NEW YORK, June 3, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Verrica Pharmaceuticals Inc. («Verrica» or the «Company») (NASDAQ: VRCA). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Verrica and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 1, 2021, Verrica issued a press release announcing that the U.S. Food and Drug Administration («FDA») extended the review period by three months for its New Drug Application («NDA») of VP-102 for the treatment of molluscum contagiosum (molluscum), a highly contagious viral skin disease. Specifically, the press release indicated that «[o]n May 26, the company was informed by the FDA that the information submitted has been designated a major amendment, and therefore, the FDA will take an additional three months to review the submitted information.» The press release further stated that «[t]he Prescription Drug User Fee Act (PDUFA) goal date has also been postponed by three months to September 23, 2021.»
On this news, Verrica’s stock price fell $0.96 per share, or 8.52%, to close at $10.30 per share on June 1, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP