Verrica Pharmaceuticals Welcomes New Chief Medical Officer
Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) is thrilled to announce the appointment of Dr. Noah L. Rosenberg as its new Chief Medical Officer. Based in West Chester, Pennsylvania, this company specializes in dermatology therapeutics, particularly focused on innovative solutions for skin diseases requiring medical intervention.
Excitement Surrounding Dr. Rosenberg's Appointment
Jayson Rieger, PhD, MBA, President and CEO of Verrica, expressed enthusiasm about Dr. Rosenberg joining the team. He highlighted Dr. Rosenberg's extensive experience in drug development and clinical practice, which is expected to significantly bolster Verrica’s mission. Dr. Rosenberg has over 30 years of experience in clinical and therapeutic development as well as numerous global drug approvals, particularly in dermatology.
A Continuation of Excellence with Dr. Rosenberg
Dr. Rosenberg replaces Gary Goldenberg, who has played an essential role in leading Verrica’s therapeutic advancements, including the U.S. Food and Drug Administration's approval of YCANTH®—the first FDA-approved treatment for molluscum contagiosum. Goldenberg will continue to lend his expertise as a strategic advisor while focusing on patient care.
Goals and Aspirations
Upon his appointment, Dr. Rosenberg stated, "Joining the Verrica team as its new Chief Medical Officer is not only a remarkable opportunity for me but also a chance to advance treatments for common skin conditions that affect a large population. Our goal at Verrica is to establish YCANTH® as the standard of care for molluscum contagiosum and to make significant strides in treating basal cell carcinoma and common warts."
Dr. Rosenberg’s Impressive Background
With a distinguished career, Dr. Rosenberg has previously served as Chief Medical Officer for multiple public and private biotechnology firms. He successfully led the clinical development of innovative therapies, including Xepi, a topical antibiotic for impetigo. Most recently, he was the Chief Medical Officer at Travere Therapeutics (NASDAQ: TVTX) and was pivotal in the development and approval of Filspari. His educational credentials include a medical degree from Drexel University College of Medicine and specialized training in Internal Medicine at The Mount Sinai School of Medicine, Mount Sinai Hospital.
Details of the Inducement Grant
In conjunction with his appointment, the Board of Directors approved a significant stock option grant for Dr. Rosenberg. Effective March 24, 2025, this grant allows him to purchase 325,000 shares of Verrica’s stock under their 2024 Inducement Plan. Structured to facilitate his transition into Verrica, this stock option is tied to his continued service as Chief Medical Officer.
Precise Terms of the Stock Option
The stock option comes with an exercise price of $0.5221 per share, reflecting the closing stock price of Verrica’s shares on the grant’s effective date. The vesting schedule allows 1/8th of the shares to become exercisable six months post Dr. Rosenberg’s start date, with further monthly vesting thereafter.
The Vision Behind YCANTH® and Verrica’s Mission
YCANTH® (VP-102) represents a proprietary drug-device combination that utilizes a unique formulation of cantharidin, enabling precise dosing for the treatment of molluscum contagiosum. As the only product of its kind approved in the U.S. for patients aged two years and older, YCANTH® addresses a critical need for effective treatments in skin dermatology.
Impact on Patients and Their Families
This highly contagious skin disease affects approximately six million individuals across the U.S., mostly children. The FDA approval of YCANTH® relied on positive outcomes from pivotal Phase 3 clinical trials involving around 500 patients, showcasing its safety and efficacy. Only recently launched, YCANTH® is accessible to all patients, irrespective of insurance coverage, for just $25 per treatment—with financial assistance programs for those in need.
About Verrica Pharmaceuticals Inc.
Verrica remains committed to developing innovative dermatology medications to address unmet clinical needs. Beyond YCANTH®, the company is also focused on treating common warts and has established a collaboration with Lytix Biopharma AS to advance VP-315 for non-melanoma skin cancer treatments.
Contact Information for Inquiries
If you wish to know more about Verrica’s products or have any inquiries, please reach out to:
Investors:
John J Kirby
Interim Chief Financial Officer
jkirby@verrica.com
Kevin Gardner
LifeSci Advisors
kgardner@lifesciadvisors.com
Frequently Asked Questions
Who is Dr. Noah Rosenberg?
Dr. Noah Rosenberg is the newly appointed Chief Medical Officer at Verrica Pharmaceuticals, bringing extensive experience in drug development.
What is YCANTH®?
YCANTH® is the first FDA-approved treatment for molluscum contagiosum, designed to help patients aged two and older.
What role did Gary Goldenberg play at Verrica?
Gary Goldenberg contributed as Chief Medical Officer during critical stages, including the approval of YCANTH®.
What are Verrica's ongoing clinical programs?
Verrica is advancing treatments for basal cell carcinoma and common warts, in addition to molluscum contagiosum.
How accessible is YCANTH® for patients?
YCANTH® is available for $25 per treatment, with assistance programs for individuals without insurance.
