Verrica Pharmaceuticals Inc. VRCA
We are a therapeutics company developing and commercializing medications for the treatment of dermatologic diseases, including skin cancers. Currently, our commercial product and portfolio of product candidates are clinician administered therapies in areas of high unmet need. This product portfolio consists of one product with an approved indication for molluscum contagiosum, or molluscum, with the potential for several follow-on indications, as well as additional pipeline product candidates. Our commercial product, YCANTH (VP-102), was approved by the U.S. Food and Drug Administration, or FDA, in July 2023 for the treatment of molluscum in adult and pediatric patients two years of age and older. YCANTH (VP-102) is a proprietary drug-device combination that contains a GMP-controlled formulation of cantharidin. We are currently developing YCANTH (VP-102) for a potential follow-on indication for the treatment of common warts. Our second development candidate, VP-315 (ruxotemitide), is an oncolytic peptide-based injectable therapy for the potential treatment of dermatology oncologic conditions, including basal cell carcinoma, or BCC.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35.6M | $7.6M | $5.1M | $9.0M | $12.0M | — | — | — | — | — |
| Cost of revenue | — | $2.6M | $500.0K | — | — | — | — | — | — | — |
| Gross profit | — | $5.0M | $4.6M | — | — | — | — | — | — | — |
| R&D | $8.9M | $11.8M | $4.5M | $12.2M | $15.9M | $15.7M | $15.4M | $12.8M | $3.7M | — |
| SG&A | $35.2M | $58.8M | $47.3M | $17.4M | $27.0M | $24.5M | $14.6M | $9.1M | $727.0K | — |
| Total operating expenses | $47.8M | $73.5M | $70.9M | $30.3M | $42.9M | $40.2M | $30.1M | $21.9M | $4.5M | — |
| Operating income | -$12.2M | -$65.9M | -$65.8M | -$21.3M | -$30.9M | -$40.2M | -$30.1M | -$21.9M | -$4.5M | — |
| Interest expense | $7.7M | $9.4M | $4.0M | $2.2M | $4.3M | $3.0M | — | — | — | — |
| Pre-tax income | -$17.9M | -$76.6M | -$67.0M | -$24.5M | — | — | — | — | — | — |
| Income tax | $0 | $0 | $0 | $0 | — | — | — | — | — | — |
| Net income | -$17.9M | -$76.6M | -$67.0M | -$24.5M | -$35.1M | -$42.7M | -$28.2M | -$20.6M | -$4.5M | — |
| EPS, basic | -1.68 | -14.78 | -1.48 | -0.72 | -1.30 | — | — | — | — | — |
| EPS, diluted | -1.68 | -14.78 | -1.48 | -0.72 | -1.30 | -1.71 | -1.13 | -1.41 | -1.56 | — |
| Shares, diluted (wtd. avg.) | 10.7M | 5.2M | 45.3M | 34.2M | 27.0M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $30.1M | $46.3M | $69.5M | $34.3M | $15.8M | $10.7M | $9.2M | $10.3M | $8.7M | $527.0K |
| Short-term investments | — | — | — | $0 | $0 | — | — | — | — | — |
| Receivables | $5.3M | $48.0K | $4.2M | $0 | — | — | — | — | — | — |
| Inventory | $2.2M | $2.5M | $1.0M | $0 | — | — | — | — | — | — |
| Total current assets | $42.5M | $51.2M | $77.5M | $39.1M | $74.3M | $67.7M | $65.0M | $91.2M | $9.1M | — |
| Property, plant and equipment | $209.0K | $589.0K | $1.1M | $3.9M | $3.9M | $3.1M | $2.1M | $255.0K | — | — |
| Total assets | $47.1M | $54.1M | $81.6M | $44.7M | $80.1M | $74.2M | $68.4M | $91.9M | $9.1M | — |
| Accounts payable | $2.1M | $1.9M | $2.5M | $507.0K | $845.0K | $348.0K | $1.2M | $922.0K | $153.0K | — |
| Short-term debt | $0 | $12.9M | $0 | $0 | $41.7M | $35.3M | — | — | — | — |
| Total current liabilities | $16.4M | $29.0M | $17.0M | $3.5M | $46.1M | $39.5M | $3.4M | $2.5M | $616.0K | — |
| Long-term debt | $0 | $31.0M | $42.9M | $0 | — | — | — | — | — | — |
| Total liabilities | $22.4M | $64.0M | $61.8M | $4.7M | $47.5M | $41.2M | $3.4M | $2.5M | $616.0K | — |
| Retained earnings | -$324.9M | -$307.0M | -$230.4M | -$163.5M | -$139.0M | -$103.9M | -$61.2M | -$33.1M | -$12.4M | — |
| Total equity | $24.7M | -$9.9M | $19.8M | $40.0M | $32.6M | $33.0M | $65.0M | $89.4M | -$7.0M | -$2.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$17.6M | -$60.9M | -$38.6M | -$18.6M | -$27.6M | -$30.2M | -$27.4M | -$17.9M | -$4.6M | — |
| Depreciation and amortisation | $133.0K | $342.0K | $530.0K | $454.0K | $244.0K | $43.0K | $64.2K | $20.3K | — | — |
| Capital expenditure | $0 | $27.0K | $362.0K | $302.0K | $883.0K | $1.5M | $682.0K | $774.0K | — | — |
| Investing cash flow | $0 | -$19.0K | -$362.0K | $54.0M | -$998.0K | -$3.6M | $26.0M | -$79.9M | — | — |
| Financing cash flow | $1.4M | $37.7M | $74.2M | -$16.9M | $33.6M | $35.2M | $423.0K | $99.4M | $12.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-163961.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | $12.0M | $9.0M | $5.1M | $7.6M | $35.6M |
| Gross profit | — | — | — | — | — | — | — | $4.6M | $5.0M | — |
| Net income | — | -$4.5M | -$20.6M | -$28.2M | -$42.7M | -$35.1M | -$24.5M | -$67.0M | -$76.6M | -$17.9M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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