VRCA Verrica Pharmaceuticals Inc.

10.3
+0.14  (+1%)
Previous Close 10.16
Open 10.41
52 Week Low 6.79
52 Week High 18.67
Market Cap $265,889,278
Shares 25,814,493
Float 12,321,669
Enterprise Value $208,483,248
Volume 111,091
Av. Daily Volume 70,067
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Upcoming Catalysts

Drug Stage Catalyst Date
VP-102
Molluscum contagiosum
PDUFA
PDUFA
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VP-102
Genital warts
Phase 2
Phase 2
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Drug Pipeline

Drug Stage Notes
VP-103
Plantar Warts
Phase 2
Phase 2
Phase 2 trial to be initiated mid-2020.
VP-102
Common warts
Phase 2
Phase 2
Phase 3 trial to be initiated 1H 2020.

Latest News

  1. WEST CHESTER, Pa., June 29, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced that, on June 24, 2020, the Company received a letter from the U.S. Food and Drug Administration (FDA) as part of the FDA's ongoing review of the Company's New Drug Application (NDA) for VP-102 (cantharidin 0.7% topical solution), Verrica's lead product candidate for the treatment of molluscum contagiosum. The letter states that there are deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time. The letter further states that the notification does not reflect…

    WEST CHESTER, Pa., June 29, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced that, on June 24, 2020, the Company received a letter from the U.S. Food and Drug Administration (FDA) as part of the FDA's ongoing review of the Company's New Drug Application (NDA) for VP-102 (cantharidin 0.7% topical solution), Verrica's lead product candidate for the treatment of molluscum contagiosum. The letter states that there are deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time. The letter further states that the notification does not reflect a final decision on the information under review. In a letter dated November 26, 2019, the FDA had assigned a Prescription Drug User Fee Act ("PDUFA") goal date of July 13, 2020 for completion of its review of the NDA.

    The FDA's letter does not identify any specific items. But, the Company notes that information requests from the FDA during the NDA review have focused on CMC aspects of the drug-device combination. Verrica's ability to address these CMC-related requests, however, was significantly impacted in large part by the COVID-19 pandemic. 

    The requests include, but are not limited to, a specific request related to a potential safety issue with the applicator that could arise if the instructions for use were not properly followed. In response, the Company incorporated an additional user feature into the applicator to address that issue. The addition of that user feature, however, has affected human factors testing as well as requiring additional supportive stability data on the fully assembled device incorporating such feature. The Company believes that both its long-term and registration stability data with the ampule, and the as-submitted applicator, support significant shelf life and stability for VP-102.

    The Company anticipates interactions with, and additional communication from, the FDA and intends to work with the FDA to resolve and address any items as quickly as possible. 

    Notwithstanding the pandemic or the CMC-related requests that have arisen during the review cycle, the Company believes that the positive results from its two double-blind Phase 3 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 indicates that VP-102 remains viable for FDA approval. 

    About Verrica Pharmaceuticals Inc.

    Verrica is a dermatology therapeutics company developing medications for viral 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. An NDA for VP-102 for the treatment of molluscum is currently under review by FDA and, if approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. Verrica intends to initiate a Phase 3 program of VP-102 for the treatment of common warts when conditions are appropriate, given the COVID-19 pandemic. In addition, VP-102 is being evaluated in Phase 2 study for the treatment of external genital warts. The Company is also developing VP-103, its second cantharidin-based product candidate, and intends to launch a Phase 2 study in subjects with plantar warts when conditions are appropriate. 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 potential receipt and timing of the FDA's approval of the NDA, the Company's expectations with regard to its interactions and communications with the FDA, plans and expectations related to the PDUFA date, the potential benefits and potential approval and commercialization of YCANTH™ for the treatment of molluscum, and the clinical development of product candidates for additional indications, including common warts, external genital warts and plantar warts. 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 March 31, 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

    Luke Brown

    Solebury Trout

    646.378.2944

    Media:

    Joshua R. Mansbach

    Solebury Trout

    646.378.2964

      

