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 (NASDAQ: VRCA) announced on September 20, 2021, that the FDA issued a Complete Response Letter (CRL) for its New Drug Application (NDA) for VP-102, aimed at treating molluscum contagiosum. While the FDA identified general quality deficiencies at the contract manufacturing organization, no specific manufacturing or clinical issues were cited for VP-102. The company remains optimistic about resolving these concerns within 30 business days, highlighting a significant unmet need for an FDA-approved treatment for the six million people affected in the U.S.
Verrica Pharmaceuticals announced its Q2 2021 financial results, showing a net loss of $11.8 million, or $0.43 per share. This reflects a wider loss compared to $9.4 million in Q2 2020. The company recognized $12 million in license revenues from its agreement with Torii Pharmaceutical, with total cash and marketable securities at $90.1 million as of June 30, 2021. Verrica is preparing for a potential launch of its lead product candidate, VP-102, aimed at molluscum contagiosum, with a PDUFA goal date set for September 23, 2021, while also expanding its commercial operations.
Verrica Pharmaceuticals (Nasdaq: VRCA) has appointed Terry Kohler as Chief Financial Officer to enhance its management team in light of the potential commercial launch of VP-102, a treatment for skin diseases. Kohler brings over 20 years of experience, most recently from a global pharmaceutical company with annual revenues exceeding $2 billion. He succeeds Brian Davis, who is leaving the company. This leadership change aims to bolster commercial preparations for the expected launch this fall, as stated by CEO Ted White.
Verrica Pharmaceuticals has announced a three-month extension of the PDUFA goal date for its New Drug Application (NDA) for VP-102, now set for September 23, 2021. This extension allows the FDA additional time to review information on Verrica's training program and distribution model, following comments on a human factors study. Despite the delay, Verrica remains confident in VP-102 as a treatment for molluscum contagiosum, especially after the FDA completed one of two required pre-approval inspections. VP-102 could become the first FDA-approved treatment for this common skin condition affecting six million U.S. children.
Verrica Pharmaceuticals (Nasdaq: VRCA) announced that CEO Ted White will present a business overview at the Jefferies Virtual Healthcare Conference on June 2, 2021, at 2:00 p.m. ET. The event can be accessed via a live webcast. Verrica specializes in dermatology therapeutics, with a focus on late-stage product candidates like VP-102 for treating molluscum, common warts, and external genital warts. Additionally, they are developing VP-103 for plantar warts and have a global licensing agreement with Lytix Biopharma to develop LTX-315 for dermatologic oncology conditions.
Verrica Pharmaceuticals (Nasdaq: VRCA) announced that President and CEO Ted White will present a business overview at the virtual 2021 RBC Capital Markets Global Healthcare Conference on May 19, 2021, at 5:25 p.m. ET. The presentation will include insights into Verrica's dermatology therapeutics, especially their late-stage product candidates, VP-102 for treating molluscum and warts, and VP-103 for plantar warts. Additionally, Verrica has a global license agreement with Lytix Biopharma for developing LTX-315 for dermatologic oncology.
Verrica Pharmaceuticals (Nasdaq: VRCA) reported its first-quarter financial results for 2021, highlighting a significant expansion and preparation for the potential FDA approval of VP-102 for molluscum, with a PDUFA goal date set for June 23, 2021. The company raised $30 million through a public offering and recognized $12 million in license revenues from its agreement with Torii Pharmaceutical for VP-102's development in Japan. The net loss narrowed to $0.9 million from $9.8 million year-over-year, with cash equivalents of $87.7 million supporting operations through mid-2023.
Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) will present a business overview at the 20th Annual Needham Virtual Healthcare Conference on April 13, 2021, at 8:45 a.m. ET. CEO Ted White will lead the presentation, which highlights Verrica's focus on dermatology therapeutics. The company is advancing VP-102 for treating molluscum and warts, and VP-103 for plantar warts. Additionally, Verrica has partnered with Lytix Biopharma to develop LTX-315 for dermatologic oncology. A live webcast and replay will be available for those unable to attend the event.
Verrica Pharmaceuticals (NASDAQ: VRCA) announced that Dr. Gary Goldenberg has been elected as an active member of the American Dermatological Association (ADA), a prestigious recognition in dermatology. CEO Ted White praised Dr. Goldenberg for his contributions to the field. The ADA, founded in 1876, aims to improve dermatologic health care and is known for its influential role in dermatological education and research. Verrica focuses on developing treatments for skin diseases, including its late-stage candidate VP-102 for molluscum and warts, and has partnered with Lytix Biopharma to develop LTX-315 for dermatologic oncology.
Verrica Pharmaceuticals (NASDAQ: VRCA) announced a public offering of 2,033,899 shares at $14.75 each, aiming for gross proceeds of approximately $30 million. Underwriters have a 30-day option for an additional 305,084 shares. The offering is set to close around March 25, 2021, pending customary conditions. Jefferies, Cowen, and RBC Capital Markets are overseeing the offering. This follows a shelf registration declared effective in March 2020. The funds will support Verrica's dermatology product development, including treatments for skin diseases.
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