Dermatology. Financial Results Fourth Quarter 2020 Financial Results Verrica reported a net loss of $13.0 million for the fourth quarter of 2020, compared to a $7.6 million net loss for the same period in 2019.Research and development expenses were $2.3 million in the fourth quarter of 2020, compared to $4.0 million for the same period in 2019. The decrease was primarily attributable to decreased costs related to Verrica’s development of VP-102 for common warts and external genital warts and VP-103 for plantar warts, partially offset by increased costs related to the resubmission of the NDA for VP-102 in December 2020.General and administrative expenses were $9.8 million in the fourth quarter of 2020, compared to $4.0 million for the same period in 2019. The increase was primarily a result of higher stock-based compensation costs, which includes $4.8 million of stock-based compensation expense recorded in December 2020 related to the modification of a stock award to a former executive. The increase was also driven by expenses related to increased headcount, an increase in insurance, professional fees and other operating costs, and an increase in expenses related to pre-commercial activities for VP-102. Full Year 2020 Financial Results Verrica reported a net loss of $42.7 million for the year ended December 31, 2020, compared to a $28.2 million net loss for the same period in 2019.Research and development expenses were $15.7 million for the year ended December 31, 2020, compared to $15.4 million for the same period in 2019. The increase was primarily attributable to increased Chemistry, Manufacturing and Controls (CMC) costs related to Verrica’s development of VP-102 for molluscum contagiosum and increased compensation costs, partially offset by decreased clinical costs related to Verrica’s development of VP-102 for molluscum contagiosum.General and administrative expenses were $24.5 million for the year ended December 31, 2020, compared to $14.6 million for the same period in 2019. The increase was primarily a result of higher stock-based compensation costs, which includes $4.8 million of stock-based compensation expense recorded in December 2020 related to the modification of a stock award to a former executive. The increase was also driven by expenses related to increased headcount, an increase in insurance, professional fees and other operating costs, and an increase in expenses related to pre-commercial activities for VP-102.As of December 31, 2020, Verrica had aggregate cash, cash equivalents, and marketable securities of $65.5 million, which the Company believes will be sufficient to support planned operations at least into the first quarter of 2022. About VP-102 Verricaʼs lead product candidate, VP-102, is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin (0.7% w/v) delivered via a single-use applicator that allows for precise topical dosing and targeted administration. VP-102 is currently under U.S. Food and Drug Administration (FDA) review, with a PDUFA goal date of June 23, 2021, and could potentially be the first product approved by the FDA to treat molluscum contagiosum ― a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts. About Molluscum Contagiosum (Molluscum) There are currently no FDA-approved treatments for molluscum, a highly contagious viral skin disease that affects approximately six million people — primarily children — in the United States. Molluscum is caused by a pox virus that produces distinctive raised, skin-toned-to-pink-colored lesions that can cause pain, inflammation, itching and bacterial infection. It is easily transmitted through direct skin-to-skin contact or through fomites (objects that carry the disease like toys, towels or wet surfaces) and can spread to other parts of the body or to other people, including siblings. The lesions can be found on most areas of the body and may carry substantial social stigma. Without treatment, molluscum can last for an average of 13 months, and in some cases, up to several years. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, visit www.verrica.com. Forward-Looking Statements Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to the potential approval of the NDA for VP-102 and the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved, the clinical development of Verrica’s VP-102 for additional indications and Verrica’s other product candidates, the potential entry into a license agreement with Torii and the terms of such license agreement, and Verrica’s cash, cash equivalents and marketable securities being sufficient to support planned operations at least into the first quarter of 2022. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise. VERRICA PHARMACEUTICALS INC.Condensed Statements of Operations(unaudited, in thousands except share and per share data) Three Months Ended December 31, Twelve Months Ended December 31, 2020 2019 2020 2019 Operating expenses: Research and development $2,272 $3,972 $15,673 $15,436 General and administrative 9,761 4,018 24,508 14,644 Total operating expenses 12,033 7,990 40,181 30,080 Loss from operations (12,033) (7,990) (40,181) (30,080)Interest income 48 354 521 1,877 Interest expense (991) - (3,033) - Other expense (1) (1) (1) (4)Net loss $(12,977) $(7,637) $(42,694) $(28,207)Net loss per share, basic and diluted $(0.52) $(0.31) $(1.71) $(1.13)Weighted average common shares outstanding, basic and diluted 25,062,817 24,922,080 24,995,556 24,897,889 VERRICA PHARMACEUTICALS INC.Selected Balance Sheet Data(unaudited, in thousands) December 31, 2020 December 31, 2019 Cash, cash equivalents and marketable securities $65,470 $62,017 Total assets 74,154 68,424 Debt, net 35,315 — Total liabilities 41,168 3,409 Total stockholders’ equity 32,986 65,015 FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@troutgroup.com Media: Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Announces Participation in the H.C. Wainwright Annual Global Life Sciences Conference

