WEST CHESTER, Pa., June 14, 2018 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (Nasdaq:VRCA), a pharmaceutical company focused on identifying, developing and commercializing innovative pharmaceutical products for the treatment of skin diseases with significant unmet needs, today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a public offering price of $15.00 per share, for total gross proceeds of approximately $75.0 million before underwriting discounts and commissions and estimated offering expenses. In addition, Verrica has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the common stock is being offered by Verrica. The shares are scheduled to begin trading on the Nasdaq Global Market on June 15, 2018 under the ticker symbol “VRCA.” The offering is expected to close on June 19, 2018, subject to customary closing conditions.

BofA Merrill Lynch, Jefferies and Cowen are serving as joint book-running managers for the offering.

About Verrica Pharmaceuticals Inc.

Verrica is a pharmaceutical company focused on identifying, developing and commercializing innovative pharmaceutical products for the treatment of skin diseases with significant unmet needs. The company’s lead product candidate, VP-102, is currently being evaluated in two Phase 3 clinical trials for the treatment of molluscum and in a Phase 2 clinical trial for the treatment of common warts.