Securities Fraud Investigation: Verrica Pharmaceuticals, Inc.
VERRICA PHARMACEUTICALS, INC. Company News: Berger Montague Investigates Securities Fraud Allegations Against Verrica Pharmaceuticals, Inc. (NASDAQ: VRCA); Lead Plaintiff Deadline is August 5, 2022
PHILADELPHIA, June 30, 2022 – Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities Verrica Pharmaceuticals, Inc. (“Verrica” or the “Company”) (NASDAQ: VRCA) between May 28, 2021 and May 24, 2022 (the “Class Period”).
If you purchased the securities of Verrica during the Class Period, would like to discuss Berger Montague’s investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/verrica-pharmaceuticals/
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, Verrica announced receipt of a Complete Response Letter (CRL) due to deficiencies at a facility of Verrica’s contract manufacturer. 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 May 24, 2022, Verrica announced receipt of another CRL regarding the VP-102 NDA, citing deficiencies identified during a general reinspection of 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.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.