---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-193923"
form_type: "8-K"
ticker: "VRCA"
cik: "0001660334"
company_name: "Verrica Pharmaceuticals Inc."
filed_at: "2024-08-05T23:59:59+00:00"
generated_at: "2026-05-31T13:08:30.807610+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Verrica amends credit deal with OrbiMed; revenue test delayed, exit fee hiked, going concern waived

## Summary
- Revenue test under Credit Agreement now begins December 31, 2024, instead of earlier date.
- Lenders waived going concern qualification requirement for Q2 and Q3 2024 financial statements.
- Exit Fee on Initial Loans increased from 5.00% to 7.50%.
- YCANTH net revenue must meet specified thresholds to avoid principal payments under amended terms.
- Fifth Amendment modifies July 2023 Credit Agreement; other terms unchanged.

## SEC filing metadata
- accession: 0001193125-24-193923
- form_type: 8-K
- ticker: VRCA
- cik: 0001660334
- company_name: Verrica Pharmaceuticals Inc.
- filed_at: 2024-08-05T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1660334/000119312524193923/0001193125-24-193923-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1660334/000119312524193923/d856804d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-193923
- JSON: https://secwatch.observer/filing/0001193125-24-193923.json
- Plain text: https://secwatch.observer/filing/0001193125-24-193923.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.