09:11 AM EDT, 05/15/2024 (MT Newswires) -- Verrica Pharmaceuticals ( VRCA ) said Wednesday it has amended its current licensing agreement with Torii Pharmaceutical to jointly carry out a global phase 3 study of Ycanth intended to treat common warts.

Under the amended terms, the two parties would equally divide the cost of the trial, while Torii would also pay an $8 million milestone payment to Verrica upon dosing of the first patient in Japan in the phase 3 trial, the company added.

Verrica also said the financing structure is anticipated to have a minimum impact on its cash. The trial is expected to start in H1 next year.

Shares of the dermatology therapeutics company fell more than 2% in recent premarket activity.

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