Verrica Pharmaceuticals ( (VRCA) ) has issued an update.
Verrica Pharmaceuticals is undergoing significant leadership changes and financial restructuring as it navigates challenges and opportunities in the dermatology sector. Ted White has stepped down as CEO, with Dr. Jayson Rieger taking his place and John Kirby appointed as Interim CFO. The company reported negative net product revenue in Q3 2024 due to product returns and is focusing on reducing operating expenses and enhancing market access for its molluscum treatment, YCANTH. Verrica has engaged Jefferies as a financial advisor to explore ways to strengthen its balance sheet.
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