West Chester-Based Pharmaceutical Company Working to Land Second Crack at Approval for Skin Disorder Drug
West Chester-based Verrica Pharmaceuticals has moved closer to getting a second chance at approval for its skin disorder drug, writes John George for the Philadelphia Business Journal.
The dermatology therapeutics company held a “Type A” meeting with the Food and Drug Administration last month to discuss resubmission and potential approval of VP-102, its experimental treatment for molluscum contagiosum skin disease. If the company’s lead new candidate is approved, it will be marketed under the conditionally approved brand name Ycanth in the U.S.
The FDA previously rejected Verrica’s new drug application after it raised questions about the company’s contract manufacturing partner Sterling Pharmaceuticals. At the time, the FDA did not express concerns regarding the effectiveness of VP-102.
Verrica CEO Ted White noted he is encouraged by the way discussions have been developing.
“We remain confident in VP-102 as the potential first FDA-approved treatment option for molluscum, and we continue to be encouraged by the overwhelming support from caregivers and the medical community,” said White.
Verrica also plans to raise $25.2 million through a public stock sale. The company intends to sell 12 million shares of common stock at $2.10 per share.
Read more about Verrica Pharmaceuticals in the Philadelphia Business Journal.
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