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– Secured $55 actor in non-dilutive accommodation facilities, of which $35 actor was adopted aloft closing –



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– Connected to adapt for abeyant U.S. approval of VP-102 for the assay of molluscum contagiosum –



– Arising of Letters Apparent directed to the Composition, Methods and Systems for the Assay of Cutaneous Disorders by the Japan Apparent Office –

WEST CHESTER, Pa., May 07, 2020 (GLOBE NEWSWIRE) — Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a dermatology assay aggregation developing medications for viral bark diseases acute medical interventions, today appear banking after-effects for the aboriginal division concluded March 31, 2020.



“During the aboriginal division of 2020, we fabricated several important advancements in our business, accepting $55 actor in non-dilutive accommodation accessories and accepting a cantharidin conception apparent in Japan that will bolster the address of our accumulation alternation and aggrandize admission to all-around markets,” said Ted White, President and Chief Executive Officer of Verrica. “We additionally connected to adapt for the abeyant U.S. approval of VP-102, our artefact applicant that could be the aboriginal FDA-approved assay for molluscum contagiosum. If approved, VP-102 would be marketed in the United States beneath the conditionally accustomed cast name YCANTH™. We admit that these are aberrant times and our top antecedence in administering all business is the bloom and assurance of our advisers as able-bodied as patients and healthcare providers.”

Business Highlights and Recent Developments

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First Division Banking Results

About Verrica Pharmaceuticals Inc.

Verrica is a dermatology assay aggregation developing medications for viral bark diseases acute medical interventions. The Company’s late-stage artefact candidate, VP-102, is a abeyant first-in-class contemporary analysis for the assay of molluscum contagiosum (molluscum) and accustomed warts. Molluscum is a awful catching viral bark infection affecting about six actor people, primarily children, in the United States, and accustomed warts are catching bark growths affecting 22 actor people. There are currently no FDA-approved treatments for molluscum or accustomed warts. Following absolute topline after-effects from two cardinal Phase 3 trials, the Aggregation submitted an NDA on September 13, 2019 for VP-102 for the assay of molluscum; on November 26, 2019, the Aggregation accustomed apprehension that the FDA accustomed the NDA for filing, with a Prescription Biologic User Fee Act (PDUFA) ambition date of July 13, 2020. If approved, VP-102 will be marketed in the United States beneath the conditionally accustomed cast name YCANTH™. Verrica has completed a Phase 2 analytic balloon analytic balloon of VP-102 for the assay of verruca vulgaris, or accustomed warts and, in ablaze of the COVID-19 pandemic, intends to barrage two Phase 3 analytic trials back altitude are appropriate. VP-102 is additionally currently in a Phase 2 balloon for the assay of alien animal warts. The Aggregation is administering all-important preclinical activities for VP-103, its added cantharidin-based artefact candidate, and, in ablaze of the COVID-19 pandemic, intends to barrage a Phase 2 analytic balloon in capacity with plantar warts back altitude are appropriate. For added information, visit www.verrica.com.

Forward-Looking Statement

Any statements independent in this columnist absolution that do not call absolute facts may aggregate advanced statements as that appellation is authentic in the Private Balance Litigation Reform Act of 1995. These statements may be articular by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and agnate expressions, and are based on Verrica’s accepted behavior and expectations. These advanced statements accommodate expectations apropos the abeyant allowances and abeyant approval of YCANTH™ for the assay of molluscum, the analytic development of artefact candidates for added indications, including accustomed warts, alien animal warts and plantar warts, and the Company’s adeptness to armamentarium its operations through the added division of 2021 with its absolute cash, banknote equivalents and bankable securities. These statements absorb risks and uncertainties that could account absolute after-effects to alter materially from those reflected in such statements. Risks and uncertainties that may account absolute after-effects to alter materially accommodate uncertainties inherent in the biologic development action and the authoritative approval process, Verrica’s assurance on third parties over which it may not consistently accept abounding control, uncertainties accompanying to the COVID-19 communicable and added risks and uncertainties that are declared in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the U.S. Balance and Exchange Commission on March 13, 2020, Verrica’s Quarterly Report on Form 10-Q for the division concluded March 31, 2020, and added filings Verrica makes with the U.S. Balance and Exchange Commission. Any advanced statements allege alone as of the date of this columnist absolution and are based on advice accessible to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, amend any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.

VERRICA PHARMACEUTICALS INC.Statements of Operations(unaudited, in bags except allotment and per allotment data)

VERRICA PHARMACEUTICALS INC.Selected Balance Sheet Data(unaudited, in thousands)

FOR MORE INFORMATION, PLEASE CONTACT:

Investors:

A. Brian DavisChief Banking Officer484.453.3300 ext. 103info@verrica.com

Chiara RussoSolebury Trout617.221.9197crusso@troutgroup.com

Media:

Joshua R. MansbachSolebury Trout646.378.2964jmansbach@troutgroup.com

 

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