Business
Verrica Pharmaceuticals Reports First Quarter 2022 Financial Results
Upcoming PDUFA date of May 24, 2022 for VP-102 NDA for the treatment of molluscum First patient dosed in Phase 2 trial of LTX-315 in basal cell carcinoma WEST
About this update from Verrica Pharmaceuticals Inc.
[{"type":"text","content":"Upcoming PDUFA date of May 24, 2022 for VP-102 NDA for the treatment of molluscum First patient dosed in Phase 2 trial of LTX-315 in basal cell carcinoma WEST CHESTER, Pa., May 09, 2022 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (Verrica) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced financial results for the first quarter ended March 31, 2022. “This quarter, we achieved commercial readiness and entered the final stage of pre-launch operations as our PDUFA date approaches for VP-102, potentially the first treatment approved by the FDA to treat molluscum,” said Ted White, Verrica’s President and Chief Executive Officer. “We look forward to potentially bringing treatment and relief to thousands of patients, primarily children, suffering from molluscum, starting with a sales focus in Dermatology, Pediatric Dermatology and key academic centers and health systems.” Mr. White continued: “We also dosed the first patient in our Phase 2 trial of LTX-315, a novel immunotherapy, in basal cell carcinoma, the most common type of cancer in the world. We are excited about this innovative, non-surgical approach to non-melanoma skin cancers. We expect to enroll over 60 patients in the trial and look forward to providing further updates.” Business Highlights and Recent Developments VP-102 Verrica’s lead product candidate, VP-102, is currently under U.S. Food and Drug Administration (FDA) review and has an upcoming Prescription Drug User Fee Act (PDUFA) goal date of May 24, 2022. LTX-315 In April 2022, Verrica dosed the first patient in its Phase 2 clinical trial of LTX-315, a potentially first-in-class oncolytic peptide immunotherapy, for the treatment of basal cell carcinoma. The Phase 2 trial is a three-part, open-label, multicenter, dose-escalation, proof-of-concept study with a safety run-in designed to assess the safety, pharmacokinetics, and efficacy of LTX-315 when administered intratumorally to adults with biopsy-proven basal cell carcinoma. Financial Results First Quarter 2022 Financial Results Verrica recognized license revenues of $0.4 million in the first quarter of 2022 compared to $12.0 million for the same period in 2021 related to the Collaboration and License Agreement (the “Torii Agreement”) with Torii Pharmaceutical Col, Ltd (“T...