    WEST CHESTER, Pa., March 03, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that Ted White, Verrica President and CEO, will present a business overview at the H.C. Wainwright Annual Global Life Sciences Conference, taking place March 9-10, 2021. A pre-recorded presentation will be available for on-demand access beginning at 7:00 a.m. ET on Tuesday, March 9, 2021. Participants may access a webcast of the event through the following link:https://journey.ct.events/view/920684dd-5942-496a-9960-f3619118a62d. The webcast can also be accessed in the Investors/Presentations & Events section of the Verrica website at www.verrica.com. The webcast replay will be available shortly after conclusion of the event for 30 days. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum, common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, visit www.verrica.com. FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@troutgroup.com Media: Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Announces Participation in the Cowen 41st Annual Health Care Conference

    WEST CHESTER, Pa., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that Ted White, Verrica President and CEO, will present a business overview at the Cowen 41st Annual Health Care Conference on Tuesday, March 2, 2021, at 11:50 a.m. ET. Participants may access a live webcast of the event through the following link: https://wsw.com/webcast/cowen81/vrca/1949628. The webcast can also be accessed in the Investors/Presentations & Events section of the Verrica website at www.verrica.com. The webcast replay will be available shortly after conclusion of the event for 30 days. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum contagiosum (molluscum), common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, Visit www.verrica.com. FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@troutgroup.com Media: Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Announces FDA Filing Acceptance of Resubmitted New Drug Application for VP-102 for the Treatment of Molluscum Contagiosum

    - PDUFA goal date assigned is June 23, 2021 - - VP-102 (cantharidin 0.7% Topical Solution) could potentially be the first FDA-approved treatment for molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children - WEST CHESTER, Pa., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that its resubmitted New Drug Application (NDA) for VP-102 (cantharidin 0.7% Topical Solution), a proprietary topical therapy for the treatment of molluscum contagiosum (molluscum), has been accepted for filing by the U.S. Food and Drug Administration (FDA). The Prescription Drug User Fee Act (PDUFA) goal date assigned by the FDA for this NDA is June 23, 2021. Verrica previously submitted an NDA for VP-102 for the treatment of molluscum in September 2019. As previously announced, the FDA issued a Complete Response Letter requesting additional Chemistry, Manufacturing and Controls (CMC) information as well as Human Factors validation in July 2020. Verrica resubmitted the NDA for VP-102 for the treatment of molluscum on December 23, 2020. “This is an exciting time for Verrica as we work with the FDA to continue to move VP-102 through the regulatory process,” said Ted White, President and Chief Executive Officer, Verrica. “We believe that VP-102 is well-positioned to become the first FDA-approved product for the treatment of molluscum and could potentially bring relief to the millions of children diagnosed with this highly contagious disease.” The NDA is based on positive results from two identical Phase 3 randomized, double-blind, multicenter clinical trials (CAMP-1 and CAMP-2) that evaluated the safety and efficacy of VP-102 compared to placebo in patients two years of age and older diagnosed with molluscum. In both trials, a clinically and statistically significant number of patients treated with VP-102 met the primary endpoint of complete clearance of all treatable molluscum lesions. VP-102 was well-tolerated in both trials, with no serious adverse events reported in VP-102-treated subjects. About VP-102 Verricaʼs lead product candidate, VP-102, is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin (0.7% w/v) delivered via a single-use applicator that allows for precise topical dosing and targeted administration. VP-102 is currently under U.S. Food and Drug Administration (FDA) review and could potentially be the first product approved by the FDA to treat molluscum contagiosum ― a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts. About Molluscum Contagiosum (Molluscum) There are currently no FDA-approved treatments for molluscum, a highly contagious viral skin disease that affects approximately six million people — primarily children — in the United States. Molluscum is caused by a pox virus that produces distinctive raised, skin-toned-to-pink-colored lesions that can cause pain, inflammation, itching and bacterial infection. It is easily transmitted through direct skin-to-skin contact or through fomites (objects that carry the disease like toys, towels or wet surfaces) and can spread to other parts of the body or to other people, including siblings. The lesions can be found on most areas of the body and may carry substantial social stigma. Without treatment, molluscum can last for an average of 13 months, and in some cases, up to several years. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum contagiosum (molluscum), common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, Visit www.verrica.com. Forward-Looking Statements Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to the potential approval of the NDA for VP-102 and the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise. FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@troutgroup.com Media: Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Presents Positive Data From Clinical Studies Evaluating the Safety and Efficacy of VP-102 in Molluscum and External Genital Warts at the 2021 Winter Clinical Dermatology Conference

    - In new post hoc analyses of the Phase 3 molluscum trials segmenting molluscum lesions by body region and study visit, the percentage of participants with complete clearance of all baseline and new molluscum lesions was statistically significantly higher in the VP-102 group than vehicle across all body regions, beginning at earlier timepoints and continuing through the end of study visit (Day 84) - In the Phase 2 CARE-1 study of VP-102 in external genital warts, treatment with VP-102 resulted in a statistically significantly higher complete clearance rate of all EGW compared to vehicle at Visit 4 (Day 63) and at the End of Treatment Visit (Day 84) regardless of drug exposure duration (6 or 24 hours) WEST CHESTER, Pa., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced the presentation of positive data from post-hoc pooled analyses of the pivotal Phase 3 CAMP trials evaluating the safety and efficacy of VP-102, Verrica’s lead product candidate, in molluscum contagiosum (molluscum) in specific body regions at each visit. The data were presented in poster format online for the 2021 Winter Clinical Dermatology Conference. “We are pleased to present further positive data supporting VP-102 as a potentially safe and efficacious treatment for molluscum,” said Gary Goldenberg, M.D., Chief Medical Officer at Verrica. “VP-102, our lead candidate, continues to demonstrate positive results as we advance development of the program in molluscum, external genital warts and common warts, three of the largest unmet needs in medical dermatology.” Results showed that VP-102-treated participants with lesions in the upper extremities, head/neck, back/buttocks, and chest/abdomen at baseline showed statistically significantly higher rates of complete clearance in those regions compared to vehicle beginning after the first treatment (Visit 2; Day 21) through the EOS visit. VP-102-treated participants with lesions in the lower extremities at baseline showed statistically significantly higher complete clearance rates compared to vehicle-treated participants beginning after two treatments (Visit 3; Day 42) through the EOS visit (Day 84). The incidence of adverse events was similar in all body regions. Data were also presented from Verrica’s Phase 2 CARE-1 clinical study of VP-102 in external genital warts (EGW). Results showed that treatment with VP-102 resulted in a statistically significantly higher complete clearance rate of all EGW compared to vehicle at Visit 4 (Day 63) and at the End of Treatment Visit (Day 84) regardless of drug exposure duration (6 or 24 hours). Incidence of adverse events were primarily mild to moderate and similar across VP-102 drug exposure groups. The presentations are available on the Publications section of Verrica’s website at www.Verrica.com. About VP-102 Verricaʼs lead product candidate, VP-102, is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin (0.7% w/v) delivered via a single-use applicator that allows for precise topical dosing and targeted administration. VP-102 is currently under U.S. Food and Drug Administration (FDA) review and could potentially be the first product approved by the FDA to treat molluscum contagiosum ― a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts. About Molluscum Contagiosum (Molluscum) There are currently no FDA-approved treatments for molluscum, a highly contagious viral skin disease that affects approximately six million people — primarily children — in the United States. Molluscum is caused by a pox virus that produces distinctive raised, skin-toned-to-pink-colored lesions that can cause pain, inflammation, itching and bacterial infection. It is easily transmitted through direct skin-to-skin contact or through fomites (objects that carry the disease like toys, towels or wet surfaces) and can spread to other parts of the body or to other people, including siblings. The lesions can be found on most areas of the body and may carry substantial social stigma. Without treatment, molluscum can last for an average of 13 months, and in some cases, up to several years. About Genital Warts Genital warts (also known as anogenital warts or condyloma acuminatum) are a sexually transmitted viral infection caused by multiple different types of the human papilloma virus (HPV). Approximately 500,000 to 1 million cases of EGW are newly diagnosed per year in the United States, with clinically apparent warts presenting in 1% of the sexually active population. HPV is spread through direct skin-to-skin contact, usually during oral, genital, or anal sexual contact with an infected partner. Diagnosis of genital warts is usually made by visual inspection and can be confirmed by biopsy. The four morphologic types of genital warts are cauliflower-shaped, smooth papular, keratotic, and flat. Genital warts cause few symptoms but can occasionally be painful. Conditions known to predispose women to infection with HPV include local trauma, diabetes, and immuno-suppression. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum contagiosum (molluscum), common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, Visit www.verrica.com. Forward-Looking Statements Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to the potential approval of the NDA for VP-102, the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved, and the potential benefits of VP-102 for the treatment of EGW. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise. FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian DavisChief Financial Officer484.453.3300 ext. 103info@verrica.com William WindhamSolebury Trout646.378.2946wwindham@troutgroup.com Media: Zara LockshinSolebury Trout646.378.2960zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Announces Resubmission of New Drug Application for VP-102 for the Treatment of Molluscum Contagiosum

