<SEC-DOCUMENT>0000902664-25-005417.txt : 20251230
<SEC-HEADER>0000902664-25-005417.hdr.sgml : 20251230
<ACCEPTANCE-DATETIME>20251230071047
ACCESSION NUMBER:		0000902664-25-005417
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251230
DATE AS OF CHANGE:		20251230

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Verrica Pharmaceuticals Inc.
		CENTRAL INDEX KEY:			0001660334
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				463137900
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-90530
		FILM NUMBER:		251611052

	BUSINESS ADDRESS:	
		STREET 1:		10 NORTH HIGH STREET
		STREET 2:		SUITE 200
		CITY:			WEST CHESTER
		STATE:			PA
		ZIP:			19380
		BUSINESS PHONE:		484-453-3300

	MAIL ADDRESS:	
		STREET 1:		10 NORTH HIGH STREET
		STREET 2:		SUITE 200
		CITY:			WEST CHESTER
		STATE:			PA
		ZIP:			19380

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Caligan Partners LP
		CENTRAL INDEX KEY:			0001727492
		ORGANIZATION NAME:           	
		EIN:				822603419
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		780 THIRD AVENUE
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		718-570-6018

	MAIL ADDRESS:	
		STREET 1:		780 THIRD AVENUE
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0000902664-25-005145</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Caligan Partners LP -->
          <cik>0001727492</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <dateOfEvent>12/26/2025</dateOfEvent>
      <previouslyFiledFlag>true</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001660334</issuerCIK>
        <issuerCUSIP>92511W207</issuerCUSIP>
        <issuerName>Verrica Pharmaceuticals Inc.</issuerName>
        <address>
          <com:street1>10 NORTH HIGH STREET</com:street1>
          <com:street2>SUITE 200</com:street2>
          <com:city>WEST CHESTER</com:city>
          <com:stateOrCountry>PA</com:stateOrCountry>
          <com:zipCode>19380</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>David Johnson</personName>
          <personPhoneNum>(646) 859-8204</personPhoneNum>
          <personAddress>
            <com:street1>Caligan Partners LP</com:street1>
            <com:street2>780 Third Avenue, 30th Floor</com:street2>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10017</com:zipCode>
          </personAddress>
        </notificationInfo>
        <notificationInfo>
          <personName>Ele Klein &amp; Adriana Schwartz</personName>
          <personPhoneNum>212-756-2000</personPhoneNum>
          <personAddress>
            <com:street1>McDermott Will &amp; Schulte LLP</com:street1>
            <com:street2>919 Third Avenue</com:street2>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10022</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001727492</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Caligan Partners LP</reportingPersonName>
        <fundType>AF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>6503054.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>6503054.00</sharedDispositivePower>
        <aggregateAmountOwned>6503054.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>9.99</percentOfClass>
        <typeOfReportingPerson>IA</typeOfReportingPerson>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
        <commentContent>Includes 5,579,144 shares of Common Stock (as defined below) issuable upon exercise of the Reported Warrants (as defined in Item 6). As more fully described in Item 5(a), the Reported Warrants are subject to the 9.99% Blocker (as defined in Item 5(a)) and the percentage set forth on row (13) gives effect to the 9.99% Blocker.  However, rows (8), (10) and (11) show the number of shares of Common Stock that would be issuable upon the full exercise of the Reported Warrants and does not give effect to the 9.99% Blocker.  Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to the 9.99% Blocker, is less than the number of securities reported on rows (8), (10) and (11).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001785557</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>David Johnson</reportingPersonName>
        <fundType>AF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>6503054.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>6503054.00</sharedDispositivePower>
        <aggregateAmountOwned>6503054.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>9.99</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
        <commentContent>Includes 5,579,144 shares of Common Stock issuable upon exercise of the Reported Warrants. As more fully described in Item 5(a), the Reported Warrants are subject to the 9.99% Blocker and the percentage set forth on row (13) gives effect to the 9.99% Blocker.  However, rows (8), (10) and (11) show the number of shares of Common Stock that would be issuable upon the full exercise of the Reported Warrants and does not give effect to the 9.99% Blocker.  Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to the 9.99% Blocker, is less than the number of securities reported on rows (8), (10) and (11).</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, par value $0.0001 per share</securityTitle>
        <issuerName>Verrica Pharmaceuticals Inc.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>10 NORTH HIGH STREET</com:street1>
          <com:street2>SUITE 200</com:street2>
          <com:city>WEST CHESTER</com:city>
          <com:stateOrCountry>PA</com:stateOrCountry>
          <com:zipCode>19380</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>The following constitutes Amendment No. 1 ("Amendment No. 1") to the Schedule 13D filed by the undersigned on November 24, 2025 (as amended, the "Schedule 13D"). This Amendment No. 1 supplements Item 4 as set forth herein. Capitalized terms used herein and not otherwise defined in this Amendment No. 1 have the meanings set forth in the Schedule 13D.</commentText>
      </item1>
      <item4>
        <transactionPurpose>On 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.</transactionPurpose>
      </item4>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Caligan Partners LP</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ David Johnson</signature>
          <title>David Johnson, Managing Partner</title>
          <date>12/30/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>David Johnson</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ David Johnson</signature>
          <title>David Johnson, Individually</title>
          <date>12/30/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
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</DOCUMENT>
</SEC-DOCUMENT>
