The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Verrica Pharmaceuticals, Inc. (NASDAQ: VRCA) who purchased shares between May 28, 2021 and May 24, 2022. The action, which was filed in the United States District Court for the Eastern District of Pennsylvania, alleges that the Company violated federal securities laws.
In particular, the Verrica lawsuit alleges that (1) there were manufacturing deficiencies at the facility where VRCA’s contract manufacturer produced a bulk solution for the Company’s lead product candidate, VP-102; (2) these deficiencies were not remediated when VRCA resubmitted its New Drug Application for VP-12 for molluscum; (3) the foregoing presented significant risks to VRCA obtaining regulatory approval of VP-102 for molluscum; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until August 5, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.