    WEST CHESTER, Pa., Dec. 23, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that it has resubmitted the New Drug Application (NDA) for VP-102 for the treatment of molluscum contagiosum (molluscum) to the U.S. Food and Drug Administration (FDA). The NDA for VP-102 was resubmitted based on the outcome and final minutes of a Type A meeting with the FDA, which was conducted to obtain clarity on the Complete Response Letter (CRL) issued by the FDA in July 2020.  “We are pleased that we were able to expeditiously provide a comprehensive resubmission of the NDA focused on the Chemistry, Manufacturing and Controls (CMC) information as well as Human Factors validation identified by the FDA in its Complete Response Letter,” said Ted White, President and Chief Executive Officer, Verrica. “We look forward to working with the FDA through the review process, and if approved, bringing VP-102 to patients as the first FDA-approved treatment option for molluscum.”About VP-102Verricaʼs lead product candidate, VP-102, is a proprietary drug-device combination that contains a GMP-controlled formulation of cantharidin (0.7% w/v) delivered via a single-use applicator that allows for precise topical dosing and targeted administration. VP-102 is currently under U.S. Food and Drug Administration (FDA) review and could potentially be the first product approved by the FDA to treat molluscum contagiosum ― a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts.About Molluscum Contagiosum (Molluscum)There are currently no FDA-approved treatments for molluscum, a highly contagious viral skin disease that affects approximately six million people — primarily children — in the United States. Molluscum is caused by a pox virus that produces distinctive raised, skin-toned-to-pink-colored lesions that can cause pain, inflammation, itching and bacterial infection. It is easily transmitted through direct skin-to-skin contact or through fomites (objects that carry the disease like toys, towels or wet surfaces) and can spread to other parts of the body or to other people, including siblings. The lesions can be found on most areas of the body and may carry substantial social stigma. Without treatment, molluscum can last for an average of 13 months, and in some cases, up to several years.About Verrica Pharmaceuticals Inc.Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s late-stage product candidate, VP-102, is in development to treat molluscum contagiosum (molluscum), common warts and external genital warts, three of the largest unmet needs in medical dermatology. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. The Company has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize LTX-315 for dermatologic oncology conditions. For more information, visit www.verrica.com.Forward-Looking StatementsAny statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to its interactions and communications with the FDA, the potential approval of the NDA for VP-102 following resubmission and the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.FOR MORE INFORMATION, PLEASE CONTACT:Investors:A. Brian Davis Chief Financial Officer 484.453.3300 ext. 103 info@verrica.comWilliam Windham Solebury Trout 646.378.2946 wwindham@troutgroup.comMedia:Zara Lockshin Solebury Trout 646.378.2960 zlockshin@troutgroup.com

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  • Here is What Hedge Funds Think About Verrica Pharmaceuticals Inc. (VRCA)

    The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

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  • Verrica Pharmaceuticals Announces Receipt of Final FDA Minutes Following Type A Meeting Regarding Resubmission of the NDA for VP-102 in Molluscum

    \- Verrica reaffirms expectation to resubmit its New Drug Application for VP-102 for the treatment of molluscum in the first quarter of 2021 -WEST CHESTER, Penn., Nov. 17, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that it has received the final meeting minutes from the U.S. Food and Drug Administration (FDA) following the Company’s recent Type A meeting to discuss the steps required for resubmission of the New Drug Application (NDA) for VP-102 for the treatment of molluscum contagiosum (molluscum). VP-102 is a first-in-class, proprietary drug-device combination for the treatment of molluscum, a viral skin disease affecting approximately six million people, primarily children, in the United States. There are currently no FDA-approved treatments for molluscum. In July, the Company announced that it had received a Complete Response Letter from the FDA requesting additional Chemistry, Manufacturing and Controls (CMC) information as well as Human Factors validation.“We are encouraged by our productive discussion with the FDA and the FDA’s written meeting minutes, which reflect alignment on the steps to address the CMC issues raised in the CRL as well as the path forward for resubmission of the NDA and the potential approval of VP-102 to treat patients with molluscum,” said Ted White, President and Chief Executive Officer, Verrica. “In addition, our Human Factors study protocol has been reviewed by the FDA and we are preparing to complete that study by the end of the year. We are pleased to reaffirm our expectation to resubmit the NDA for VP-102 pursuant to the statutory 505(b)(1) regulatory pathway in the first quarter of 2021.”This news follows Verrica’s recent announcement of positive results for VP-102 for the treatment of external genital warts (EGW) in the Phase 2 CARE-1 trial. As previously announced, Verrica intends to request an End-of-Phase 2 meeting with the FDA for VP-102 in EGW in the first quarter of 2021.About Verrica Pharmaceuticals Inc.Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. The Company’s late-stage product candidate, VP-102, is a potential first-in-class drug-device combination product containing a topical therapy for the treatment of molluscum contagiosum. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts. The Company is also developing VP-103, its third cantharidin-based product candidate, for the treatment of plantar warts. Verrica submitted an NDA for VP-102 for the treatment of molluscum in September 2019. A Complete Response Letter was received from the FDA regarding the NDA for VP-102 on July 13, 2020. In October 2020, Verrica participated in a Type A meeting with the FDA. Verrica expects to resubmit its New Drug Application for VP-102 for the treatment of molluscum in the first quarter of 2021. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. For more information, visit www.verrica.com.Forward-Looking StatementsAny statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to its interactions and communications with the FDA, the timing for its resubmission of the NDA for VP-102 in the first quarter of 2021, the potential approval of the NDA for VP-102 following resubmission, the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved, and the potential benefits and clinical development plan for VP-102 for the treatment of EGW. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.FOR MORE INFORMATION, PLEASE CONTACT:Investors:A. Brian Davis Chief Financial Officer 484.453.3300 ext. 103 info@verrica.comWilliam Windham Solebury Trout 646.378.2946 wwindham@troutgroup.comMedia:Zara Lockshin Solebury Trout 646.378.2960 zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Announces Participation in the Jefferies Virtual London Healthcare Conference

