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VRCA

Verrica Pharmaceuticals Inc.

VRCA

Verrica Pharmaceuticals Inc. • NASDAQ
$9.10 ▲ 35.62% (+2.39)
Market Cap $86.36 M
52w High $13.20
52w Low $3.28
Dividend Yield 0%
P/E -3.17
Volume 1.91M
Outstanding Shares 9.49M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $14.344M ▲ $11.608M ▲ $-274K ▼ -1.91% ▼ $-0.03 ▼ $2.004M ▼
Q2-2025 $12.702M ▲ $10.852M ▼ $204K ▲ 1.606% ▲ $0.021 ▲ $2.534M ▲
Q1-2025 $3.439M ▲ $11.146M ▲ $-9.742M ▲ -283.28% ▲ $-1.03 ▲ $-7.331M ▲
Q4-2024 $344K ▲ $11.129M ▼ $-16.202M ▲ -4.71K% ▼ $-2.41 ▲ $-13.6M ▲
Q3-2024 $-1.781M $18.488M $-22.86M 1.284K% $-4.88 $-20.142M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $21.097M ▲ $40.896M ▲ $57.936M ▲ $-17.04M ▲
Q2-2025 $15.396M ▼ $39.107M ▼ $56.591M ▼ $-17.484M ▲
Q1-2025 $29.595M ▼ $42.178M ▼ $60.754M ▼ $-18.576M ▼
Q4-2024 $46.329M ▲ $54.134M ▲ $63.994M ▼ $-9.86M ▲
Q3-2024 $22.959M $32.927M $66.978M $-34.051M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-274K ▼ $9.685M ▲ $0 $-3.984M ▲ $5.701M ▲ $9.685M ▲
Q2-2025 $204K ▲ $-10.044M ▲ $0 $-4.155M ▼ $-14.199M ▲ $-10.044M ▲
Q1-2025 $-9.742M ▲ $-12.677M ▲ $0 ▼ $-4.057M ▼ $-16.734M ▼ $-12.677M ▲
Q4-2024 $-16.202M ▲ $-16.064M ▼ $8K ▲ $39.426M ▲ $23.37M ▲ $-16.064M ▼
Q3-2024 $-22.86M $-8.558M $-16K $-397K $-8.971M $-8.574M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
License And Collaboration Revenue
License And Collaboration Revenue
 $0 ▲$0 ▲$10.00M ▲$10.00M ▲
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Collaboration
Collaboration
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Verrica is still essentially a development-stage company from a revenue perspective. Reported sales over the past several years are tiny and not yet enough to cover even a small fraction of operating costs. The business consistently posts operating losses and net losses, reflecting ongoing spending on research, clinical trials, and early commercialization. Losses have persisted over multiple years, which is typical for small biotech firms but means the company still depends on outside funding rather than its own profits.

Balance Sheet

Balance Sheet The balance sheet is small and quite lean, with most assets sitting in cash rather than in plants, equipment, or inventory. Debt is present and meaningful relative to the asset base, and shareholders’ equity recently slipped into negative territory, signaling cumulative losses have outweighed the original capital invested. This structure highlights financial fragility, though typical for a young biotech scaling up from R&D to commercialization. The announced new financing (not yet visible in the historical figures) should strengthen the cash position and help repair the equity base, but future capital needs remain a key risk to watch.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, showing that the company is burning cash each year to fund research and launch efforts. Capital spending is minimal, so nearly all cash usage comes from operating activities rather than big one‑time investments. Free cash flow closely tracks operating cash flow and is also negative, underscoring the ongoing need for external financing to sustain the pipeline and commercial build‑out until product sales can meaningfully ramp. The burn rate looks steady rather than exploding, but any delay in commercial traction or trial progress could put pressure on future funding needs.

Competitive Edge

Competitive Edge Verrica has carved out a clear niche in medical dermatology with a first‑in‑class, FDA‑approved treatment for molluscum contagiosum, a condition with no prior approved therapies. Its lead product combines a targeted drug formulation with a controlled applicator device, which differentiates it from older, less standardized treatments and gives it a first‑mover advantage. Intellectual property protection, regulatory exclusivity, and focus on pediatric and high‑unmet‑need segments create a meaningful moat for now. However, Verrica remains a small player in a large healthcare ecosystem, so it must execute well on physician education, reimbursement, and commercial scale while defending its position against future competitors and potential follow‑on products from larger pharma companies.

Innovation and R&D

Innovation and R&D The company’s strategy is highly innovation‑driven, built around proprietary drug‑device combinations and novel dermatologic therapies. YCANTH is being extended into additional indications like common warts, which could leverage the same technology platform and broaden the addressable market if trials succeed. VP‑315, an oncolytic peptide for skin cancer, represents a more ambitious move into dermatologic oncology with a differentiated, immune‑activating mechanism. These programs show strong scientific ambition but also carry typical biotech risks: clinical setbacks, regulatory uncertainty, timelines that can slip, and the possibility that some candidates never reach the market.

Summary

Verrica is a small, high‑risk, high‑potential biotech transitioning from pure R&D into early commercialization. Financially, it has minimal revenue, persistent losses, negative free cash flow, and a historically thin balance sheet, though recent fundraising should help extend its runway. Strategically, it benefits from a first‑in‑class approved product in an underserved dermatology niche, meaningful intellectual property, and a pipeline that can both deepen and broaden its franchise. The company’s future will largely depend on how quickly YCANTH sales scale, whether it can win additional indications, and how successfully it advances VP‑315 and other pipeline assets, all while managing cash prudently and navigating the usual clinical and regulatory uncertainties of biotech.

NEWS

November 24, 2025 · 8:00 AM UTC

Verrica Pharmaceuticals Announces Private Placement Financing of $50 Million to Retire Debt and Extend Cash Runway

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November 14, 2025 · 4:05 PM UTC

Verrica Pharmaceuticals Reports Third Quarter 2025 Financial Results

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November 10, 2025 · 8:00 AM UTC

Verrica Pharmaceuticals Presents New Data on VP-315 from its Phase 2 Clinical Trial in Basal Cell Carcinoma at the 40th Society for Immunotherapy of Cancer Annual Meeting

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October 24, 2025 · 11:00 AM UTC

Halper Sadeh LLC Encourages Verrica Pharmaceuticals, Inc. Shareholders to Contact the Firm to Discuss Their Rights

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October 20, 2025 · 4:05 PM UTC

Verrica Pharmaceuticals Receives Positive Feedback from the European Medicines Agency (EMA) Supporting a Clear Regulatory Path Forward to File for Approval of YCANTH® in the European Union

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