Verrica Pharmaceuticals Inc
verrica.comWhat Do They Do?
Develops and sells clinician-administered dermatology medicines, including a topical molluscum treatment and potential treatments for warts and skin cancers, for dermatologists, pediatricians and other healthcare providers.
10-K for FY2025, filed Mar 11, 2026We are a therapeutics company developing and commercializing medications for the treatment of dermatologic diseases, including skin…View ↗
On July 21, 2023, YCANTH (VP-102) (cantharidin) 0.7% topical solution was the first product approved by the FDA for the treatment of…View ↗
We are also developing VP-315 for the treatment of BCC and potentially additional dermatological oncology indications. We obtained an…View ↗
How Do They Make Money?
License and collaboration revenue was 57% of revenue, from upfront license fees, milestones, supplies and services, and royalties on licensed-product sales. Product sales were 43% of revenue; wholesalers buy YCANTH, and Verrica counts product revenue when it is delivered.
10-K for FY2025, filed Mar 11, 2026The Company has generated collaboration revenue through its licensing and collaboration arrangements. The terms of the arrangements…View ↗
Up-front License Fees: If a license is determined to be distinct from the other performance obligations identified in the arrangement, the…View ↗
Milestone Payments: At the inception of an agreement that includes regulatory or commercial milestone payments, the Company evaluates…View ↗
The Company recognizes revenue from sales of a single product, YCANTH (VP-102) (the "Product") in accordance with ASC Topic 606 – Revenue…View ↗
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10-K for FY2025, filed Mar 11, 2026
FY2025 revenue by product or service ↗
$35.6M
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10-K for FY2025, filed Mar 11, 2026
$35.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product revenue, net
Sold outright
10-K for FY2025, filed Mar 11, 2026 |
43%
FY2022: 0.0%
|
Product revenue, net, FY2025
$15.3M Sources
|
Sold outright |
|
License and collaboration revenue
|
57% |
License and collaboration revenue, FY2025
$20.3M Sources
|
Who Are Their Customers?
Verrica sells YCANTH to pharmaceutical wholesalers and distributors, which supply clinics, hospitals and federal healthcare programs; physicians obtain it through retail or specialty pharmacies or buy-and-bill through distribution partners. Torii holds Japanese development and commercialization rights under a license.
10-K for FY2025, filed Mar 11, 2026The Company recognizes revenue from sales of a single product, YCANTH (VP-102) (the "Product") in accordance with ASC Topic 606 – Revenue…View ↗
Physicians obtain YCANTH (VP-102) in two primary ways: 1) through a "white bag" service from a retail independent or specialty pharmacy or…View ↗
On March 17, 2021, we entered into a collaboration and license agreement, or the Torii Agreement, with Torii pursuant to which we granted…View ↗
Do Revenues Turn Into Profits?
No. It lost $17.9M in FY2025.
10-K for FY2025, filed Mar 11, 2026
−$12.2MView ↗
10-K for FY2025, filed Mar 11, 2026
−$17.9MView ↗
10-K for FY2025, filed Mar 11, 2026
−$17.6MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$13.2MView ↗
- ▼ Now a loss
- vs $204K in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Aug 6, 2026
Verrica signed an exclusive YCANTH distribution deal in Israel
Verrica announced an agreement with Medomie Pharma for commercial rights to YCANTH for molluscum in Israel.
Sources
8-K, filed Aug 6, 2026
On July 21, 2026, the Company announced an exclusive distribution, marketing and supply agreement with Medomie Pharma Ltd., regarding…View ↗
Growing. Revenue grew 3.0x in 4 years, from $12M in FY2021 to $35.6M in FY2025, about 31% a year.
From development to sales
The older report described a wider development pipeline, including genital and plantar wart candidates. The latest report centers on commercializing the molluscum treatment, with development work focused on common warts and basal cell carcinoma.
10-K for FY2022, filed Mar 6, 2023 10-K for FY2025, filed Mar 11, 2026We are a dermatology therapeutics company developing medications for skin diseases requiring medical intervention. We are primarily focused…View ↗
In addition, we are also developing VP-102 for the treatment of external genital warts, or EGW. EGW is a viral skin disease caused by the…View ↗
VP-103 - Treatment of Plantar WartsView ↗
We are a therapeutics company developing and commercializing medications for the treatment of dermatologic diseases, including skin…View ↗
We are also developing YCANTH (VP-102) for the treatment of common warts. Common warts typically result in greater than one lesion. We…View ↗
We are also developing VP-315 for the treatment of BCC and potentially additional dermatological oncology indications. We obtained an…View ↗
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