Verrica climbs after Japan's nod for skin infection drug

Shares of Verrica Pharmaceuticals VRCA.O rise 18% to $4.78 premarket

Company says its partner Torii Pharmaceutical has received approval in Japan for their skin infection drug, Ycanth

The drug gets Japan's nod for the treatment of molluscum contagiosum — a common viral skin infection that causes small, raised bumps and spreads through direct contact with infected skin or contaminated objects

The approval triggers a $10 million milestone payment to Verrica

Ycanth is already approved by the U.S. FDA to treat the condition in adult and pediatric patients two years of age and older

As of last close, shares down 42% YTD