The latest update is out from Verrica Pharmaceuticals (VRCA).
Verrica Pharmaceuticals Inc. and Torii Pharmaceutical Co., Ltd. have amended their collaboration, sharing the costs of a global Phase 3 clinical trial for a common warts treatment, with provisions for interest on deferred payments and potential offsets against future milestone payments. Additionally, Verrica has granted Torii a warrant to purchase company stock, which vests based on trial progress milestones. The modification includes terms for license negotiations if trial data is licensed to a third party and retains original termination clauses, with the amendment details to be filed in Verrica’s upcoming quarterly report.
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