Ver­ri­ca Phar­ma bankrolls PhI­II with a $75M IPO raise for lead skin drug

Just in case you’re won­der­ing if the biotech IPO win­dow is still open, der­ma­tol­ogy biotech Ver­ri­ca Phar­ma­ceu­ti­cals has bagged $75 mil­lion in its Nas­daq de­but. That won’t qual­i­fy as stel­lar in this mar­ket, but it’s OK.

The $15 per share price falls square­ly with­in the range the West Chester, PA-based com­pa­ny was look­ing for when it set its terms. The in­fu­sion of cash will be enough to fund lead prod­uct VP-102 through clin­i­cal de­vel­op­ment in the mol­lus­cum con­ta­gio­sum in­di­ca­tion (a vi­ral skin in­fec­tion char­ac­ter­ized by bumps), from two Phase III clin­i­cal tri­als, reg­u­la­to­ry sub­mis­sion to a po­ten­tial com­mer­cial launch.

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