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Verrica Pharmaceuticals — Third Quarter 2026 Earnings Summary

  • Total revenue declined to $6.9 million from $14.3 million in Q3 2025, driven by the absence of a $10.0 million one-time milestone payment; U.S. YCANTH net product revenue rose 57.9% year-over-year to $5.7 million.
  • Net loss widened to $12.4 million ($0.58 per share) from $0.3 million in Q3 2025, primarily due to a $3.7 million non-cash charge for the Phase 3 common warts program and increased R&D expenses.
  • Cash runway extends into Q4 2027 based on current operations and full credit facility utilization, supported by a $15.0 million capital milestone unlocked on October 22, 2026.
  • Topline data for the first pivotal Phase 3 common warts trial (COVE-2) is expected in Q1 2027, with the second trial (COVE-3) data anticipated in mid-2027.
  • YCANTH enrollment is complete for COVE-2 and over 50% complete for COVE-3; an exclusive distribution agreement with Medomie Pharma Ltd. for Israel has been announced with regulatory filings underway.
Company
VERRICA PHARMACEUTICALS INC
Sector
Healthcare
Industry
Biotechnology