Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS AGAINST OFFICERS AND DIRECTORS OF VERRICA PHARMACEUTICALS, INC. (NASDAQ: VRCA)

Verrica Pharmaceuticals, Inc. is a dermatology therapeutics company developing medication for skin diseases that require medical treatment. Its lead product candidate, VP-102, is a drug device combination of Verrica’s topical solution, cantharidin, administered through a single-use precision applicator. The Company is developing VP-102 for the treatment of molluscum contagiosum.

Certain claims in a recently filed securities fraud class action complaint have survived Defendants’ motion to dismiss.

The securities fraud complaint alleges that Verrica Pharmaceuticals, Inc. (NASDAQ: VRCA), via certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that there were manufacturing deficiencies at the facility where Verrica’s contract manufacturer produced bulk solution for VP-102; (2) that these deficiencies were not remediated when Verrica resubmitted its NDA for VP-102 for molluscum; (3) that the foregoing presented significant risks to Verrica obtaining regulatory approval of VP-102 for molluscum; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On January 11, 2024, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint, and on September 3, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

Current Verrica shareholders who have held Verrica stock since prior to May 19, 2021, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to contact us at [email protected], or call 267-507-6085.

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