PR Newswire | Aug 4, 2020 04:01PM EDT

Potential Securities Fraud

08/04 15:01 CDT

Investor Alert: Kaplan Fox Investigates Verrica Pharmaceuticals Inc. For Potential Securities Fraud NEW YORK, Aug. 4, 2020

NEW YORK, Aug. 4, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Verrica Pharmaceuticals Inc. ("Verrica" or the "Company") (NASDAQ: VRCA). A complaint has been filed on behalf of investors that purchased Verrica securities between September 16, 2019 and June 29, 2020, inclusive (the "Class Period").

On June 29, 2020, after the market closed, Verrica disclosed an FDA letter identifying deficiencies that preclude discussion of labeling and post-marketing requirements for its drug-device lead product candidate, a topical solution administered through a single-use precision applicator. According to the Company, the FDA made "a specific request related to a potential safety issue with the applicator that could arise if the instructions for use were not properly followed." Verrica said that "[i]n response, the Company incorporated an additional user feature into the applicator to address that issue." However, "[t]he addition of that user feature. . .affected human factors testing as well as requiring additional supportive stability data on the fully assembled device incorporating such feature."

Following this news, Verrica's stock price fell $3.06, nearly 22%, to close at $11.01 per share on June 30, 2020.

If you are a member of the proposed Class, you may move the court no later than September 14, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. HallKAPLAN FOX & KILSHEIMER LLP850 Third Avenue, 14th FloorNew York, New York 10022(646) 315-9003E-mail: dhall@kaplanfox.com

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704Fax: (415) 772-4707E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP