Verrica Pharmaceuticals Inc. (NASDAQ: VRCA)
NEW YORK, NY – June 14, 2022 – Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of persons and entities that purchased or otherwise acquired Verrica Pharmaceuticals Inc. (“Verrica” or the “Company”) (NASDAQ: VRCA) securities between May 28, 2021 and May 24, 2022, inclusive (the “Class Period”).
All investors who purchased the shares of Verrica Pharmaceuticals Inc. and incurred losses are advised to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you have incurred losses in Verrica Pharmaceuticals Inc., you may, no later than August 5, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Apyx Medical Corporation.
In December 2020, Verrica submitted its New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) seeking regulatory approval of VP-102 for the treatment of molluscum.
On September 20, 2021, after the market closed, Verrica announced receipt of a Complete Response Letter (“CRL”) due to deficiencies at a facility of Verrica’s contract manufacturer in connection with the Company’s NDA.
On this news, the Company’s stock price fell $1.00, or 8.3%, to close at $11.03 per share on September 21, 2021, on unusually heavy trading volume.
In November 2021, Verrica resubmitted the NDA for VP-102, claiming “[t]he resubmission addresses the successful resolution of inspection deficiencies” at the manufacturing facility.
Then, on May 24, 2022, after the market closed, Verrica announced receipt of another Complete Response Letter regarding the VP-102 NDA citing “deficiencies identified during a general reinspection of Sterling Pharmaceuticals Services, LLC (Sterling), the contract manufacturing organization (CMO) that manufactures Verrica’s bulk solution drug product.”
On this news, the Company’s shares fell $3.55, or 63.8%, to close at $2.01 per share on May 25, 2022, on unusually heavy trading volume.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at email@example.com
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 08/17/2022