FDA approves first treatment for molluscum contagiosum

The US Food and Drug Administration (FDA) has approved Ycanth (cantharidin), a drug/device for the topical treatment of molluscum contagiosum in adult and pediatric patients two years of age and older.

Developed by USA-based Verrica Pharmaceuticals (Nasdaq: VRCA), Ycanth, previously known as VP-102, is the first FDA-approved treatment for molluscum. Ycanth is administered to patients only by health care providers. Providers apply a single application of Ycanth on the areas of patients’ skin with molluscum bumps every 3 weeks as needed.

The approval comes after two previous rejections from the FDA - both related to manufacturing. Surprisingly, Verrica’s shares plunged more than 32% to $5.05 on Monday.