Successful IPO for Verrica Pharmaceuticals

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.

 

Cynthia A. Challener, Ph.D.

Dr. Challener is an established industry editor and technical writing expert in the areas of chemistry and pharmaceuticals. She writes for various corporations and associations, as well as marketing agencies and research organizations, including That’s Nice and Nice Insight.

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