Verrica Pharmaceuticals Appoints Gavin Corcoran, M.D. to its Board of Directors

WEST CHESTER, Pa., April 02, 2025 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica” or the “Company”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced the appointment of Gavin Corcoran, M.D. to its Board of Directors.

“We are pleased to welcome Dr. Gavin Corcoran to our Board of Directors,” said Jayson Rieger, Ph.D., MBA, President and Chief Executive Officer of Verrica Pharmaceuticals. “Gavin is a highly accomplished pharmaceutical executive with an outstanding track record of successfully developing and launching innovative medicines, as well as creating significant value through strategic transactions. As Verrica continues to grow its commercial business and advance its late-stage pipeline, Gavin’s insights and experience will be extremely helpful as we seek to achieve our strategic objectives.”

“Verrica is now reaching an important inflection point in its commercial business, as a growing number of dermatologists and pediatricians are prescribing YCANTH^® for the treatment of molluscum contagiosum,” said Dr. Corcoran. “As the company’s commercial business continues to grow, I also see tremendous potential in Verrica’s innovative clinical development pipeline, which, like YCANTH^®, seeks to address large areas of unmet medical need in dermatology. I look forward to working with my fellow Board Members and Verrica’s management team to help bring these therapies to patients.”

Dr. Corcoran has served as the Chief Development Officer of Formation Bio since November 2021. He previously held several R&D leadership positions including Chief Research and Development Officer at Sio Gene Therapies, Inc. (formerly known as Axovant), Chief Medical Officer at Allergan and Head of R&D at Stiefel Laboratories. He received his M.B. B.Ch. from the University of Witwatersrand in South Africa and completed his clinical training in internal medicine and infectious diseases at the University of Texas Health Science Center at San Antonio.

About YCANTH^® (VP-102)

YCANTH^® is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin delivered via a single-use applicator that allows for precise topical dosing and targeted administration for the treatment of molluscum. YCANTH^® is the first and only commercially available product approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum — a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. Approval of YCANTH^® was based upon the positive results from two Phase 3 clinical trials in approximately 500 patients which demonstrated that YCANTH^® was a safe and effective therapeutic for the treatment of molluscum. Approximately 225 million lives are eligible to receive YCANTH^® covered by insurance. YCANTH^® is available to all patients with and without insurance coverage for $25 per treatment, and further financial assistance is available for patients in need. Please visit YCANTHPro.com for additional information.

About Verrica Pharmaceuticals Inc.

Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s product YCANTH^® (VP-102) (cantharidin), is the first and only commercially available treatment approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. YCANTH^® (VP-102) is also in development to treat common warts, the largest remaining unmet need in medical dermatology. Verrica has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize VP-315 (formerly LTX-315 and VP-LTX-315) for non-melanoma skin cancers including basal cell carcinoma and squamous cell carcinoma. For more information, visit .

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include statements about the commercialization of YCANTH and the clinical development and benefits of Verrica’s product candidates, including YCANTH (VP-102) and VP-315. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include risks and uncertainties related to market conditions, satisfaction of customary closing conditions related to the proposed public offering and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2024 and other filings Verrica makes with the SEC. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.

FOR MORE INFORMATION, PLEASE CONTACT:

Investors:

John J Kirby 

Interim Chief Financial Officer 

Kevin Gardner

LifeSci Advisors