    Primary Logo

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  2. - Pre-specified exploratory analysis showed VP-102 brought about a statistically significant percentage of patients with complete molluscum lesion clearance across all lesion count quartiles compared to vehicle -

    - Additional post-hoc analysis showed any patient with baseline characteristics matching study protocol may be a candidate for complete lesion clearance after up to four VP-102 treatments -

    - Data presented in poster format online for the American Academy of Dermatology 2020 Annual Meeting -

    WEST CHESTER, Pa., June 12, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced…

    - Pre-specified exploratory analysis showed VP-102 brought about a statistically significant percentage of patients with complete molluscum lesion clearance across all lesion count quartiles compared to vehicle -

    - Additional post-hoc analysis showed any patient with baseline characteristics matching study protocol may be a candidate for complete lesion clearance after up to four VP-102 treatments -

    - Data presented in poster format online for the American Academy of Dermatology 2020 Annual Meeting -

    WEST CHESTER, Pa., June 12, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced the presentation of new pooled data from two analyses of the Phase 3 CAMP trials of VP-102 (cantharidin 0.7% topical solution), Verrica's lead product candidate for the treatment of molluscum contagiosum (molluscum). These data are available in poster format online by the American Academy of Dermatology for the 2020 annual meeting, which was previously scheduled for March 20-24 in Denver, Colorado.

    A pre-specified exploratory analysis of pooled data demonstrated that, regardless of lesion count, all VP-102 quartiles had statistically significantly higher percentage of patients with complete clearance of all baseline and new lesions as compared to vehicle (p<0.05), and that complete clearance rates were similar across all VP-102 quartiles.  

    In this analysis, patients treated with VP-102, across all lesion count quartiles, were similar in baseline characteristics and molluscum medical histories. Participants were segmented by baseline lesion count: Quartile 1) 1-7 lesions (n=94); Quartile 2) 8-14 lesions (n=82); Quartile 3) 15-28 lesions (n=67); and, Quartile 4) 29-184 lesions (n=68). Mean age of patients was: Quartile 1) 9.0 years; Quartile 2) 7.5 years; Quartile 3) 6.0 years; and, Quartile 4) 6.7 years. Mean time since clinical diagnosis was: Quartile 1) 134.3 days; Quartile 2) 116.8 days; Quartile 3) 121.0 days; and, Quartile 4) 118.2 days. At baseline, the percentage of patients presenting with a history of atopic dermatitis (AD), or with active AD, included: Quartile 1) 8%; Quartile 2) 7%; Quartile 3) 16%; and, Quartile 4) 19%. Selected treatment-emergent adverse events at the application site were similar across quartiles with VP-102 treatment including vesicles, pain, scab, erythema, pruritus, discoloration, dryness, edema, erosion, and scarring. 

    "These data are important, as they show that VP-102 has the potential to effectively and safely treat molluscum patients – and achieve complete clearance – regardless of the number of lesions," said Lawrence Eichenfield, MD, Chief of Pediatric and Adolescent Dermatology, Rady Children's Hospital, San Diego, CA, and principal investigator of the VP-102 Phase 3 molluscum program. "Historically, patients with high lesion counts, a group addressed in this analysis, have been challenging to treat."

    The second abstract is a post-hoc analysis in which VP-102-treated subjects were categorized by those who achieved complete lesion clearance (CC) and those who did not (NC) by the end of study visit (EOS, Day 84), to compare demographics and outcomes between the groups, and identify characteristics potentially predictive of response to treatment with VP-102. The analysis demonstrated that in patients treated with VP-102, baseline demographics and medical histories were similar between the CC group and the NC group at EOS. Safety outcomes were similar in both groups, except for application site pain and pruritus (both were higher in the NC group).  Baseline lesion count was not clinically different, and there was no difference in time since diagnosis between groups, age, gender, previous treatment, or atopic dermatitis history or status. These results demonstrated that any patient who fits the requirements of the study protocol and has similar characteristics could potentially achieve complete clearance of all baseline and new molluscum lesions after up to four treatments with VP-102.

