According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- there were manufacturing deficiencies at the facility where Verrica’s contract manufacturer produced bulk solution for VP-102 (a drug device combination of Verrica’s topical solution, cantharidin, administered through a single-use precision applicator for the treatment of molluscum contagiosum);
- these deficiencies were not remediated when Verrica resubmitted its New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) for VP-102 for molluscum;
- the foregoing presented significant risks to Verrica obtaining regulatory approval of VP-102 for molluscum;
- 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.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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