Verrica Pharmaceuticals Reports Quarterly 2025 Financial Results

Core Insights - Verrica Pharmaceuticals reported $3.4 million in revenue from YCANTH, driven by a record dispensing of over 10,000 applicator units in Q1 2025, marking a 16.7% increase from Q4 2024 [1][3][8] - The company is advancing its late-stage pipeline, including the completion of an end-of-Phase 2 meeting with the FDA for VP-315, a candidate for basal cell carcinoma, and progressing towards a global Phase 3 program for common warts (VP-102/YCANTH) in collaboration with Torii Pharmaceutical [1][3][9] Financial Performance - For Q1 2025, Verrica recognized product revenue of $3.4 million, with costs of product revenue at $0.4 million, leading to a net loss of $9.7 million or $0.10 per share, compared to a net loss of $20.3 million or $0.44 per share in Q1 2024 [12][20] - Selling, general, and administrative expenses decreased to $8.8 million from $16.3 million year-over-year, primarily due to reduced commercial activity costs [12][20] - Research and development expenses were $2.3 million in Q1 2025, down from $4.9 million in the same period last year, reflecting a decrease in clinical trial expenses for VP-315 [12][20] Business Developments - The company appointed Noah L. Rosenberg, M.D., as Chief Medical Officer, bringing extensive experience in clinical development and product launches [6][7] - Dr. Gavin Corcoran was appointed to the Board of Directors, contributing significant R&D leadership experience [7] Product Insights - YCANTH (VP-102) is the first FDA-approved treatment for molluscum contagiosum, with a strong demand reflected in the dispensing of 10,102 applicator units in Q1 2025 [8][14] - The company plans to provide additional genomic and immune response data for VP-315 in mid-2025, following a positive end-of-Phase 2 meeting with the FDA [9]