Verrica Announces Proposed Public Offering of Common Stock
March 22 2021 - 4:01PM
Verrica Pharmaceuticals Inc. (Nasdaq: VRCA), a dermatology
therapeutics company developing medications for skin diseases
requiring medical interventions, today announced that it intends to
offer and sell, subject to market conditions, shares of its common
stock in an underwritten public offering. All of the shares
of common stock to be sold in the offering will be offered by
Verrica. Verrica also intends to grant the underwriters a 30-day
option to purchase up to an additional 15% of the shares of its
common stock offered in the public offering on the same terms and
conditions. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or the actual size or terms of the offering.
Jefferies LLC, Cowen and Company, LLC and RBC
Capital Markets, LLC are acting as joint book-running managers for
the offering.
A shelf registration statement relating to the
shares of common stock offered in the public offering described
above was filed with the Securities and Exchange
Commission (SEC) on March 13, 2020 and declared effective
by the SEC on March 25, 2020. The offering will be made only
by means of a written prospectus and prospectus supplement that
form a part of the registration statement. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available
on the SEC’s website at www.sec.gov. Copies of the
preliminary prospectus supplement and the accompanying prospectus,
when available, may also be obtained by contacting Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340
or by email at Prospectus_Department@Jefferies.com; or Cowen and
Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, Attn: Prospectus Department, by
telephone at (833) 297-2926, or by email at
PostSaleManualRequests@broadridge.com; or RBC Capital Markets, LLC,
Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York,
NY 10281, or by telephone at (877) 822-4089 or by email at
equityprospectus@rbccm.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities being
offered, nor shall there be any sale of the securities being
offered in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About Verrica Pharmaceuticals
Inc.
Verrica is a dermatology therapeutics company
developing medications for skin diseases requiring medical
interventions. Verrica’s late-stage product candidate, VP-102, is
in development to treat molluscum, common warts and external
genital warts, three of the largest unmet needs in medical
dermatology. Verrica is also developing VP-103, its second
cantharidin-based product candidate, for the treatment of plantar
warts. The Company has also entered a worldwide license agreement
with Lytix Biopharma AS to develop and commercialize LTX-315 for
dermatologic oncology conditions.
Forward-Looking Statements
Any statements in this press release about
future expectations, plans and prospects for Verrica
Pharmaceuticals Inc., including statements about Verrica’s
anticipated public offering and other statements containing the
words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“may,” “plan,” “predict,” “project,” “target,” “potential,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all and such
other factors as are set forth in the risk factors detailed in
Verrica’s Annual Report on Form 10-K for the year ended December
31, 2020 and other filings Verrica makes with
the SEC from time to time. In addition, the
forward-looking statements included in this press release represent
Verrica’s views as of the date hereof. Verrica anticipates that
subsequent events and developments will cause Verrica’s views to
change. However, while Verrica may elect to update these
forward-looking statements at some point in the future, Verrica
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Verrica’s views as of any date subsequent to the date
hereof.
FOR MORE INFORMATION, PLEASE
CONTACT:
Investors:
A. Brian DavisChief Financial
Officer484.453.3300 ext. 103info@verrica.com
William Windham
Solebury
Trout646.378.2946wwindham@troutgroup.com
Media:
Zara LockshinSolebury
Trout646.378.2960zlockshin@troutgroup.com
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