Verrica Pharmaceuticals Inc. (VRCA) Announces Receipt of FDA Letter

On June 29, 2020, Verrica disclosed that on June 24, 2020 the Company had received a letter from the U.S. Food & Drug Administration ("FDA") as part of the FDA’s ongoing review of the Company’s New Drug Application (NDA) for VP-102 , the Company's lead product candidate for the treatment of molluscum contagiosum. The letter stated that there were deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time. Verrica then noted that the FDA requested information "related to a potential safety issue with the applicator that could arise if the instructions for use were not properly followed." On this news, Verrica's stock price fell 28% over the next two trading days to close at $10.16 per share on July 1, 2020.