Company raised $75 million, which will be used to fund a phase 3 study for its treatment of skin infections.
Pennsylvania-based Verrica Pharmaceuticals is focused on developing and commercializing novel dermatological treatments. Its lead candidate is VP-102, a proprietary topical therapy applied directly to skin lesions. It is being developed for the treatment of a number of common skin indications including molluscum contagiosum and verruca vulgaris (common warts). The company currently has two on-going phase 3 trials in patients with molluscum contagiosum.
Recently Verrica completed a successful IPO, raising $75 million (at $15/share) with its entry onto the Nasdaq listing ($VRCA). Approximately $61 million will be spent on VP-102 and its use for the treatment of molluscum contagiosum, taking the candidate through the final stages of clinical development, regulatory filing and hopefully commercialization. Another $12 million will be invested in its program for the treatment of common warts. The remainder could be invested in its preclinical candidate VP-103 or potentially pipeline expansion via the in-licensing of other candidates.
