Verrica Q1 net loss narrows to $6.6M; raised $32.5M; YCANTH PDUFA July 23, 2023

Verrica Pharmaceuticals Inc.

2023-Q1 EPS reported -$0.15 revenue$37,000

Net loss of $6.6M ($0.15 GAAP EPS) vs $8.5M ($0.31) in Q1 2022; non-GAAP net loss $5.5M ($0.13).
Cash and equivalents $60.0M as of March 31, 2023; management expects runway into Q1 2024.
PDUFA goal date of July 23, 2023 for YCANTH (VP-102) for molluscum contagiosum; no FDA-approved therapy exists.
Raised $32.5M gross proceeds in February 2023 underwritten offering to support pre-commercial activities and VP-315 trial.
VP-315 advanced into Part 2 of Phase 2 study for basal cell carcinoma; Part 3 expected to start first half 2024.

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 the first quarter ended March 31, 2023 results: revenue $37,000, net income $6.6 million, EPS $0.15 per share.

Period: the first quarter ended March 31, 2023
Revenue: $37,000
Net income: $6.6 million
EPS: $0.15 per share
Result: reported results

Exact text from the filing

million underwritten offering of common stock and pre-funded warrants. Financial Results First Quarter 2023 Financial Results • Verrica recognized collaboration revenues of $37,000 in the first quarter of 2023 compared to $0.4 million for the same period in 2022 related to the Collaboration and License Agreement with Torii Pharmaceutical Col, Ltd (“Torii”).

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Source: SEC EDGAR

accession 0001193125-23-138946

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