Welcome to our dedicated page for Verrica Pharmaceuticals news (Ticker: VRCA), a resource for investors and traders seeking the latest updates and insights on Verrica Pharmaceuticals stock.
Verrica Pharmaceuticals Inc., headquartered in West Chester, Pennsylvania, is a clinical-stage medical dermatology company dedicated to developing and commercializing innovative treatments for skin diseases. Founded in 2013, the company’s primary focus is on addressing unmet needs in dermatology through unique product candidates. Its lead product, YCANTH™ (cantharidin), is the first FDA-approved treatment for molluscum contagiosum, a highly contagious viral skin infection that primarily affects children.
The company’s flagship product, VP-102, is developed for the treatment of molluscum contagiosum and is currently in development for the treatment of common warts and external genital warts. VP-102 has successfully completed a Phase II clinical trial for common warts and a Phase I trial for genital warts. The innovative formulation of cantharidin in VP-102 provides precise topical dosing, making it a safe and effective solution for these conditions.
Verrica is also advancing another cantharidin-based product, VP-103, aimed at treating plantar warts. Furthermore, the company has a worldwide license agreement with Lytix Biopharma AS to develop and commercialize VP-315 (formerly LTX-315 and VP-LTX-315) for dermatologic oncology indications, including non-melanoma skin cancers such as basal cell carcinoma and squamous cell carcinoma.
In addition to its product development efforts, Verrica emphasizes strong partnerships and intellectual property strategies. The company has also recently amended its licensing agreement with Torii Pharmaceutical Co. Ltd. to jointly conduct a global pivotal Phase 3 clinical trial for common warts. This collaboration highlights Verrica’s commitment to expanding its product reach and addressing significant dermatological needs worldwide.
Verrica’s financial health is bolstered by its ongoing commercial operations and strategic agreements. The company’s recent achievements include securing a permanent J-code for YCANTH™ and receiving New Chemical Entity (NCE) status from the FDA, which grants a minimum of five years of regulatory exclusivity. These milestones are pivotal in driving the commercial success and adoption of YCANTH™ in the market.
For additional information and updates on Verrica Pharmaceuticals Inc., including recent news and investor relations, visit their website at www.verrica.com.
Verrica Pharmaceuticals announced that the FDA issued a Complete Response Letter (CRL) for its NDA for VP-102, intended for treating molluscum contagiosum. The CRL cites deficiencies related to Sterling Pharmaceuticals' OAI status, although no issues with VP-102 manufacturing were reported. While FDA's review of the NDA was completed, the agency cannot communicate the label until Sterling's status is resolved. Verrica is exploring options to address the OAI classification and may engage an alternative supplier. The firm is committed to FDA collaboration and plans to request a Type A meeting shortly.
Verrica Pharmaceuticals (Nasdaq: VRCA) announced its Q1 2022 financial results, highlighting significant developments as it prepares for the potential FDA approval of VP-102, with a PDUFA goal date of May 24, 2022, for treating molluscum. The company reported license revenues of $0.4 million, a decrease from $12 million in Q1 2021, alongside a GAAP net loss of $8.5 million or $0.31 per share. Research and development expenses fell to $2.7 million, while cash reserves totaled $61.9 million, projected to sustain operations into Q3 2022.
Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) announced participation of CEO Ted White in the 21st Annual Needham Virtual Healthcare Conference on April 14, 2022, at 3:00 p.m. ET. Investors can access a live webcast of the event through the provided link or on Verrica's website, with a replay available for 30 days post-event. The company focuses on developing treatments for dermatological conditions, including its leading candidate VP-102 for molluscum and warts, and VP-103 for plantar warts. Additionally, Verrica holds a licensing agreement with Lytix Biopharma for LTX-315.
Verrica Pharmaceuticals (Nasdaq: VRCA) announced the dosing of the first patient in its Phase 2 trial of LTX-315, an innovative oncolytic peptide targeting basal cell carcinoma (BCC). With 3-4 million BCC diagnoses annually in the U.S., the trial aims to provide a non-surgical treatment option, addressing a significant unmet medical need. The study will evaluate safety and efficacy in approximately 66 adult subjects. LTX-315 has shown promising immune responses in earlier trials and could potentially expand to treat squamous cell carcinoma in the future.
Verrica Pharmaceuticals (Nasdaq: VRCA) reported a net loss of $9.5 million for Q4 2021, down from $13.0 million in Q4 2020. Full-year net loss was $35.1 million or $1.30 per share, compared to $42.7 million or $1.71 per share in 2020. The company recognized $12 million in license revenues for 2021. Research and development expenses rose to $3.4 million in Q4 2021, mainly due to increased manufacturing costs. Upcoming milestones include a PDUFA date of May 24, 2022, for VP-102 and a Phase 2 trial for LTX-315 in basal cell carcinoma set to begin in early 2022.
Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) announced that President and CEO Ted White will participate in a fireside chat at the 42nd Annual Cowen Virtual Healthcare Conference on March 9, 2022, at 11:10 a.m. ET. The event will be accessible via a live webcast, and a replay will be available for 30 days post-event. Verrica focuses on developing dermatology therapeutics, including its late-stage product candidate, VP-102, aimed at treating molluscum and common warts, and VP-103 for plantar warts. The company has also licensed LTX-315 for dermatologic oncology.
Verrica Pharmaceuticals (Nasdaq: VRCA) announced that the FDA accepted its resubmitted New Drug Application (NDA) for VP-102, targeting the treatment of molluscum contagiosum. The FDA granted a Prescription Drug User Fee Act (PDUFA) goal date of May 24, 2022. VP-102 aims to be the first FDA-approved treatment for this highly contagious skin disease affecting approximately six million people in the U.S., particularly children. The resubmission includes limited changes, and the company is optimistic about the demand for an effective treatment.
Verrica Pharmaceuticals (Nasdaq: VRCA) has resubmitted the New Drug Application (NDA) for VP-102, aimed at treating molluscum contagiosum, to the FDA. This resubmission addresses deficiencies noted in the Complete Response Letter from September 2021, including inspection issues and user interface recommendations. CEO Ted White anticipates a 2-month review period, with a potential launch of VP-102 as the first FDA-approved treatment for this viral skin disease affecting six million people, primarily children, in the U.S. annually.
Verrica Pharmaceuticals (Nasdaq: VRCA) announced the FDA's acceptance of its IND application for LTX-315, a novel oncolytic peptide for treating basal cell carcinoma, a prevalent form of skin cancer. The Phase 2 trial is expected to begin in Q1 2022. With over 5 million non-melanoma skin cancer diagnoses annually in the U.S., LTX-315 aims to offer a non-surgical treatment option. The drug shows promise in inducing immune responses against tumors and aims to improve patient outcomes compared to current surgical options.
Verrica Pharmaceuticals (Nasdaq: VRCA) reported its third quarter financial results, revealing a net loss of $12.8 million, or $0.47 per share, compared to a loss of $10.5 million, or $0.42 per share, in Q3 2020. The company has received satisfactory resolution on deficiencies at a contract manufacturing organization from the FDA, allowing them to proceed with the approval process for VP-102, targeting molluscum contagiosum. Additionally, Verrica is advancing LTX-315 for basal cell carcinoma, submitting an IND, and expects to start a Phase 2 trial in early 2022.
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