Lytix Biopharma – Licensing partner Verrica Pharmaceuticals announces pricing of underwritten public offering, raising approximately USD 42 million upon completion
Oslo, November 21st 2024: Lytix Biopharma refers to the release made today by its licensing partner Verrica Pharmaceuticals, announcing the pricing of a USD 42 million underwritten public offering.
The offering is expected to close on November 22, 2024, and the gross proceeds from the offering are expected to be approximately USD 42.0 million. Verrica also granted the underwriter an option for a period of 30 days to purchase up to 7,080,000 additional shares.
The full announcement can be read via this link: https://verrica.com/press_release/verrica-announces-pricing-of-42-0-million-public-offering/
Further information is available through Verrica Pharmaceuticals’ website.
For any questions, please contact:
Gjest Breistein, CFO
gjest.breistein@lytixbiopharma.com
+47 952 60 512
About Lytix Biopharma
Based in Oslo, Norway, Lytix Biopharma is a clinical-stage biotech company with a highly novel technology based on world leading research in host-defense peptide-derived molecules. Lytix Biopharma’s lead product, LTX-315, is a first-in-class oncolytic molecule representing a new principle to boost anti-cancer immunity. Lytix Biopharma has a pipeline of molecules that can work in many different cancer indications and treatment settings, both as mono- and combination therapy.
About Verrica Pharmaceuticals
Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. Verrica’s product YCANTH® (VP-102) (cantharidin), is the first and only commercially available treatment approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. YCANTH® (VP-102) is also in development to treat common warts and external genital warts, two of the largest remaining unmet needs in medical dermatology. Verrica is developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. Verrica has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize VP-315 (formerly LTX-315 and VP-LTX-315) for non-melanoma skin cancers including basal cell carcinoma and squamous cell carcinoma. For more information, visit www.verrica.com.