Verrica Pharma Shares Slide 25% After Company Receives Letter From FDA
September 20 2021 - 6:03PM
Dow Jones News
By Stephen Nakrosis
Shares of Verrica Pharmaceuticals Inc. are lower in Monday's
late-trading session, after the company said it received a complete
response letter from the U.S. Food and Drug Administration
identifying deficiencies at a contract manufacturer's facility for
its VP-102.
The company said it filed a new drug application for VP-102 to
treat molloscum contagiosum, a viral infection affecting the
skin.
Verrica said the deficiencies identified by the FDA "are not
specifically related to the manufacturing of VP-102 but instead
raise general quality issues at the facility." The company added,
"the FDA did not identify any clinical, safety or product specific
chemistry, manufacturing, and controls deficiencies related to
VP-102."
The contract manufacturing organization advised Verrica it is
"expecting a satisfactory resolution of the facility's identified
deficiencies from the FDA within the next 30 business days,"
Verrica said.
At 5:23 p.m. ET, shares of Verrica were trading 24.77% lower at
$9.05 a share. Volume at the time topped 164,000 shares.
The company's stock finished the day's regular-trading session
with a 1.15% loss, closing at $12.03 per share.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 20, 2021 17:48 ET (21:48 GMT)
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