Verrica Pharmaceuticals (VRCA) said Wednesday it is restructuring its sales and operating teams aimed at reducing costs and expanding access to YCANTH for the treatment of molluscum contagiosum.
The restructuring is expected to lower the company's overall cost structure by around 50% while maintaining adequate resources to support its primary product, YCANTH.
Verrica said it will reduce its number of sales territories from 80 to 35, focusing on regions with a high prevalence of molluscum contagiosum, substantial usage of cantharidin, which is the active ingredient in YCANTH, and strong insurance coverage for the product.
In addition, sales efforts will target both pediatricians and dermatologists to enhance access to YCANTH.
Verrica anticipates a one-time restructuring charge of around $1 million.
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