VERRICA PHARMACEUTICALS INC VRCA
COM SHS · Common Stock · CUSIP 92511W207
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersWest Chester, PA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 9.5m as of 2025-11-07, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $8.31.
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2025 | 5 |
| Q3 2025 | 33 |
| Q4 2025 | 50 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2025 | 33 | 5 |
| Q4 2025 | 26 | 15 |
Biggest buyers
| Affinity Asset Advisors, LLC | New | +707.3k |
| ARMISTICE CAPITAL, LLC | Added | +479.7k |
| Velan Capital Investment Management LP | New | +471.6k |
| Stonepine Capital Management, LLC | New | +353.7k |
| DAFNA Capital Management LLC | New | +173.5k |
| TWO SIGMA INVESTMENTS, LP | New | +118.2k |
| JANE STREET GROUP, LLC | New | +101.7k |
| MARSHALL WACE, LLP | New | +85.2k |
| TWO SIGMA ADVISERS, LP | New | +44.4k |
| Squarepoint Ops LLC | New | +33.3k |
Biggest sellers
| VANGUARD GROUP INC | Reduced | -87.0k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -48.9k |
| UBS Group AG | Reduced | -41.6k |
| Sovran Advisors, LLC | Reduced | -41.1k |
| FMR LLC | Sold out | -3.3k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -2.8k |
| CITIGROUP INC | Sold out | -2.1k |
| ROYAL BANK OF CANADA | Reduced | -793 |
| BlackRock, Inc. | Reduced | -463 |
| NISA INVESTMENT ADVISORS, LLC | Sold out | -142 |
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Manning Paul B 13D · may seek influence filed 2025-11-28 | 49.9% |
Caligan Partners LP
13D · may seek influence
no change · filed 2025-12-30
Stated purposeOn December 26, 2025, pursuant to the Purchase Agreement, the Issuer appointed Dr. Charles Frantzreb, a designee selected by Caligan, as a Class I member of the Board, effective immediately. Full filing |
10.0% |
| Affinity Asset Advisors, LLC 13G · institution no change · filed 2026-01-29 | 5.5% |
Fell to 5% or below in the last year: ARMISTICE CAPITAL, LLC (5.0%, 2026-02-17)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 5 | $1.1m | — |
| Q4 2024 | 3 | — | 0 | — | — |
| Q1 2025 | 0 | — | 1 | $2.8k | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 5 | $18.0m | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-11-25 | Manning Paul B Director · See footnote | Bought | $11.7m2.8m shares |
| 2025-11-25 | Manning Paul B Director | Bought | $5.8m1.4m shares |
| 2025-11-25 | Rieger Jayson CEO and President, director | Bought | $399.9k94.3k shares |
| 2025-11-25 | Zawitz David Chief Operating Officer | Bought | $42.4k10.0k shares |
| 2025-11-25 | Kirby John J. Interim CFO | Bought | $15.0k3.5k shares |
| 2025-11-25 | Rosenberg Noah L. CMO | Bought | $10.0k2.4k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| ARMISTICE CAPITAL, LLC 0.23% of their portfolio | 1.1m $9.3m | Added +479.7k |
| Caligan Partners LP 0.70% of their portfolio | 923.9k $7.7m | Unchanged |
| Affinity Asset Advisors, LLC 0.42% of their portfolio | 707.3k $5.9m | New |
| Velan Capital Investment Management LP 2.28% of their portfolio | 471.6k $3.9m | New |
| Stonepine Capital Management, LLC 2.32% of their portfolio | 353.7k $2.9m | New |
| BOOTHBAY FUND MANAGEMENT, LLC 0.06% of their portfolio | 280.7k $2.3m | Unchanged |
| Kalehua Capital Management LLC 1.94% of their portfolio | 235.8k $2.0m | First filing |
| DAFNA Capital Management LLC 0.33% of their portfolio | 173.5k $1.4m | New |
| VANGUARD GROUP INC 0.00% of their portfolio | 138.2k $1.1m | Reduced -87.0k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 118.2k $982.4k | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 101.7k $845.3k | New |
| MARSHALL WACE, LLP 0.00% of their portfolio | 85.2k $707.8k | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 67.7k $562.4k | Unchanged |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 44.4k $369.2k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 33.3k $276.5k | New |
| Sovran Advisors, LLC 0.02% of their portfolio | 32.7k $248.5k | Reduced -41.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 26.4k $219.4k | Reduced -2.8k |
| Mariner, LLC 0.00% of their portfolio | 24.5k $204.0k | Reduced -6 |
| STATE STREET CORP 0.00% of their portfolio | 23.5k $195.1k | Added +2.9k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 23.1k $192.2k | Reduced -48.9k |
| OMERS ADMINISTRATION Corp 0.00% of their portfolio | 22.6k $187.8k | New |
| MORGAN STANLEY 0.00% of their portfolio | 22.0k $182.9k | Added +321 |
| NORTHERN TRUST CORP 0.00% of their portfolio | 20.0k $166.4k | Reduced -7 |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 18.6k $154.7k | New |
| HRT FINANCIAL LP 0.00% of their portfolio | 17.4k $144.0k | New |
| Legacy Trust 0.03% of their portfolio | 17.2k $143.2k | New |
| Walleye Capital LLC 0.00% of their portfolio | 15.2k $126.6k | New |
| XTX Topco Ltd 0.00% of their portfolio | 14.7k $121.8k | New |
| BECK MACK & OLIVER LLC 0.00% of their portfolio | 12.0k $99.7k | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 12.0k $99.7k | Unchanged |
| Quadrature Capital Ltd 0.00% of their portfolio | 12.0k $99.3k | New |
| Man Group plc 0.00% of their portfolio | 11.3k $93.8k | New |
| BlackRock, Inc. 0.00% of their portfolio | 5.7k $47.2k | Reduced -463 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 4.3k $36.1k | Added +4.3k |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 3.3k $27.8k | Added +1.8k |
| Capital Analysts, LLC 0.00% of their portfolio | 1.5k $12.0k | Unchanged |
| Fortitude Family Office, LLC 0.00% of their portfolio | 608 $5.1k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 416 $3.0k | Reduced -793 |
| Salomon & Ludwin, LLC 0.00% of their portfolio | 290 $2.6k | Unchanged |
| New England Capital Financial Advisors LLC 0.00% of their portfolio | 200 $1.7k | Unchanged |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio | 175 $1.5k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 110 $914 | Reduced -14 |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 102 $847 | Unchanged |
| Covestor Ltd 0.00% of their portfolio | 54 $0 | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 47 $391 | New |
| Optiver Holding B.V. 0.00% of their portfolio | 31 $258 | Unchanged |
| UBS Group AG 0.00% of their portfolio | 24 $199 | Reduced -41.6k |
| GROUP ONE TRADING LLC 0.00% of their portfolio | 3 $25 | Unchanged |
| MAI Capital Management 0.00% of their portfolio | 2 $17 | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 1 $8 | Unchanged |