Verrica Pharmaceuticals Inc. has announced the entry into the sixth amendment and waiver to its Credit Agreement originally dated July 26, 2023. This amendment, effective June 10, 2025, involves a collaboration with OrbiMed Royalty & Credit Opportunities IV, LP, acting as both lender and administrative agent. Under the terms of this amendment, the lenders have agreed to waive specific covenants, particularly the requirement for no "going concern" qualification in the company's financial statements for certain upcoming periods. In return, Verrica Pharmaceuticals has agreed to pay an amendment fee of $110,465.12. The terms of the original Credit Agreement remain largely unchanged except for the provisions detailed in the Sixth Amendment. The company plans to file this amendment as an exhibit in its upcoming quarterly report.
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