VRCA

Interested in Verrica Pharmaceuticals Inc.? Here are five stocks we like better. YCANTH sales accelerated: U.S. net product revenue rose 18.7% sequentially to $5.1 million, while dispensed applicator units increased 28% to 19,626. Verrica also introduced $0 copay refills for eligible commercially insured patients to support continued adoption. Common-wart program advanced into pivotal testing: The second Phase III trial, COVE-3, began dosing, with top-line results from the broader program expected in mid-2027. Partner Torii is funding the first $40 million, or about 90% of the current trial budget. Cash resources improved despite a wider loss: Verrica posted a $13.2 million GAAP net loss as research, development and commercial expenses increased, but secured a non-dilutive credit facility of up to $27.5 million that management said could extend its cash runway into 2028. Verrica Pharmaceuticals (NASDAQ:VRCA) reported second-quarter revenue growth in its YCANTH treatment for molluscum contagiosum, while outlining progress in pivotal studies of the product for common warts and announcing a credit facility that management said could extend its cash runway into 2028. Chief Executive Officer Jayson Rieger said U.S. net product revenue for YCANTH reached $5.1 million in the quarter ended June 30, up 18.7% from the first quarter. Total revenue was $5.9 million, including $800,000 in license and collaboration revenue tied to the company’s partnership with Torii Pharmaceutical. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Dispensed YCANTH applicator units rose 28% sequentially to 19,626, accelerating from growth of more than 12% in the fourth quarter of 2025. Rieger said the increase reflected prescriber adoption and the commercial team’s efforts to retarget and segment the molluscum prescriber base. Chris Chapman, Verrica’s chief commercial officer, said the company had refocused its field force on physicians who both prescribe YCANTH and treat the relevant patient population. The company also has been reviewing its market-access and fulfillment strategies. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High During July, Verrica began offering $0 copay refills for eligible commercially insured patients, according to Rieger. He said the program is intended to reduce financial burdens for caregivers and help prescribers determine whether additional applicators are needed without access hurdles. Chapman said the company expects continued growth during the summer, although seasonal factors such as vacations could affect performance. He declined to provide specific commentary on gross-to-net pricing, but said Verrica expects its revenue yield to “continue to accrete over time” as it focuses on both volume and fulfillment optimization. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Second-quarter gross product margin was approximately 91.5%, compared with approximately 92.5% a year earlier. Cost of product revenue totaled $400,000, versus $300,000 in the prior-year period. Verrica is pursuing an expanded YCANTH label for common warts, which Rieger said affects about 22 million people in the U.S. The company believes the indication is more than three times the size of the molluscum patient population and noted there are currently no FDA-approved treatments for common warts. In June, Verrica and development partner Torii dosed the first patients in COVE-3, the second pivotal Phase III trial in the common warts program. Enrollment also continued in the first pivotal trial, COVE-2, and the long-term follow-up study, COVE-4. Rieger said all three studies were recruiting well and that the company expects top-line results from the program in mid-2027. Chief Medical Officer Noah Rosenberg said Verrica has not disclosed the studies’ powering assumptions, but stated that results in line with the company’s Phase II cohorts would put the program “in pretty good shape.” He added that investigators have shown strong interest in the trials because of the lack of approved common-wart therapies. Torii is funding the first $40 million of the global Phase III program, an amount Verrica said represents about 90% of the current trial budget. The companies are otherwise splitting program costs equally. Verrica said its share is expected to be funded through future commercial supply transfer payments, milestones and royalties associated with YCANTH sales in Japan. The company also announced an exclusive agreement with Medomie Pharma to distribute, market and supply YCANTH in Israel for molluscum. Medomie is preparing a regulatory submission, and Verrica will receive 60% of the net selling price from commercial sales, plus potential regulatory and commercial milestone payments of up to $8.2 million. Rieger said Verrica retains global rights to YCANTH outside