    "These two analyses of the Phase 3 CAMP trials add to the body of evidence that supports the safety and efficacy profile of VP-102," said Ted White, President and Chief Executive Officer, Verrica. "In these analyses, we see clear evidence that regardless of how many lesions a patient has, or what their baseline characteristics may be, VP-102 has the potential to be a viable treatment option to help patients with molluscum achieve complete lesion clearance."

    About Verrica Pharmaceuticals Inc.

    Verrica is a dermatology therapeutics company developing medications for viral 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 and common warts. Molluscum is a highly contagious viral skin infection affecting approximately six million people, primarily children, in the United States, and common warts are contagious skin growths affecting 22 million people. There are currently no FDA-approved treatments for molluscum or common warts. Following positive topline results from two pivotal Phase 3 trials, the Company submitted an NDA on September 13, 2019 for VP-102 for the treatment of molluscum; on November 26, 2019, the Company received notice that the FDA accepted the NDA for filing, with a Prescription Drug User Fee Act (PDUFA) goal date of July 13, 2020. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. Verrica has completed a Phase 2 clinical trial of VP-102 for the treatment of verruca vulgaris, or common warts and, in light of the COVID-19 pandemic, intends to launch two Phase 3 clinical trials when conditions are appropriate. VP-102 is also currently in a Phase 2 trial for the treatment of external genital warts. The Company is conducting necessary preclinical activities for VP-103, its second cantharidin-based product candidate, and, in light of the COVID-19 pandemic, intends to launch a Phase 2 clinical trial in subjects with plantar warts when conditions are appropriate. 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 potential benefits and potential approval and commercialization of YCANTH™ for the treatment of molluscum, and the clinical development of product candidates for additional indications, including common warts, external genital warts and plantar warts. 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 March 31, 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

    Luke Brown

    Solebury Trout

    646.378.2944

    Media:

    Joshua R. Mansbach

    Solebury Trout

    646.378.2964

     

    Primary Logo

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  3. – Global biopharmaceutical industry veteran brings significant commercial expertise and business acumen to help advance the Company's medical dermatology portfolio –

    WEST CHESTER, Penn., June 10, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced the appointment of Diem Nguyen, Ph.D., M.B.A., to its Board of Directors.

    "The addition of Diem Nguyen to our Board brings another proven pharmaceutical industry leader, with a successful track record of product development and commercialization, to the Verrica team," said Paul B. Manning, Chairman of the Board, Verrica. "Her appointment…

    – Global biopharmaceutical industry veteran brings significant commercial expertise and business acumen to help advance the Company's medical dermatology portfolio –

    WEST CHESTER, Penn., June 10, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced the appointment of Diem Nguyen, Ph.D., M.B.A., to its Board of Directors.

    "The addition of Diem Nguyen to our Board brings another proven pharmaceutical industry leader, with a successful track record of product development and commercialization, to the Verrica team," said Paul B. Manning, Chairman of the Board, Verrica. "Her appointment puts us in a position of strength as we prepare for the potential U.S. approval and commercialization of VP-102 for the treatment of molluscum contagiosum."

    "The opportunity to work alongside the Verrica team to amplify its commercialization strategy for VP-102 and support the advancement of an innovative portfolio of medical dermatology treatments is of undeniable interest to me," said Dr. Nguyen. "I look forward to being part of the effort to broaden the reach of Verrica's portfolio for the benefit of patients and their families."

    Dr. Nguyen most recently served as Executive Vice President, Biopharma, at PPD, Inc., a leading global clinical research organization providing integrated drug development, laboratory, and lifecycle management services. Prior to joining PPD, she held various commercial leadership and general management roles at Pfizer, including Global President, Americas, Pfizer Essential Health, and Global Sterile Injectables. She also served as Pfizer's Regional President, North America, Global Established Pharma; General Manager, Global Biosimilars; and Vice President, Established Products Strategy. Prior to Pfizer, Dr. Nguyen led corporate development, including all company-wide mergers and acquisitions and investor relations at Serologicals Corporation. She received a B.A. in Chemistry from the University of Virginia, a Ph.D. in Biochemistry and Molecular Genetics from the University of Virginia, and an M.B.A. from the Darden Graduate School of Business Administration at the University of Virginia. Dr. Nguyen also currently serves as a trustee at the Children's Hospital of Philadelphia.

