On August 7, 2026 Verrica Pharmaceuticals Inc. ("Verrica" or the "Company") (Nasdaq: VRCA), a therapeutics company developing and commercializing medications for the treatment of dermatological diseases, including skin cancers, reported financial results for the second quarter ended June 30, 2026.

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"Demand for YCANTH continues to accelerate, with dispensed applicator units reaching 19,626 for the quarter, up approximately 28% sequentially and 46% on a year-over-year basis, and representing our highest quarterly total since launch. We believe that our commercial strategy is working well and provides us with a growing confidence that YCANTH can become the standard of care for patients suffering from molluscum," said Jayson Rieger, PhD, MBA, President and Chief Executive Officer of Verrica.

"In addition to our commercial efforts, we also continue to make progress with our work to expand the label for YCANTH to include common warts, an indication that is more than three times the six million patients estimated to be suffering from molluscum. Topline data from our global Phase 3 program is currently expected in mid-2027, as our studies are recruiting well. We continue to enroll patients in the first pivotal study, COVE-2, and first patients in the U.S. and Japan were dosed in the second pivotal trial, COVE-3, during the quarter," Dr. Rieger continued. "With respect to our basal cell carcinoma program, we remain highly encouraged by the Phase 2 data for our novel oncolytic peptide, VP-315. At the Society for Investigative Dermatology Annual Meeting in May, VP-315 demonstrated a potential ability to impact both treated lesions, as well as showing evidence of a meaningful abscopal effect in untreated lesions. Based on the unique and promising profile of this Phase 3-ready asset, we are continuing our Phase 3 readiness activities."

Dr. Rieger concluded, "Finally, our new credit facility for up to $27.5 million with an entity controlled by Paul B. Manning, Verrica’s Chairman and largest shareholder, gives us access to additional non-dilutive capital to support YCANTH’s continued commercialization and advance our ongoing Phase 3 common warts program. Based on our current operating plan, we believe the full $27.5 million that may be available under the facility could extend our cash runway into 2028. We believe this quarter’s progress across our YCANTH business for molluscum and our pipeline programs, along with this extended cash runway, positions Verrica well to deliver long-term value for patients and shareholders."

Conference Call and Webcast Information

The Company will host a conference call on Thursday, August 6, 2026, at 4:30 pm, to discuss its second quarter 2026 financial results and provide a business update. To participate in the conference call, please utilize the following information:

Domestic Dial-In Number: Toll-Free: 1-800-225-9448

International Dial-In Number: 1-203-518-9708

Conference ID: VERRICA

Participants can use Guest dial-in #s above and be answered by an operator.

Webcast:

View Source;tp_key=a08a369194

The call will be broadcast live over the Web and can also be accessed on Verrica Pharmaceuticals’ website: www.verrica.com.

The conference call will also be available for replay for one month on the Company’s website in the Events Calendar of the Investors section.

Business Highlights and Recent Developments

YCANTH (VP-102)

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During the second quarter of 2026, YCANTH dispensed applicator units totaled 19,626, representing a year-over-year increase of approximately 46% from the second quarter of 2025. On a sequential basis, YCANTH dispensed applicator units increased approximately 28% from the prior quarter.
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On June 22, 2026, the Company announced that the first U.S. patient was dosed in the second pivotal clinical trial (COVE-3) in its global Phase 3 program evaluating YCANTH (VP-102) for the treatment of common warts in the US and Japan. Based upon current projections, the Company expects to present topline data from the program in mid-2027.

VP-315
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On May 5, 2026, the Company announced the presentation of Phase 2 clinical data highlighting the potential abscopal effects of its novel oncolytic peptide, VP-315 (ruxotemitide), for the treatment of basal cell carcinoma (BCC) at the 2026 Society for Investigative Dermatology (SID) Annual Meeting.

Corporate

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On August 6, 2026, the Company announced that it has entered into a credit agreement (the "Facility") with an entity controlled by Paul B. Manning, Verrica’s Chairman and largest shareholder for up to $27.5 million.

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On July 21, 2026, the Company announced an exclusive distribution, marketing and supply agreement with Medomie Pharma Ltd., regarding commercial rights to YCANTH for the treatment of molluscum contagiosum in Israel.

Financial Results

Second Quarter 2026 Financial Results

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Total revenue for the three months ended June 30, 2026, was $5.9 million compared to total revenue of $12.7 million for the three months ended June 30, 2025.

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U.S. YCANTH product revenue, net was $5.1 million for the quarter ended June 30, 2026, compared to net product revenue of $4.5 million for the quarter ended June 30, 2025. The increase in product revenue, net, was primarily related to increased deliveries of YCANTH to our distribution partners.

