Verrica Pharmaceuticals Inc. board members let it conceal obstacles for regulatory approval of its lead product candidate, a shareholder lawsuit said.
The clinical dermatology company hid quality problems at its third-party manufacturer that delayed the Food and Drug Administration from approving its the topical solution in 2021 and 2022, said the stockholder’s complaint filed in the US District Court for the Eastern District of Pennsylvania on Thursday.
Share prices collapsed almost 64% on May 25, 2022, the day after Verrica said it received an FDA letter denying its viral skin disease treatment’s new drug application due to deficiencies at Sterling ...
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