Verrica Pharmaceuticals in West Chester is seeking approval from the Food and Drug Administration for a new drug to treat molluscum contagiosum, a common and highly contagious skin disease, writes John George for the Philadelphia Business Journal.

Currently, there are no FDA-approved treatments for the condition that afflicts around 6 million people nationwide, many of them children.

According to Ted White, Verrica president and CEO, VP-102 has the potential to become the standard of care for the skin disease if approved. The treatment is also being studied as a potential treatment for common warts.

At this time, the company has not disclosed the proposed name for the treatment.

The company’s application with the FDA includes study data from more than 500 patients who were given the treatment at 31 medical centers across the country.

Verrica employs 16 people and ended its last fiscal year with cash, cash equivalents, and marketable securities of $89.8 million. The funds are enough to fund operations “at least through the end of 2020,” according to the company.

Read more about Verrica Pharmaceuticals in the Philadelphia Business Journal here.

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