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License and collaboration revenue was $0.8 million for the quarter ended June 30, 2026, consisting primarily of commercial supply for Torii’s YCANTH launch in Japan, compared to license and collaboration revenue from Torii of $8.2 million for the three months ended June 30, 2025, which included $8.0 million of one-time milestone revenue.

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Costs of product revenue were $0.4 million for the quarter ended June 30, 2026, compared to $0.3 million for the quarter ended June 30, 2025, consisting primarily of product costs related to the sale of YCANTH.

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Selling, general and administrative expenses were $10.3 million for the quarter ended June 30, 2026, compared to $8.9 million for the same period in 2025. Excluding the impact of stock-based compensation, the increase of $1.3 million was primarily due to increased commercial spend, related to the expansion of the sales force.

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Research and development expenses were $6.0 million for the quarter ended June 30, 2026, compared to $1.8 million for the same period in 2025. Excluding the impact of stock-based compensation, the increase of $4.1 million was primarily attributable to costs associated with the Phase 3 program for common warts. The expense for the Phase 3 common warts program did not impact Verrica’s cash balance, as the first $40 million of payments for this program will be made by Torii under the Company’s collaboration and license agreement.

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Expense of $1.7 million was recognized during the quarter ended June 30, 2026, as an agreement in principle was reached to settle legal proceedings related to a class action brought against the Company in 2022. The expense represents Verrica’s share of the settlement after the insurance recovery.

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Interest income was $0.1 million for the quarter ended June 30, 2026, compared to $0.2 million for the quarter ended June 30, 2025. The decrease in interest income was primarily due to lower cash balances.

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Interest expense was $0.2 million for the quarter ended June 30, 2026, compared to $2.1 million for the same period in 2025. The decrease of $2.0 million was related to the settlement and termination of the Company’s OrbiMed debt facility in November 2025.
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For the quarter ended June 30, 2026, net loss was $13.2 million, or $0.62 per share, compared to a net income of $0.2 million, or $0.02 per share, for the same period in 2025.

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For the quarter ended June 30, 2026, non-GAAP net loss was $10.2 million, or $0.48 per share, compared to a non-GAAP net income of $1.2 million, or $0.12 per share, for the same period in 2025.

Year-to-date Financial Results

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Product revenue, net was $9.4 million for the six months ended June 30, 2026, compared to $8.0 million for the six months ended June 30, 2025.

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License and collaboration revenue was $1.5 million for the six months ended June 30, 2026, compared to $8.2 million for the six months ended June 30, 2025. License and collaboration revenue for the six months ended June 30, 2026 consisted of supplies and development activity with Torii. License and collaboration revenue for the six months ended June 30, 2025 consisted of a one-time $8.0 million milestone payment from Torii as well as supplies and development activity.

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Costs of product revenue were $1.0 million for the six months ended June 30, 2026, compared to $0.8 million for the six months ended June 30, 2025.

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Selling, general and administrative expenses were $20.3 million in the six months ended June 30, 2026, compared to $17.7 million for the same period in 2025. Excluding the impact of stock compensation, the increase of $2.6 million was primarily due to increased commercial spend related to the expansion of the sales force.

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Research and development expenses were $9.9 million in the six months ended June 30, 2026, compared to $4.1 million for the same period in 2025. Excluding the impact of stock compensation, the increase of $5.6 million was primarily due to increased costs related to the Program for common warts.

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Expense of $1.7 million was recognized during the six months ended June 30, 2026, as an agreement in principle was reached to settle legal proceedings related to a class action brought against the Company in 2022. The expense represents Verrica’s share of the settlement after the insurance recovery.

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Interest income was $0.3 million for the six months ended June 30, 2026, compared to $0.6 million for the same period in 2025. The decrease of $0.3 million was primarily due to a lower cash balance.

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Interest expense was $0.3 million for the six months ended June 30, 2026, and $4.3 million for the same period in 2025. The decrease of $4.0 million was related to the settlement of the OrbiMed Loan Facility and the termination of the OrbiMed Credit Agreement in November 2025.

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For the six months ended June 30, 2026, net loss was $22.8 million, or $1.07 per share, compared to a net loss of $9.5 million, or $1.01 per share, for the same period in 2025.

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For the six months ended June 30, 2026, non-GAAP net loss was $19.0 million, or $0.89 per share, compared to a non-GAAP net loss of $7.1 million, or $0.75 per share, for the same period in 2025.

(Press release, Verrica Pharmaceuticals, AUG 7, 2026, View Source [SID1234669876])