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WEST CHESTER, Pa. - Verrica Pharmaceuticals Inc. (NASDAQ:VRCA), a company specializing in dermatology therapeutics with a market capitalization of $332 million and impressive revenue growth of 186% over the last twelve months, announced today the appointment of Noah L. Rosenberg, M.D., as its new Chief Medical Officer (CMO). Dr. Rosenberg, with over 30 years of experience in clinical and therapeutic development, including multiple global drug approvals, joins Verrica at a pivotal time as the company aims to establish YCANTH® as the standard of care for molluscum contagiosum and to progress clinical programs for basal cell carcinoma and common warts.
Dr. Rosenberg’s appointment follows his notable work in the industry, including his role as CMO at Travere Therapeutics, where he led the team to the approval of Filspari. His previous experience encompasses senior positions at Esperion Therapeutics, Forest Research Institute, Sanofi, and Pfizer, focusing on cardiovascular and metabolism drug development. He is a Drexel University College of Medicine graduate and completed his residency at The Mount Sinai School of Medicine. According to InvestingPro data, Verrica maintains a "GOOD" overall financial health score, with a notably strong gross profit margin of 65.4%.
Jayson Rieger, President and CEO of Verrica, expressed gratitude to Gary Goldenberg, the outgoing CMO, for his significant contributions, including the FDA approval of YCANTH for molluscum contagiosum. Goldenberg will continue to serve as a strategic advisor and consultant for Verrica.
In connection with Dr. Rosenberg’s appointment, Verrica’s Board of Directors approved an inducement stock option award for him to purchase 325,000 shares of common stock under the company’s 2024 Inducement Plan. The option award, with an exercise price of $0.5221 per share, will vest over a period subject to continuous service with the company. For investors following this development, InvestingPro subscribers can access comprehensive analysis and valuation metrics, including detailed Fair Value estimates and analyst price targets.
YCANTH® (VP-102) is a proprietary drug-device combination product that is the first and only FDA-approved therapy for molluscum contagiosum, a skin disease affecting an estimated six million people in the U.S., primarily children. The product is also under development for common warts and basal cell carcinoma under a license agreement with Lytix Biopharma AS.
This announcement is based on a press release statement from Verrica Pharmaceuticals. Investors should note that the company’s next earnings report is expected on May 13, 2025. The forward-looking statements in the press release are subject to risks and uncertainties that could cause actual results to differ materially from current expectations. For detailed financial analysis and exclusive insights, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Esperion Therapeutics has reported a significant increase in its fourth-quarter 2024 earnings, with total revenue climbing 114% year-over-year to $69.1 million, surpassing the forecast of $63.45 million. The company’s earnings per share were reported at -$0.11, better than the anticipated -$0.14. This financial performance was bolstered by a 52% increase in U.S. net product revenue and a 227% surge in collaboration revenue. Additionally, Esperion has secured a regulatory path with the FDA to initiate Phase 3 clinical trials for its cholesterol-lowering drug, bempedoic acid, targeting pediatric patients with familial hypercholesterolemia.
The company plans to launch these trials within the current year, aiming to expand its market presence. JMP Securities has maintained its Market Outperform rating and $4.00 price target for Esperion, emphasizing the potential growth of its bempedoic acid franchises. The analyst highlighted the potential benefits of label expansion, which could extend patent protection until June 2031. Esperion’s management anticipates that the impact of the Medicare coverage gap on earnings is expected to be a one-time event, with more consistent revenue growth anticipated in 2025. These developments are being closely monitored by investors and stakeholders, as they could significantly influence the company’s growth and profitability.
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