WEST CHESTER, Pa., June 19, 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 closing of its initial public offering of 5,750,000 shares of its common stock at a public offering price of $15.00 per share, which includes the full exercise of the underwriters’ option to purchase 750,000 additional shares, for total gross proceeds of approximately $86.3 million before underwriting discounts and commissions and estimated offering expenses. All of the common stock in the offering was sold by Verrica. The shares commenced trading on the Nasdaq Global Market on June 15, 2018 under the ticker symbol “VRCA.”

BofA Merrill Lynch, Jefferies and Cowen served 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.