Verrica Q3 2021 Earnings Report
Key Takeaways
Verrica Pharmaceuticals reported a net loss of $12.8 million for the third quarter of 2021. The company is engaging with the FDA on next steps toward potential approval of VP-102 for the treatment of molluscum contagiosum and expects to initiate a Phase 2 trial in basal cell carcinoma in the first quarter of 2022 for LTX-315.
FDA issued a Complete Response Letter (CRL) regarding its New Drug Application (NDA) for VP-102 due to deficiencies at a contract manufacturing organization (CMO).
The CMO's inspection has been classified as "voluntary action indicated" (VAI), is now closed and that the VAI classification will not directly negatively impact FDA’s assessment of the Company’s NDA regarding this CMO.
Submitted an Investigational New Drug Application (IND) for LTX-315 for use in basal cell carcinoma.
Expects to initiate Phase 2 trial in basal cell carcinoma in the first quarter of 2022.
Verrica
Verrica
Forward Guidance
Verrica believes that its existing cash, cash equivalents, and marketable securities as of September 30, 2021 will be sufficient to support planned operations into the third quarter of 2022.