Verrica Announces Pricing of $42.0 Million Public Offering

Core Viewpoint - Verrica Pharmaceuticals Inc. has announced a public offering of common stock and warrants, aiming to raise approximately $42 million before expenses [2][4]. Group 1: Offering Details - The company is offering 44,964,045 shares of common stock and pre-funded warrants for 2,235,955 shares, along with Series A and Series B warrants for 23,600,000 shares each at exercise prices of$1.0680 and $1.3350 respectively [1]. - The combined public offering price is set at$0.89 per share of common stock and accompanying warrants, or $0.8899 per pre-funded warrant [1]. - The offering is expected to close on November 22, 2024, subject to customary closing conditions [1]. Group 2: Underwriter Information - Jefferies is acting as the sole book-running manager for the offering [3]. Group 3: Company Overview - Verrica Pharmaceuticals is focused on developing medications for skin diseases requiring medical interventions, with its product YCANTH® (VP-102) being the first FDA-approved treatment for molluscum contagiosum [6]. - The company is also developing VP-103 for plantar warts and has a license agreement with Lytix Biopharma AS for VP-315 targeting non-melanoma skin cancers [6].