Verrica Pharmaceuticals Stock Price, News & Analysis

Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) announces that its President and CEO, Ted White, will participate in a fireside chat at The Cowen 43rd Annual Health Care Conference in Boston, MA, on March 6, 2023, from 2:50 PM to 3:20 PM ET. A live webcast of the event will be accessible via the provided link and on Verrica's website. The company is focused on dermatology therapeutics, with key products like VP-102 and VP-103 aimed at treating significant skin conditions, including warts. Verrica has also secured a worldwide license with Lytix Biopharma AS for developing VP-LTX-315 for dermatologic oncology. More details are available on their official website.

Verrica Pharmaceuticals (Nasdaq: VRCA) announced that the FDA has accepted its resubmitted New Drug Application (NDA) for VP-102, aimed at treating molluscum contagiosum, a contagious skin condition impacting around 6 million people in the U.S., mainly children.

The assigned PDUFA goal date is July 23, 2023. VP-102 is designed for targeted delivery of cantharidin, and positive results from two Phase 3 trials support its efficacy and safety. The drug could potentially be the first approved treatment for molluscum contagiosum, meeting a significant unmet medical need.

Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) has priced an underwritten offering of 750,000 shares of common stock at $6.75 each and pre-funded warrants for 4,064,814 shares at $6.7499 each, aiming for gross proceeds of approximately $32.5 million. The offering, led by a healthcare dedicated fund, is anticipated to close by February 23, 2023, subject to customary conditions. Jefferies LLC is the sole book-runner. The offering is part of a previously effective shelf registration statement filed with the SEC.

Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) has resubmitted the New Drug Application (NDA) for VP-102, aiming to become the first FDA-approved treatment for molluscum contagiosum, affecting over 6 million patients in the U.S., primarily children. This resubmission addresses previous deficiencies highlighted in the Complete Response Letter received last year. VP-102, a topical drug-device combination with 0.7% cantharidin, is designed for precise application. The company also completed Phase 2 studies for treating common and external genital warts. If approved, VP-102 may be marketed as YCANTH™.

Verrica Pharmaceuticals (Nasdaq: VRCA) has successfully completed the technology transfer of bulk solution manufacturing for its lead product candidate, VP-102, to Piramal Pharma Solutions. This includes the successful manufacture of registration batch materials now placed on stability, along with three process validation batches. The company anticipates resubmitting its New Drug Application (NDA) for VP-102, aimed at treating molluscum contagiosum, in Q1 2023. VP-102 could become the first FDA-approved treatment for this highly contagious skin disease affecting approximately six million people in the U.S.

Verrica Pharmaceuticals reported third-quarter 2022 financial results, recognizing $8.3 million in license revenues, with a net income of $83,000 or $0.00 per share, a significant improvement from a net loss of $12.8 million a year prior. The company successfully transferred bulk material production to Piramal Pharma Solutions and is on track to resubmit the NDA for VP-102 for molluscum contagiosum in Q1 2023. R&D expenses decreased to $2.9 million, down from $3.8 million in Q3 2021, while G&A expenses also saw a decline to $3.9 million from $8.0 million.

Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) announced that President and CEO Ted White will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 14, 2022, at 3:30 p.m. ET. The event emphasizes Verrica's focus on dermatology therapeutics, particularly the late-stage product candidate VP-102, which aims to treat molluscum contagiosum and other skin conditions. Additionally, Verrica has secured a worldwide license agreement with Lytix Biopharma AS for LTX-315 targeting dermatologic oncology.

Verrica Pharmaceuticals held a Type A meeting with the FDA regarding the resubmission of its NDA for VP-102, aimed at treating molluscum contagiosum. The company has started collaborating with Piramal Pharma Solutions for bulk solution production and plans to resubmit the NDA in Q1 2023. Verrica raised approximately $28.5 million from a public offering. In Q2 2022, the company reported net losses of $10.2 million and recognized license revenues of $0.2 million, compared to no revenue in Q2 2021. Cash reserves as of June 30, 2022, total $54.4 million, expected to support operations into Q3 2023.

Verrica Pharmaceuticals announced an $8 million milestone payment from Torii Pharmaceutical after the first patient was dosed in Japan's Phase 3 trial of VP-102 for molluscum contagiosum. The prevalence of this skin disease in Japan is around 1.6 million cases annually. Torii holds the exclusive rights to develop and commercialize VP-102 in Japan, having previously made upfront payments of $12 million, with an additional $58 million tied to milestones. VP-102 is poised to be the first FDA-approved treatment for molluscum in the U.S., targeting an estimated six million people affected.