Verrica lands $27.5M debt facility from its chairman to fund YCANTH growth
What's the deal? Verrica Pharmaceuticals has closed a credit facility of up to $27.5 million with an entity controlled by Paul B. ManningDealroom has a profile for this one. Try Dealroom →, its chairman and largest shareholder. The facility provides up to $12.5 million immediately, with a further $15 million available subject to revenue, growth and operational milestones.
What it means. The non-dilutive capital will support commercialisation of YCANTH, the company's global Phase 3 programme for common warts and general corporate operations. Borrowings carry interest at one-month SOFR plus 8%, with interest payable in kind and maturity on 31 December 2030; the facility did not include warrants.
Why now? Verrica expects data from the two pivotal common-warts studies by mid-2027 and says the full facility could extend its cash runway into 2028.
Read more: GlobeNewswire via MarketScreener
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