PHILADELPHIA, July 20, 2022 /PRNewswire/ -- 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 aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net 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.
Whistleblowers: Anyone with non-public information regarding Verrica is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
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.
Contacts
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Michael Dell'Angelo, Executive Shareholder
Berger Montague
(215) 875-3080
mdellangelo@bm.net
View original content to download multimedia:https://www.prnewswire.com/news-releases/berger-montague-investigates-securities-fraud-allegations-against-verrica-pharmaceuticals-inc-nasdaq-vrca---verrica-pharmaceuticals-inc---lead-plaintiff-deadline-is-august-5-2022-301590504.html
SOURCE Berger Montague