    WEST CHESTER, Pa., Nov. 12, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that Ted White, Verrica President and CEO, will present a business overview at the Jefferies Virtual London Healthcare Conference on Tuesday, November 17, 2020, at 2:55 p.m. ET. A live webcast of the event can be accessed in the Investors/Presentations & Events section of the Verrica website at http://www.verrica.com. The webcast replay will be available shortly after conclusion of the event for 30 days. About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. The Company’s late-stage product candidate, VP-102, is a potential first-in-class drug-device combination product containing a topical therapy for the treatment of molluscum contagiosum. Verrica submitted an NDA for VP-102 for the treatment of molluscum in September 2019. A Complete Response Letter was received from the FDA regarding the NDA for VP-102 on July 13, 2020. In October 2020, Verrica participated in a Type A meeting with the FDA. Verrica expects to resubmit its New Drug Application for VP-102 for the treatment of molluscum in the first quarter of 2021. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts. The Company is also developing VP-103, its third cantharidin-based product candidate, for the treatment of plantar warts. For more information, visit www.verrica.com.FOR MORE INFORMATION, PLEASE CONTACT:Investors:A. Brian Davis Chief Financial Officer 484.453.3300 ext. 103 info@verrica.comWilliam Windham Solebury Trout 646.378.2946 wwindham@troutgroup.comMedia:Zara Lockshin Solebury Trout 646.378.2960 zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Announces Positive Topline Results in Phase 2 Clinical Study of VP-102 in Patients with External Genital Warts (CARE-1)

