Verrica enters lender waiver of going concern covenants for FY2024, Q1 2025

Verrica Pharmaceuticals Inc.

Lenders waive covenant requiring no going concern qualification in Dec 2024 and Mar 2025 financials.
Waiver is with OrbiMed Royalty & Credit Opportunities IV, LP under Credit Agreement dated July 2023.
Remaining terms of Credit Agreement unchanged; waiver filed with 10-K.
This indicates auditor likely issued going concern opinion, signaling potential financial distress.

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