Japan and Israel and continues to pursue additional international partnerships. Torii launched YCANTH in Japan earlier this year, with Verrica supplying applicators to the Japanese market. Separately, Verrica continues to prepare VP-315, its Phase III-ready oncology asset for basal cell carcinoma. At the Society for Investigative Dermatology annual meeting in May, the company presented Phase II findings involving nine subjects and 14 untreated, non-target basal cell lesions. Those untreated lesions showed an overall 67% reduction in size, and three achieved complete histological clearance, according to Rieger. The company is selecting a contract research organization and manufacturing Phase III clinical supplies for VP-315 following what it characterized as favorable FDA feedback on the planned registration program. Verrica reported a GAAP net loss of $13.2 million, or $0.62 per share, compared with net income of $200,000, or $0.02 per share, in the second quarter of 2025. The prior-year revenue figure included an $8 million one-time milestone payment. Research and development expense increased to $6 million from $1.8 million a year earlier, primarily reflecting costs related to the common warts program, excluding stock-based compensation. Selling, general and administrative expense rose to $10.3 million from $8.9 million, driven primarily by commercial spending associated with an expanded sales force. The company also recognized $1.7 million of expense related to an agreement in principle to settle a 2022 class-action legal proceeding, net of insurance recovery. On a non-GAAP basis, Verrica reported a second-quarter net loss of $10.2 million, or $0.48 per share, compared with non-GAAP net income of $1.2 million, or $0.12 per share, a year earlier. As of June 30, Verrica had $11.2 million in cash. The company announced a non-dilutive credit facility of up to $27.5 million from an entity controlled by Chairman and largest shareholder Paul Manning. Verrica may borrow up to $12.5 million immediately, with another $15 million available upon specified revenue-growth and operational milestones that it aims to meet before the end of 2026. David Zawitz, chief operating officer, said the secured facility carries interest at SOFR plus 8%, subject to a 4.5% SOFR floor, and has no scheduled principal or interest payments before its December 2030 maturity. Management said it intends to draw on the facility selectively as needed. Verrica Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of topical therapies for dermatological conditions. Its lead investigational product, VP-102, is a standardized formulation of cantharidin in a pre-measured applicator designed to treat molluscum contagiosum and common warts. Verrica's approach emphasizes consistency of dosing and patient convenience, aiming to improve upon off‐label use of existing treatments. Beyond VP-102, Verrica is advancing VP-103, a next‐generation topical candidate intended to optimize tolerability while maintaining efficacy against viral skin lesions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Verrica Pharmaceuticals Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

– Company reports record demand for YCANTH® as dispensed applicator units grew to 19,626 in Q2 2026, up 28.3% over the previous quarter and 46.1% year-over-year – – Topline data from global Phase 3 program studying common warts currently expected in mid-2027 – – The Company’s cash runway could extend into 2028 based on its current operating plan and assuming full availability of its new credit facility – – Company reports total revenue of $5.9 million in Q2 2026, including U.S. YCANTH net product revenue of $5.1 million, up 18.7% over the previous quarter and 12.3% year-over-year – – Conference call scheduled for today, August 6, 2026, at 4:30 pm ET – WEST CHESTER, Pa., Aug. 06, 2026 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica” or the “Company”) (Nasdaq: VRCA), a therapeutics company developing and commercializing medications for the treatment of dermatological diseases, including skin cancers, today announced financial results for the second quarter ended June 30, 2026. “Demand for YCANTH continues to accelerate, with dispensed applicator units reaching 19,626 for the quarter, up approximately 28% sequentially and 46% on a year-over-year basis, and representing our highest quarterly total since launch. We believe that our commercial strategy is working well and provides us with a growing confidence that YCANTH can become the standard of care for patients suffering from molluscum,” said Jayson Rieger, PhD, MBA, President and Chief Executive Officer of Verrica. “In addition to our commercial efforts, we also continue to make progress with our work to expand the label for YCANTH to include common warts, an indication