Verrica Pharmaceuticals Stock Price, News & Analysis

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.

Verrica Pharmaceuticals (NASDAQ: VRCA) announced a public offering of 12 million shares at $2.10 each, projected to yield approximately $25.2 million before expenses. The underwriter, RBC Capital Markets, has the option to acquire an additional 1.8 million shares within 30 days. The offering is set to close around July 5, 2022, pending customary conditions. Verrica specializes in dermatological therapies, focusing on unmet medical needs, particularly with its product candidates VP-102 and VP-103, which target molluscum and warts.

Verrica Pharmaceuticals (Nasdaq: VRCA) announced plans for an underwritten public offering of its common stock, subject to market conditions. The offering includes a potential 30-day option for underwriters to purchase an additional 15% of the shares. RBC Capital Markets is the sole book-runner for the offering. This follows the effective shelf registration statement filed with the SEC on March 25, 2020. The offering aims to raise capital for developing dermatology therapeutics, including its late-stage candidate VP-102 for treating skin diseases.

Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) held a Type A meeting with the FDA on June 27, 2022, to discuss the NDA resubmission for VP-102, aimed at treating molluscum contagiosum. The company expressed satisfaction with the FDA's collaborative approach regarding stability data and post-approval options. VP-102 could become the first FDA-approved treatment for this contagious skin disease affecting six million people, primarily children. In addition, VP-102 has completed Phase 2 studies for common and external genital warts, highlighting Verrica's commitment to dermatological needs.