---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-032003"
form_type: "8-K"
ticker: "VRCA"
cik: "0001660334"
company_name: "Verrica Pharmaceuticals Inc."
filed_at: "2025-02-21T23:59:59+00:00"
generated_at: "2026-05-26T06:58:19.844574+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Verrica enters lender waiver of going concern covenants for FY2024, Q1 2025

## Summary
- Lenders waive covenant requiring no going concern qualification in Dec 2024 and Mar 2025 financials.
- Waiver is with OrbiMed Royalty & Credit Opportunities IV, LP under Credit Agreement dated July 2023.
- Remaining terms of Credit Agreement unchanged; waiver filed with 10-K.
- This indicates auditor likely issued going concern opinion, signaling potential financial distress.

## SEC filing metadata
- accession: 0001193125-25-032003
- form_type: 8-K
- ticker: VRCA
- cik: 0001660334
- company_name: Verrica Pharmaceuticals Inc.
- filed_at: 2025-02-21T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1660334/000119312525032003/0001193125-25-032003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1660334/000119312525032003/d812932d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-032003
- JSON: https://secwatch.observer/filing/0001193125-25-032003.json
- Plain text: https://secwatch.observer/filing/0001193125-25-032003.txt

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