Verrica Pharmaceuticals (VRCA) said Monday that the first US patient has been dosed in the COVE-3 second clinical trial in its global phase 3 program evaluating Ycanth to treat common warts.

The company said the trial is evaluating the efficacy and safety of Ycanth when applied once every 21 days for a up to four applications in patients aged two years and older.

The COVE-2 study is enrolling patients in the US, the company said, while the COVE-3 study is enrolling patients in the US and Japan. Verrica also said that it and Torii intend to seek marketing approval for Ycanth in the US and Japan.

The companies are equally bearing the costs of the global Phase 3 program, with Verrica funding the first $40 million of trial costs.

Shares of Verrica Pharmaceuticals were down over 2% pre-bell.