{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-292155","form_type":"8-K","ticker":"VRCA","cik":"0001660334","company_name":"Verrica Pharmaceuticals Inc.","filed_at":"2025-11-24T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.068361+00:00","generated_at":"2026-05-16T17:19:37.967390+00:00","sec_items":["1.01","3.02","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Verrica raises ~$50M in PIPE to retire OrbiMed debt, extend runway into mid-2027","bullets":["Gross proceeds of ~$50M from sale of 6.5M shares, 5.3M pre-funded warrants, and 2.95M Series C warrants.","$35M of net proceeds to fully repay OrbiMed credit facility ($50M drawn); remaining for working capital.","Cash runway extended into mid-2027; Q3 2025 cash balance was $21.1M.","Caligan Partners anchors financing, gets right to designate a Class I board member post-closing.","Series C warrants exercisable at $6.315/share, expire 5 years from close; pre-funded at $0.0001/share."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-292155","json":"https://secwatch.observer/filing/0001193125-25-292155.json","markdown":"https://secwatch.observer/filing/0001193125-25-292155.md","text":"https://secwatch.observer/filing/0001193125-25-292155.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1660334/000119312525292155/0001193125-25-292155-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1660334/000119312525292155/d692687d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T17:19:37.967390+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6cea049b3d24983912e4fae824b3f64a443ddfff","claim":"Verrica Pharmaceuticals Inc. issued pre-funded warrants to purchase 5,305,164 shares of Common Stock of warrant to certain institutional investors and other accredited investors for Purchase Price minus $0.0001 per Pre-Funded Warrant.","evidence_excerpt":"to the Purchasers in a private placement transaction (the “ Private Placement ”) an aggregate of (i) 6,499,826 shares (the “ Shares ”) of the Company’s common stock, par value $0.0001 (“ Common Stock ”), (ii) with respect to certain Purchasers, pre-funded warrants to purchase 5,305,164 shares of Common Stock (the “ Pre-Funded Warrants ”) in lieu of Shares and","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1660334/000119312525292155/0001193125-25-292155-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"warrant"},{"label":"Shares","value":"pre-funded warrants to purchase 5,305,164 shares of Common Stock"},{"label":"Purchaser","value":"certain institutional investors and other accredited investors"},{"label":"Consideration","value":"Purchase Price minus $0.0001 per Pre-Funded Warrant"}],"fact_type":"equity_issuance"},{"claim_id":"aa30b4df021e1764319ecaf89328bee490ce838f","claim":"Verrica Pharmaceuticals Inc. issued Series C warrants to purchase 2,951,241 shares of Common Stock of warrant to institutional investors and other accredited investors for $4.24125 per share and accompanying Series C Warrant.","evidence_excerpt":"Series C warrants to purchase 2,951,241 shares of Common Stock (the “ Series C Warrants ”). The purchase price per share of Common Stock and accompanying Series C Warrant is $4.24125 per share (the “ Purchase Price ”) and the purchase price for the Pre-Funded Warrants and accompanying Series C Warrant is the Purchase Price minus $0.0001 per Pre-Funded Warrant.","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1660334/000119312525292155/0001193125-25-292155-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"warrant"},{"label":"Shares","value":"Series C warrants to purchase 2,951,241 shares of Common Stock"},{"label":"Purchaser","value":"institutional investors and other accredited investors"},{"label":"Consideration","value":"$4.24125 per share and accompanying Series C Warrant"}],"fact_type":"equity_issuance"},{"claim_id":"d48fc5affff7d5a6b0ecce74434e95da63ac9b26","claim":"Verrica Pharmaceuticals Inc. issued 6,499,826 shares of common stock to institutional investors and other accredited investors for $4.24125 per share.","evidence_excerpt":"Series C warrants to purchase 2,951,241 shares of Common Stock (the “ Series C Warrants ”). The purchase price per share of Common Stock and accompanying Series C Warrant is $4.24125 per share (the “ Purchase Price ”) and the purchase price for the Pre-Funded Warrants and accompanying Series C Warrant is the Purchase Price minus $0.0001 per Pre-Funded Warrant.","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1660334/000119312525292155/0001193125-25-292155-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"common stock"},{"label":"Shares","value":"6,499,826 shares"},{"label":"Purchaser","value":"institutional investors and other accredited investors"},{"label":"Consideration","value":"$4.24125 per share"}],"fact_type":"equity_issuance"},{"claim_id":"664d14f8818f5d023482542100bcd5d7104fea90","claim":"Verrica Pharmaceuticals Inc. entered into Securities Purchase Agreement with certain institutional investors valued at approximately $4.24115 million (effective 2025-11-23).","evidence_excerpt":"On November 23, 2025, Verrica Pharmaceuticals, Inc. (the “ Company ”) entered into a Securities Purchase Agreement with certain institutional investors","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1660334/000119312525292155/0001193125-25-292155-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"certain institutional investors"},{"label":"Value","value":"approximately $4.24115 million"},{"label":"Effective","value":"2025-11-23"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}