Company: VRCA
Filing Date: 2025-06-12
Form Type: 8-K
Source: 0001193125-25-139959
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Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-06-12
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On June 10, 2025, Verrica Pharmaceuticals Inc. (the “ Company”) entered into the sixth amendment and waiver (the “ Sixth Amendment”) to its Credit Agreement dated as of July 26, 2023 (as amended prior to the Sixth Amendment, the “ Credit Agreement”), by and between the Company, as borrower, OrbiMed Royalty & Credit Opportunities IV, LP, as a lender, each other lender that may from time to time become a party thereto (collectively, the “ Lenders”), and OrbiMed Royalty & Credit Opportunities IV, LP, as administrative agent for the Lenders. Pursuant to the Sixth Amendment, the Lenders agreed to waive specified covenants under the Credit Agreement, including the requirements under Section 7.1(b) and Section 7.1(c) of the Credit Agreement that there be no “going concern” qualification with respect to the financial statements for the quarters ending June 30, 2025 and September 30, 2025, and the year ending December 31, 2025. In connection with the Sixth Amendment, the Company agreed to pay the Lenders an amendment fee of $110,465.12.

Except as set forth in the Sixth Amendment, the remaining terms of the Credit Agreement remain unchanged. The foregoing description of the terms of the Sixth Amendment is not intended to be complete and is qualified in the entirety by reference to the Sixth Amendment, which the Company expects to file as an exhibit to the Company’s Quarterly Report on Form10-Qfor the quarter ending June 30, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                           Verrica Pharmaceuticals Inc.     
  Date: June 12, 2025      /s/ John J. Kirby                
                           John J. Kirby                    
                           Interim Chief Financial Officer