that is more than three times the six million patients estimated to be suffering from molluscum. Topline data from our global Phase 3 program is currently expected in mid-2027, as our studies are recruiting well. We continue to enroll patients in the first pivotal study, COVE-2, and first patients in the U.S. and Japan were dosed in the second pivotal trial, COVE-3, during the quarter,” Dr. Rieger continued. “With respect to our basal cell carcinoma program, we remain highly encouraged by the Phase 2 data for our novel oncolytic peptide, VP-315. At the Society for Investigative Dermatology Annual Meeting in May, VP-315 demonstrated a potential ability to impact both treated lesions, as well as showing evidence of a meaningful abscopal effect in untreated lesions. Based on the unique and promising profile of this Phase 3-ready asset, we are continuing our Phase 3 readiness activities.” Dr. Rieger concluded, “Finally, our new credit facility for up to $27.5 million with an entity controlled by Paul B. Manning, Verrica’s Chairman and largest shareholder, gives us access to additional non-dilutive capital to support YCANTH’s continued commercialization and advance our ongoing Phase 3 common warts program. Based on our current operating plan, we believe the full $27.5 million that may be available under the facility could extend our cash runway into 2028. We believe this quarter’s progress across our YCANTH business for molluscum and our pipeline programs, along with this extended cash runway, positions Verrica well to deliver long-term value for patients and shareholders.” Conference Call and Webcast InformationThe Company will host a conference call on Thursday, August 6, 2026, at 4:30 pm, to discuss its second quarter 2026 financial results and provide a business update. To participate in the conference call, please utilize the following information: Domestic Dial-In Number: Toll-Free: 1-800-225-9448International Dial-In Number: 1-203-518-9708Conference ID: VERRICA Participants can use Guest dial-in #s above and be answered by an operator. Webcast:https://viavid.webcasts.com/starthere.jsp?ei=1766684&tp_key=a08a369194 The call will be broadcast live over the Web and can also be accessed on Verrica Pharmaceuticals’ website: www.verrica.com.The conference call will also be available for replay for one month on the Company’s website in the Events Calendar of the Investors section. Business Highlights and Recent DevelopmentsYCANTH® (VP-102) During the second quarter of 2026, YCANTH dispensed applicator units totaled 19,626, representing a year-over-year increase of approximately 46% from the second quarter of 2025. On a sequential basis, YCANTH dispensed applicator units increased approximately 28% from the prior quarter. On June 22, 2026, the Company announced that the first U.S. patient was dosed in the second pivotal clinical trial (COVE-3) in its global Phase 3 program evaluating YCANTH® (VP-102) for the treatment of common warts in the US and Japan. Based upon current projections, the Company expects to present topline data from the program in mid-2027. VP-315 On May 5, 2026, the Company announced the presentation of Phase 2 clinical data highlighting the potential abscopal effects of its novel oncolytic peptide, VP-315 (ruxotemitide), for the treatment of basal cell carcinoma (BCC) at the 2026 Society for Investigative Dermatology (SID) Annual Meeting. Corporate On August 6, 2026, the Company announced that it has entered into a credit agreement (the “Facility”) with an entity controlled by Paul B. Manning, Verrica’s Chairman and largest shareholder for up to $27.5 million. On July 21, 2026, the Company announced an exclusive distribution, marketing and supply agreement with Medomie Pharma Ltd., regarding commercial rights to YCANTH® for the treatment of molluscum contagiosum in Israel. Financial Results Second Quarter 2026 Financial Results Total revenue for the three months ended June 30, 2026, was $5.9 million compared to total revenue of $12.7 million for the three months ended June 30, 2025. U.S. YCANTH product revenue, net was $5.1 million for the quarter ended June 30, 2026, compared to net product revenue of $4.5 million for the quarter ended June 30, 2025. The increase in product revenue, net, was primarily related to increased deliveries of YCANTH to our distribution partners. License and collaboration revenue was $0.8 million for the quarter ended June 30, 2026, consisting primarily of commercial supply for Torii’s YCANTH launch in Japan, compared to license and collaboration revenue from Torii of $8.2 million for the three months ended June 30, 2025, which included $8.0 million of one-time milestone revenue. Costs of product revenue were $0.4 million for the quarter ended June 30, 2026, compared to $0.3 million for the quarter ended June 