| Item 1. | |
| (a) | Name of issuer:
Verrica Pharmaceuticals Inc. |
| (b) | Address of issuer's principal executive offices:
44 West Gay Street, Suite 400, West Chester, Pennsylvania, 19380 |
| Item 2. | |
| (a) | Name of person filing:
Affinity Asset Advisors, LLC
Affinity Healthcare Fund, LP |
| (b) | Address or principal business office or, if none, residence:
450 Park Avenue
Suite 1403
New York, NY 10022 |
| (c) | Citizenship:
Affinity Asset Advisors, LLC and Affinity Healthcare Fund, LP - Delaware |
| (d) | Title of class of securities:
Common Stock, $0.0001 par value per share |
| (e) | CUSIP No.:
92511W207 |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) |  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
|
| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
|
| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| | |
| Item 4. | Ownership |
| (a) | Amount beneficially owned:
Affinity Asset Advisors, LLC (the "Advisor") is the investment manager of Affinity Healthcare Fund, LP (the "Fund") and exercises investment discretion with regard to the securities reported herein. The Advisor may be deemed to be the beneficial owner of the securities reported herein owned by the Fund by virtue of its position as investment manager of the Fund. The Fund and the Advisor have the shared power to vote or to direct the vote and to dispose or direct the disposition of the securities reported herein.
The Fund and the Advisor beneficially own 707,338 shares of common stock of the Issuer ("Common Stock"). In addition, the Fund directly holds exercisable warrants to purchase 176,834 shares of Common Stock (the "Warrants"). |
| (b) | Percent of class:
The Fund and the Advisor beneficially own 5.47% of the Common Stock.
The percentage disclosed above is based on 16,166,695 shares of Common Stock of the Issuer outstanding as of November 25, 2025, consisting of (a) the 9,490,035 shares of Common Stock of the Issuer outstanding as of November 7, 2025, as set forth in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on November 14, 2025, (b) the 6,499,826 shares of Common Stock of the Issuer issued in the private placement as set forth in the Issuer's Form 8-K filed with the Securities and Exchange Commission on November 24, 2025 and (c) 176,834 shares of Common Stock issuable upon the exercise of the Warrants held by the Fund. |
| (c) | Number of shares as to which the person has:
|
| | (i) Sole power to vote or to direct the vote:
0
|
| | (ii) Shared power to vote or to direct the vote:
884,172.00
|
| | (iii) Sole power to dispose or to direct the disposition of:
0
|
| | (iv) Shared power to dispose or to direct the disposition of:
884,172.00
|
| Item 5. | Ownership of 5 Percent or Less of a Class. |
| |
Not Applicable
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| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. |
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Not Applicable
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| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
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Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. |
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Not Applicable
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| Item 9. | Notice of Dissolution of Group. |
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Not Applicable
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Rule 13d-1(c)