Verrica Q3 net income $83K; reiterates VP-102 NDA resubmission in Q1 2023

Verrica Pharmaceuticals Inc.

2022-Q3 EPS reported -$0.58 revenue$8,964,000

Q3 GAAP net income of $83K ($0.00/sh) vs net loss of $12.8M in Q3 2021; non-GAAP net income $2.9M ($0.07/sh).
License revenue of $8.3M from Torii milestone; cash, equivalents and marketable securities total $39.5M.
Reiterates plan to resubmit NDA for VP-102 (molluscum contagiosum) in Q1 2023.
Phase 2 trial of VP-LTX-315 (basal cell carcinoma) Part 1 expected to conclude in Q1 2023.
R&D and G&A expenses declined vs prior year due to reduced headcount and lower CMC costs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Verrica Pharmaceuticals Inc. reported nine months ended September 30, 2022 results: revenue $9.0 million, net income net loss of $18.6 million, EPS $0.58 per share.

Period: nine months ended September 30, 2022
Revenue: $9.0 million
Net income: net loss of $18.6 million
EPS: $0.58 per share
Result: reported results

Exact text from the filing

million, or $0.40 per share, for the same period in 2021. Year-to-Date September 2022 Financial Results • Verrica recognized license revenues related to the Torii Agreement of $9.0 million for the nine months ended September 30, 2022 compared to $12.0 million for the same period in 2021. The current period license revenue was related to an $8.0 million milestone

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Verrica Pharmaceuticals Inc. reported the third quarter ended September 30, 2022 results: revenue $8.3 million, net income $83 thousand, EPS $0.00 per share.

Period: the third quarter ended September 30, 2022
Revenue: $8.3 million
Net income: $83 thousand
EPS: $0.00 per share
Result: reported results

Exact text from the filing

Part 1 (safety and dose escalation) is expected to conclude in Q1 2023. Financial Results Third Quarter 2022 Financial Results • Verrica recognized license revenues of $8.3 million for the three months ended September 30, 2022 and no license revenue for the same period in 2021 related to the Collaboration and License Agreement (the “Torii Agreement”) with

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Source: SEC EDGAR

accession 0001193125-22-279108

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