    About Verrica Pharmaceuticals Inc.

    Verrica is a dermatology therapeutics company developing medications for viral 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 and common warts. Molluscum is a highly contagious viral skin infection affecting approximately six million people, primarily children, in the United States, and common warts are contagious skin growths affecting 22 million people. There are currently no FDA-approved treatments for molluscum or common warts. Following positive topline results from two pivotal Phase 3 trials, the Company submitted an NDA on September 13, 2019 for VP-102 for the treatment of molluscum; on November 26, 2019, the Company received notice that the FDA accepted the NDA for filing, with a Prescription Drug User Fee Act (PDUFA) goal date of July 13, 2020. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. Verrica has completed a Phase 2 clinical trial of VP-102 for the treatment of verruca vulgaris, or common warts and, in light of the COVID-19 pandemic, intends to launch two Phase 3 clinical trials when conditions are appropriate. VP-102 is also currently in a Phase 2 trial for the treatment of external genital warts. The Company is conducting necessary preclinical activities for VP-103, its second cantharidin-based product candidate, and, in light of the COVID-19 pandemic, intends to launch a Phase 2 clinical trial in subjects with plantar warts when conditions are appropriate. 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 potential benefits and potential approval and commercialization of YCANTH™ for the treatment of molluscum, and the clinical development of product candidates for additional indications, including common warts, external genital warts and plantar warts. 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 March 31, 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

    Luke Brown

    Solebury Trout

    646.378.2944

    Media:

    Joshua R. Mansbach

    Solebury Trout

    646-378-2964

     

    Primary Logo

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  4. - Secured $55 million in non-dilutive loan facilities, of which $35 million was borrowed upon closing -

    - Continued to prepare for potential U.S. approval of VP-102 for the treatment of molluscum contagiosum -

    - Issuance of Letters Patent directed to the Composition, Methods and Systems for the Treatment of Cutaneous Disorders by the Japan Patent Office -

    WEST CHESTER, Pa., May 07, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced financial results for the first quarter ended March 31, 2020.

    "During the first quarter of 2020, we made several important advancements in our business…

    - Secured $55 million in non-dilutive loan facilities, of which $35 million was borrowed upon closing -

    - Continued to prepare for potential U.S. approval of VP-102 for the treatment of molluscum contagiosum -

    - Issuance of Letters Patent directed to the Composition, Methods and Systems for the Treatment of Cutaneous Disorders by the Japan Patent Office -

    WEST CHESTER, Pa., May 07, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced financial results for the first quarter ended March 31, 2020.

    "During the first quarter of 2020, we made several important advancements in our business, securing $55 million in non-dilutive loan facilities and obtaining a cantharidin formulation patent in Japan that will bolster the readiness of our supply chain and expand access to global markets," said Ted White, President and Chief Executive Officer of Verrica. "We also continued to prepare for the potential U.S. approval of VP-102, our product candidate that could be the first FDA-approved treatment for molluscum contagiosum. If approved, VP-102 would be marketed in the United States under the conditionally accepted brand name YCANTH™. We recognize that these are unprecedented times and our top priority in conducting all business is the health and safety of our employees as well as patients and healthcare providers."