    \- 35% of subjects treated with VP-102 achieved complete clearance of all treatable genital warts vs 2.4% for vehicle (p=0.0001) - \- VP-102 was well-tolerated with no reported serious adverse events related to VP-102 -\- Approximately 500,000 to 1 million cases of EGW are newly diagnosed per year in the United States -\- Based on positive outcome, Verrica will request an End-of-Phase 2 meeting with the FDA -WEST CHESTER, Pa., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (Verrica) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced positive topline results from its Phase 2 CARE-1 clinical study of VP-102, a novel topical therapy containing a solution of 0.7% (w/v) cantharidin in a proprietary single-use applicator, in external genital warts (EGW). VP-102 achieved positive results on both the primary endpoint of complete clearance of all treatable EGW at Day 84 and the secondary endpoint of the percentage reduction of EGW at Day 84.“The positive results of the Phase 2 CARE-1 trial suggest that VP-102 has the potential to provide patients and physicians with a well-tolerated and effective option for treatment,” said Gary Goldenberg, MD, Chief Medical Officer of Verrica. “Based on the positive outcome from CARE-1, we intend to request an End-of-Phase 2 meeting with the FDA for the treatment of EGW in the first quarter of 2021.”“EGW, otherwise known as condyloma acuminata, are one of the most common sexually-transmitted infections in the U.S., often resulting in substantial social stigma, negative impact on quality of life, and an increased risk of HPV-related cervical cancer,” said Neal Bhatia, MD, Director of Clinical Dermatology at Therapeutics Clinical Research in San Diego. “Undertreatment of EGW presents an interdisciplinary public health issue, as patients often seek treatment from a variety of sources including dermatologists, urologists, gynecologists, and primary care physicians. Newer medical therapeutic advances may offer more tolerable and effective approaches to controlling the spread of EGW and therefore can improve outcomes for these patients.”CARE-1 was a Phase 2, double-blind, vehicle-controlled clinical study of VP-102 to determine the dose regimen, efficacy, safety, and tolerability of VP-102 in subjects with EGW in subjects 18 years of age or older. The study included two sequential parts: Part A and Part B. Part A was conducted in 18 subjects at four research sites. Subjects received treatment with VP-102 to treatable EGW every 21 days for up to four treatments and were told to wash off VP-102 within either 2, 6, or 24 hours of application. Safety results from Part A supported use of VP-102 for both 6-hour and 24-hour treatment exposures in Part B.Part B was conducted in an additional 87 subjects at nine research sites comparing vehicle to VP-102 applied for either 6 or 24 hours for up to four treatments. The primary analyses were conducted at Day 84. Topline analyses included data from the assessment of EGW at study visits at days 21, 42, 63, and 84.Study Results and Demographics: * Subjects presented with a mean wart count of 8.2 with a range of 2 to 30 EGW at baseline. Approximately 50% of subjects had EGW for one year or longer; approximately 23% of subjects had EGW for more than five years. * Pooled results from the 6- and 24-hour treatment exposures showed 35.1% (20/57) of subjects treated with VP-102 achieved complete clearance of all treatable EGW at Day 84 compared to 2.4% (1/42) of subjects treated with vehicle (p=0.0001). * For both the 6- and 24-hour treatment exposures, subjects treated with VP-102 achieved statistically significantly larger reductions in percent change from baseline in the number of treatable EGW compared to vehicle at Day 84: 6-hour (p< 0.0001), 24-hour group (p=0.0003). * VP-102 was well-tolerated. Side effects experienced by the VP-102 treated subjects were consistent with the pharmacodynamic action of cantharidin as a blistering agent. These side effects were primarily mild-to-moderate and included application site vesicles, pain and erythema. No subjects discontinued from the study due to adverse events and there were no serious adverse events reported that were considered related to treatment by the investigator.In addition to requesting an End-of-Phase 2 meeting with the FDA on next steps for the development of VP-102 for the treatment of EGW, Verrica plans to submit the Phase 2 CARE-1 data for presentation at future medical meetings and for publication in a peer-reviewed medical journal.About Genital Warts Genital warts (also known as anogenital warts or condyloma acuminatum) are a sexually transmitted viral infection caused by multiple different types of the human papilloma virus (HPV). Approximately 500,000 to 1 million cases of EGW are newly diagnosed per year in the United States, with clinically apparent warts presenting in 1% of the sexually active population (Yanofsky 2012 Clinical and Aesthetic Dermatol). HPV is spread through direct skin-to-skin contact, usually during oral, genital, or anal sexual contact with an infected partner. Diagnosis of genital warts is usually made by visual inspection and can be confirmed by biopsy. The four morphologic types of genital warts are cauliflower-shaped, smooth papular, keratotic, and flat. Genital warts cause few symptoms but can occasionally be painful. Conditions known to predispose women to infection with HPV include local trauma, diabetes, and immuno-suppression.About Verrica Pharmaceuticals Inc. Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. The Company’s late-stage product candidate, VP-102, is a potential first-in-class drug-device combination product containing a topical therapy for the treatment of molluscum contagiosum. Verrica submitted an NDA for VP-102 for the treatment of molluscum in September 2019. A Complete Response Letter was received from the FDA regarding the NDA for VP-102 on July 13, 2020. In October 2020, Verrica participated in a Type A meeting with the FDA. Verrica expects to resubmit its New Drug Application for VP-102 for the treatment of molluscum in the first quarter of 2021. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts. The Company is also developing VP-103, its third cantharidin-based product candidate, for the treatment of plantar warts. For more information, visit www.verrica.com.Forward-Looking Statement Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to the potential benefits and clinical development plan for VP-102 for the treatment of EGW, Verrica’s interactions and communications with the FDA, and the potential approval of VP-102 to treat EGW, common warts and molluscum. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.FOR MORE INFORMATION, PLEASE CONTACT:Investors:A. Brian Davis Chief Financial Officer 484.453.3300 ext. 103 info@verrica.comWilliam Windham Solebury Trout 646.378.2946 wwindham@troutgroup.comMedia:Zara Lockshin Solebury Trout 646.378.2960 zlockshin@troutgroup.com

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  • Verrica Pharmaceuticals Reports Third Quarter 2020 Financial Results

