debt
confidence high
sentiment neutral
materiality 0.55
Verrica amends credit agreement with OrbiMed; revenue test deferred to Sept 30, 2024
Verrica Pharmaceuticals Inc.
- Amendment to Credit Agreement moves revenue test start from earlier date to September 30, 2024.
- $500,000 amendment fee paid to lenders in connection with the amendment.
- Revenue test determines if principal payments (including premium) are required based on YCANTH net revenue.
- No other terms of the Credit Agreement were changed.