    Business Highlights and Recent Developments

    • Secured $55 million in non-dilutive loan facilities, of which $35 million was borrowed upon closing in March 2020.
    • Issued a Letters Patent bearing Japanese Patent No. 6668240, by the Japan Patent Office. The patent issued on February 28, 2020 and will expire on August 21, 2034, twenty years from the patent application date. The issuance of this application follows the grant of a patent in Australia covering the formulation of VP-102, applicator devices and systems comprising the formulation, and methods of using VP-102. Related patent applications are currently pending in various jurisdictions around the world, including the United States, Australia, Brazil, Canada, China, Europe, Israel, India, Japan, South Korea, and Mexico.  The invention covers certain formulations containing cantharidin for the treatment of cutaneous disorders, including molluscum contagiosum and common warts.
    • Presented positive data supporting the safety and efficacy of VP-102 at the Winter Clinical Dermatology Conference. This post hoc analysis of the pooled data from the Phase 3 CAMP studies showed a statistically significantly greater percentage of complete lesion clearance in subjects with molluscum contagiosum by the end of the study (Day 84) across each body region analyzed among patients receiving VP-102, as compared to vehicle. In addition, the rates and types of adverse events were similar across body regions, including potentially sensitive areas like the head/neck and groin.

    First Quarter Financial Results

    • Verrica reported net losses of $9.8 million for the first quarter of 2020, compared to a $7.5 million net loss for the same period in 2019.
    • Research and development expenses were $4.9 million in the first quarter of 2020, compared to $4.5 million for the same period in 2019. The increase was primarily attributable to increased compensation costs and increased clinical costs related to our development of VP-102 for external genital warts, partially offset by a decrease in clinical costs related to Verrica's development of VP-102 for molluscum contagiosum. 
    • General and administrative expenses were $5.0 million in the first 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.
    • As of March 31, 2020, Verrica had aggregate cash, cash equivalents, and marketable securities of $88.4 million, which the Company believes will be sufficient to support planned operations, including expenses for the potential commercialization of the Company's lead product candidate, VP-102, as well as the ongoing development of the compound for additional indications, including common warts and external genital warts, and the development of VP-103 for plantar warts, at least through the second quarter of 2021.

    About Verrica Pharmaceuticals Inc.

    Verrica is a dermatology therapeutics company developing medications for viral 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 (molluscum) and common warts. Molluscum is a highly contagious viral skin infection affecting approximately six million people, primarily children, in the United States, and common warts are contagious skin growths affecting 22 million people. There are currently no FDA-approved treatments for molluscum or common warts. Following positive topline results from two pivotal Phase 3 trials, the Company submitted an NDA on September 13, 2019 for VP-102 for the treatment of molluscum; on November 26, 2019, the Company received notice that the FDA accepted the NDA for filing, with a Prescription Drug User Fee Act (PDUFA) goal date of July 13, 2020. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. Verrica has completed a Phase 2 clinical trial clinical trial of VP-102 for the treatment of verruca vulgaris, or common warts and, in light of the COVID-19 pandemic, intends to launch two Phase 3 clinical trials when conditions are appropriate. VP-102 is also currently in a Phase 2 trial for the treatment of external genital warts. The Company is conducting necessary preclinical activities for VP-103, its second cantharidin-based product candidate, and, in light of the COVID-19 pandemic, intends to launch a Phase 2 clinical trial in subjects with plantar warts when conditions are appropriate. 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 potential benefits and potential approval of YCANTH™ for the treatment of molluscum, the clinical development of product candidates for additional indications, including common warts, external genital warts and plantar warts, and the Company's ability to fund its operations through the second quarter of 2021 with its existing cash, cash equivalents and marketable securities. 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, filed with the U.S. Securities and Exchange Commission on March 13, 2020, Verrica's Quarterly Report on Form 10-Q for the quarter ended March 31, 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.
    Statements of Operations
    (unaudited, in thousands except share and per share data)

                   
      Three Months Ended March 31,  
      2020     2019  
                 
    Operating expenses:              
    Research and development $ 4,892     $ 4,487  
    General and administrative   4,988       3,539  
                   
    Total operating expenses   9,880       8,026  
                   
    Loss from operations   (9,880     (8,026
    Interest income   278       547  
    Interest expense   (220 )      
                   