    \- Verrica completes Type A meeting and expects to resubmit its New Drug Application for VP-102 for the treatment of molluscum in the first quarter of 2021 -WEST CHESTER, Penn., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced financial results for the third quarter ended September 30, 2020.“We are encouraged by our recent Type A meeting with the FDA in which we discussed the steps required for resubmission of the NDA for VP-102, our lead product candidate, for the treatment of molluscum,” said Ted White, Verrica’s President and Chief Executive Officer. “We have also received feedback from the FDA on our Human Factors study protocol, and believe we have clear alignment on the path forward to resubmit the NDA, which we anticipate in the first quarter of 2021. In addition, we have continued to engage with Torii as they evaluate the option to exclusively license VP-102 in Japan for the treatment of molluscum contagiosum and common warts. We also strategically expanded our product portfolio into dermatologic cancers, with an initial focus on non-melanoma skin cancers, one of the most common disease states in dermatology.”Business Highlights and Recent Developments * In October 2020, Verrica participated in a Type A meeting with the FDA to discuss issues raised in the Complete Response Letter for the NDA for VP-102 for the treatment of molluscum. Verrica expects to receive the minutes from the meeting in the coming weeks, followed by resubmission of the NDA pursuant to the statutory 505(b)(1) regulatory pathway in the first quarter of 2021. * The positive results from the Company’s two pivotal Phase 3 CAMP studies evaluating the safety and efficacy of VP-102 in children and adults with molluscum were published in the Journal of the American Medical Association (JAMA) Dermatology on September 23, 2020. The results were previously presented at the 2019 American Academy of Dermatology (AAD) annual meeting in a late-breaking oral presentation. * In August 2020, Verrica was granted a United States utility patent (US 10,745,413) protecting synthetic methods for manufacturing cantharidin. Also in August 2020, a U.S. design patent application protecting the design of Verrica’s VP-102 applicator device received an allowance from the United States Patent and Trademark Office (USPTO). The resulting United States design patent (US D900,312) was granted in October 2020. Financial ResultsThird Quarter 2020 Financial Results * Verrica reported a net loss of $10.5 million for the third quarter of 2020, compared to a $6.1 million net loss for the same period in 2019. * Research and development expenses were $5.0 million in the third quarter of 2020, compared to $3.0 million for the same period in 2019. The increase was primarily attributable to increased CMC (Chemistry, Manufacturing, and Controls) costs related to Verrica’s development of VP-102 for molluscum contagiosum and increased compensation costs, partially offset by decreased clinical costs related to Verrica’s development of VP-102 for molluscum contagiosum, external genital warts, and common warts. * General and administrative expenses were $4.6 million in the third quarter of 2020, compared to $3.5 million for the same period in 2019. The increase was primarily a result of expenses related to increased headcount, an increase in insurance, professional fees and other operating costs, and an increase in expenses related to pre-commercial activities for VP-102. Year-to-Date September 2020 Financial Results * Verrica reported a net loss of $29.7 million for the nine months ended September 30, 2020, compared to a $20.6 million net loss for the same period in 2019. * Research and development expenses were $13.4 million for the nine months ended September 30, 2020, compared to $11.5 million for the same period in 2019. The increase was primarily attributable to increased CMC costs related to Verrica’s development of VP-102 for molluscum contagiosum and increased compensation costs, partially offset by decreased clinical costs related to Verrica’s development of VP-102 for molluscum contagiosum. * General and administrative expenses were $14.7 million for the nine months ended September 30, 2020, compared to $10.6 million for the same period in 2019. The increase was primarily a result of expenses related to increased headcount, an increase in insurance, professional fees and other operating costs, and an increase in expenses related to pre-commercial activities for VP-102. * As of September 30, 2020, Verrica had aggregate cash, cash equivalents, and marketable securities of $71.9 million, which the Company believes will be sufficient to support planned operations at least through the fourth quarter of 2021.About Verrica Pharmaceuticals Inc.Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. The Company’s late-stage product candidate, VP-102, is a potential first-in-class topical therapy for the treatment of molluscum contagiosum. Verrica submitted an NDA for VP-102 for the treatment of molluscum in September 2019. A Complete Response Letter was received from the FDA regarding the NDA for VP-102 on July 13, 2020. In October 2020, Verrica participated in a Type A meeting with the FDA. Verrica expects to resubmit its New Drug Application for VP-102 for the treatment of molluscum in the first quarter of 2021. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and is currently conducting a Phase 2 study of VP-102 for the treatment of external genital warts. The Company is also developing VP-103, its third cantharidin-based product candidate, for the treatment of plantar warts. For more information, visit www.verrica.com.Forward-Looking StatementAny statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to its interactions and communications with the FDA, the timing for its resubmission of the NDA for VP-102 in the first quarter of 2021, the potential approval of the NDA for VP-102 following resubmission, potential payments by Torii under the Option Agreement should Torii exercise its opinion and the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.VERRICA PHARMACEUTICALS INC. Condensed Statements of Operations (unaudited, in thousands except share and per share data)  Three Months Ended September 30,  Nine Months Ended September 30,    2020  2019  2020  2019  Operating expenses:                 Research and development $4,988  $3,049  $13,401  $11,464  General and administrative  4,649   3,494   14,747   10,626                    Total operating expenses  9,637   6,543   28,148   22,090                    Loss from operations  (9,637)  (6,543)  (28,148)  (22,090) Interest income  69   453   473   1,523  Interest expense  (918)  -   (2,042)  -  Other expense  -   -   -   (3)                   Net loss $(10,486) $(6,090) $(29,717) $(20,570)                   Net loss per share, basic and diluted $(0.42) $(0.24) $(1.19) $(0.83)                   Weighted average common shares outstanding, basic and diluted  24,988,939   24,893,036   24,972,972   24,875,589                    VERRICA PHARMACEUTICALS INC. Selected Balance Sheet Data (unaudited, in thousands)  September 30, 2020  December 31, 2019 Cash, cash equivalents and marketable securities $71,881  $62,017 Total assets  79,936   68,424 Debt, net  34,980   — Total liabilities  40,754   3,409 Total stockholders’ equity  39,182   65,015          FOR MORE INFORMATION, PLEASE CONTACT:Investors:A. Brian Davis Chief Financial Officer 484.453.3300 ext. 103 info@verrica.comWilliam Windham Solebury Trout 646.378.2946 wwindham@troutgroup.comMedia:Zara Lockshin Solebury Trout 646.378.2960 zlockshin@troutgroup.com

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  • JAMA Dermatology Publishes Results from Verrica’s Two Pivotal Phase III CAMP (Cantharidin Application in Molluscum Patients) Trials

    WEST CHESTER, Pa., Sept. 23, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that positive results from the two pivotal Phase III CAMP (Cantharidin Application in Molluscum Patients [CAMP-1 and CAMP-2]) studies evaluating the safety and efficacy of VP-102 in children and adults with molluscum were published in the Journal of the American Medical Association (JAMA) Dermatology. The CAMP studies evaluated a topical application of VP-102, a propriety drug-device combination containing cantharidin 0.7% (w/v) in a shelf-stable formulation, in over 500 children and adults with molluscum at 31 treatment sites. Treatment with VP-102 demonstrated superior results compared to vehicle in the percentage of participants with complete clearance of molluscum lesions at the end of the trial (day 84). In CAMP-1, 46% of participants treated with VP-102 achieved complete clearance of molluscum lesions compared to 18% of participants in the vehicle group (p<0.001); in CAMP-2, 54% of participants treated with VP-102 achieved complete clearance of molluscum lesions compared to 13% of participants in the vehicle group (p<0.001). VP-102 was well-tolerated in both trials, with no serious adverse events reported in VP-102 treated subjects. The results were previously presented at the 2019 American Academy of Dermatology (AAD) annual meeting in a late-breaking oral presentation.“Publication in JAMA Dermatology is a significant achievement for our company and highlights the robust body of data supporting the potential of VP-102 as a safe and effective topical therapy for molluscum, a viral skin infection for which there are no FDA-approved treatments,” commented Ted White, Verrica President and CEO. “We are proud to advance the field of medical dermatology by completing the first large-scale, randomized controlled trials evaluating cantharidin with a consistent formulation, dosing schedule, and method of application for the treatment of molluscum. Compounded cantharidin is associated with the treatment of molluscum, but patients and physicians do not currently have access to a proven safe and standardized formulation. VP-102 has the potential to be the first product in commercial development to enable consistent and safe application of topical cantharidin. We look forward to potentially bringing VP-102 therapy to the millions of molluscum patients, primarily children, who are in need of a safe and effective FDA-approved treatment.”The published article, “Safety and Efficacy of VP-102, a Proprietary, Drug-Device Combination Product Containing Cantharidin, 0.7% (w/v), in Children and Adults with Molluscum Contagiosum,” can be accessed on the JAMA Dermatology website and the Publications section of the Verrica website at www.verrica.com.About Verrica Pharmaceuticals Inc.Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. The Company’s late-stage product candidate, VP-102, is a potential first-in-class topical therapy for the treatment of molluscum contagiosum. Verrica submitted an NDA for VP-102 for the treatment of molluscum in September 2019. A Complete Response Letter was received from the FDA regarding the NDA for VP-102 on July 13, 2020. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and is currently conducting a Phase 2 study of VP-102 for the treatment of external genital warts. The Company is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. For more information, visit www.verrica.com.Forward-Looking StatementAny statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include expectations regarding the Company’s expectations with regard to its interactions and communications with the FDA, the potential approval of the NDA for VP-102 following resubmission, and the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, Verrica’s reliance on third parties over which it may not always have full control, uncertainties related to the COVID-19 pandemic and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, Verrica’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: FOR MORE INFORMATION, PLEASE CONTACT: Investors: A. Brian Davis Chief Financial Officer 484.453.3300 ext. 103 info@verrica.com William Windham Solebury Trout 646.378.2946 wwindham@troutgroup.com Media: Zara Lockshin Solebury Trout 646.378.2960 zlockshin@troutgroup.com

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  • Novan Inc. and Verrica Pharmaceuticals Participate in Virtual Panel to Discuss Developing Treatments for Molluscum Contagiosum on SNN Network

    LOS ANGELES, CA / ACCESSWIRE / September 22, 2020 / SNN Network, The Official Small-, Micro- and Nano-Cap News Source™, today published a new Virtual Panel, titled, "The Pursuit of Molluscum: Beetlejuice and Nobel Prizes", hosted by John Vandermosten, Senior Biotech Analyst at Zack's Small Cap Research.

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  • SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Verrica Pharmaceuticals Inc. - VRCA

    Pomerantz LLP is investigating claims on behalf of investors of Verrica Pharmaceuticals Inc. ("Verrica" or the "Company") (NASDAQ: VRCA). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

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