Business
Verrica Pharmaceuticals Reports Third Quarter 2022 Financial Results
Reiterates expectation to resubmit NDA for VP-102 for Molluscum Contagiosum in Q1 2023 Part 1 of Phase 2 for VP-LTX-315 for Basal Cell Carcinoma on track to
About this update from Verrica Pharmaceuticals Inc.
[{"type":"text","content":"Reiterates expectation to resubmit NDA for VP-102 for Molluscum Contagiosum in Q1 2023 Part 1 of Phase 2 for VP-LTX-315 for Basal Cell Carcinoma on track to conclude Q1 2023 WEST CHESTER, Pa., Nov. 07, 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 third quarter ended September 30, 2022. “This quarter, we achieved significant progress in the transfer of our bulk material production to Piramal Pharma Solutions, and we are on track to resubmit our NDA for VP-102 for the treatment of molluscum contagiosum in the first quarter of 2023,” said Ted White, Verrica’s President and Chief Executive Officer. “We greatly appreciate the collaborative effort from the entire Piramal team, as well as their commitment to completing this technology transfer on an expedited basis. We continue to look forward to providing physicians and caregivers the potential first FDA-approved treatment option for molluscum, a disease impacting an estimated six million patients annually in the United States.” Business Highlights and Recent Developments VP-102 In July 2022, Torii Pharmaceutical Co., Ltd. (“Torii”) dosed the first patient in its Phase 3 trial of VP-102 (referred to as TO-208 in Japan) for molluscum contagiosum in Japan, triggering an $8 million milestone payment from Torii to Verrica. VP-LTX-315 Verrica continued to progress its Phase 2 clinical trial of VP-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 VP-LTX-315 when administered intratumorally to adults with biopsy-proven basal cell carcinoma. Part 1 (safety and dose escalation) is expected to conclude in Q1 2023. Financial Results Third Quarter 2022 Financial Results Verrica recognized license revenues of $8.3 million for the three months ended September 30, 2022 and no license revenue for the same period in 2021 related to the Collaboration and License Agreement (the “Torii Agreement”) with Torii for supplies and development activity with Torii.Research and develop...