    Net loss $ (9,822   $ (7,479
                   
    Net loss per share, basic and diluted $ (0.39   $ (0.30
                   
    Weighted average common shares outstanding, basic and diluted   24,964,167       24,857,771  
                   

    VERRICA PHARMACEUTICALS INC.
    Selected Balance Sheet Data
    (unaudited, in thousands)

               
      March 31, 2020   December 31, 2019
    Cash, cash equivalents and marketable securities $ 88,382   $ 62,017
    Total assets   94,442     68,424
    Long-term debt, net   34,434    
    Total liabilities   37,834     3,409
    Total stockholders' equity   56,608     65,015

    FOR MORE INFORMATION, PLEASE CONTACT:

    Investors:

    A. Brian Davis
    Chief Financial Officer
    484.453.3300 ext. 103

    Chiara Russo
    Solebury Trout
    617.221.9197

    Media:

    Joshua R. Mansbach
    Solebury Trout
    646.378.2964

     

    Primary Logo

    View Full Article Hide Full Article
  5. WEST CHESTER, Pa., May 06, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced that Ted White, Verrica President and CEO, will virtually present at two upcoming virtual healthcare conferences. Details for each presentation are included below:

    Bank of America Merrill Lynch Global Healthcare Conference
    Tuesday, May 12th
    4:20 PM – 4:50 PM ET

    RBC Capital Markets Global Healthcare Conference
    Tuesday, May 19th
    4:50PM – 5:15 PM ET

    Live webcasts of the presentations can be accessed at the company's Investors page under Events and Presentations at https://investors.verrica.com/events-and-presentations

    WEST CHESTER, Pa., May 06, 2020 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. ("Verrica") (NASDAQ:VRCA), a dermatology therapeutics company developing medications for viral skin diseases requiring medical interventions, today announced that Ted White, Verrica President and CEO, will virtually present at two upcoming virtual healthcare conferences. Details for each presentation are included below:

    Bank of America Merrill Lynch Global Healthcare Conference
    Tuesday, May 12th
    4:20 PM – 4:50 PM ET

    RBC Capital Markets Global Healthcare Conference
    Tuesday, May 19th
    4:50PM – 5:15 PM ET

    Live webcasts of the presentations can be accessed at the company's Investors page under Events and Presentations at https://investors.verrica.com/events-and-presentations. Webcast replays will also be available on this website shortly after conclusion of the event for 30 days.

    About Verrica Pharmaceuticals Inc.

    Verrica is a dermatology therapeutics company developing medications for viral 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 and common warts. Molluscum is a highly contagious viral skin infection affecting approximately six million people, primarily children, in the United States, and common warts are contagious skin growths affecting 22 million people. There are currently no FDA-approved treatments for molluscum or common warts. Following positive topline results from two pivotal Phase 3 trials, the Company submitted an NDA on September 13, 2019 for VP-102 for the treatment of molluscum; on November 26, 2019, the Company received notice that the FDA accepted the NDA for filing, with a Prescription Drug User Fee Act (PDUFA) goal date of July 13, 2020. If approved, VP-102 will be marketed in the United States under the conditionally accepted brand name YCANTH™. Verrica has completed a Phase 2 clinical trial clinical trial of VP-102 for the treatment of verruca vulgaris, or common warts and, in light of the COVID-19 pandemic, intends to launch two Phase 3 clinical trials when conditions are appropriate. VP-102 is also currently in a Phase 2 trial for the treatment of external genital warts. The Company is conducting necessary preclinical activities for VP-103, its second cantharidin-based product candidate, and, in light of the COVID-19 pandemic, intends to launch a Phase 2 clinical trial in subjects with plantar warts when conditions are appropriate. For more information, visit www.verrica.com.

    FOR MORE INFORMATION, PLEASE CONTACT:

    Investors:

    A. Brian Davis
    Chief Financial Officer
    484.453.3300 ext. 103

    Chiara Russo
    Solebury Trout
    617.221.9197

    Media:

    Joshua R. Mansbach
    Solebury Trout
    646-378-2964

     

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