Why Is Skin Disease-Focused Verrica Pharmaceuticals Stock Trading Higher Today?

Verrica Pharmaceuticals Inc's VRCA development and commercialization partner, Torii Pharmaceutical Co Ltd, reported topline results from its Phase 3 trial of TO-208 (referred to as VP-102 and marketed as Ycanth in the U.S.) for the treatment of Molluscum Contagiosum in Japan.

Molluscum Contagiosum is a common skin infection caused by a virus. The Phase 3 trial was conducted in Japan to evaluate the efficacy and safety of TO-208 compared to placebo when applied once every 21 days for up to four applications in patients with molluscum. 

The topline results show that the proportion of subjects achieving complete clearance of all treatable molluscum lesions after the confirmatory study, the primary endpoint of efficacy, was statistically significant versus placebo. TO-208 was well tolerated during the study.

"We are obviously excited by the positive results from this confirmatory Phase 3 trial for TO-208 for the treatment of molluscum in Japan, which underscores the consistent safety and efficacy of VP-102 and FDA-approved Ycanth," said Ted White, Chief Executive Officer of Verrica Pharmaceuticals. 

In March 2021, Verrica and Torii signed an exclusive licensing agreement for developing and commercializing VP-102 in Japan. Torii intends to submit a manufacturing and marketing application for the product in Japan based on the results of the Phase 3 trial and other studies currently being conducted.

Price Action: VRCA shares are up 72.47% at $6.49 on the last check Friday.