30, 2025, consisting primarily of product costs related to the sale of YCANTH. Selling, general and administrative expenses were $10.3 million for the quarter ended June 30, 2026, compared to $8.9 million for the same period in 2025. Excluding the impact of stock-based compensation, the increase of $1.3 million was primarily due to increased commercial spend, related to the expansion of the sales force. Research and development expenses were $6.0 million for the quarter ended June 30, 2026, compared to $1.8 million for the same period in 2025. Excluding the impact of stock-based compensation, the increase of $4.1 million was primarily attributable to costs associated with the Phase 3 program for common warts. The expense for the Phase 3 common warts program did not impact Verrica’s cash balance, as the first $40 million of payments for this program will be made by Torii under the Company’s collaboration and license agreement. Expense of $1.7 million was recognized during the quarter ended June 30, 2026, as an agreement in principle was reached to settle legal proceedings related to a class action brought against the Company in 2022. The expense represents Verrica’s share of the settlement after the insurance recovery. Interest income was $0.1 million for the quarter ended June 30, 2026, compared to $0.2 million for the quarter ended June 30, 2025. The decrease in interest income was primarily due to lower cash balances. Interest expense was $0.2 million for the quarter ended June 30, 2026, compared to $2.1 million for the same period in 2025. The decrease of $2.0 million was related to the settlement and termination of the Company’s OrbiMed debt facility in November 2025. For the quarter ended June 30, 2026, net loss was $13.2 million, or $0.62 per share, compared to a net income of $0.2 million, or $0.02 per share, for the same period in 2025. For the quarter ended June 30, 2026, non-GAAP net loss was $10.2 million, or $0.48 per share, compared to a non-GAAP net income of $1.2 million, or $0.12 per share, for the same period in 2025. Year-to-date Financial Results Product revenue, net was $9.4 million for the six months ended June 30, 2026, compared to $8.0 million for the six months ended June 30, 2025. License and collaboration revenue was $1.5 million for the six months ended June 30, 2026, compared to $8.2 million for the six months ended June 30, 2025. License and collaboration revenue for the six months ended June 30, 2026 consisted of supplies and development activity with Torii. License and collaboration revenue for the six months ended June 30, 2025 consisted of a one-time $8.0 million milestone payment from Torii as well as supplies and development activity. Costs of product revenue were $1.0 million for the six months ended June 30, 2026, compared to $0.8 million for the six months ended June 30, 2025. Selling, general and administrative expenses were $20.3 million in the six months ended June 30, 2026, compared to $17.7 million for the same period in 2025. Excluding the impact of stock compensation, the increase of $2.6 million was primarily due to increased commercial spend related to the expansion of the sales force. Research and development expenses were $9.9 million in the six months ended June 30, 2026, compared to $4.1 million for the same period in 2025. Excluding the impact of stock compensation, the increase of $5.6 million was primarily due to increased costs related to the Program for common warts. Expense of $1.7 million was recognized during the six months ended June 30, 2026, as an agreement in principle was reached to settle legal proceedings related to a class action brought against the Company in 2022. The expense represents Verrica’s share of the settlement after the insurance recovery. Interest income was $0.3 million for the six months ended June 30, 2026, compared to $0.6 million for the same period in 2025. The decrease of $0.3 million was primarily due to a lower cash balance. Interest expense was $0.3 million for the six months ended June 30, 2026, and $4.3 million for the same period in 2025. The decrease of $4.0 million was related to the settlement of the OrbiMed Loan Facility and the termination of the OrbiMed Credit Agreement in November 2025. For the six months ended June 30, 2026, net loss was $22.8 million, or $1.07 per share, compared to a net loss of $9.5 million, or $1.01 per share, for the same period in 2025. For the six months ended June 30, 2026, non-GAAP net loss was $19.0 million, or $0.89 per share, compared to a non-GAAP net loss of $7.1 million, or $0.75 per share, for the same period in 2025. Non-GAAP Financial Measures In evaluating the operating performance of its business, Verrica’s management considers non-GAAP (loss) income from operations, non-GAAP net (loss) income and non-GAAP net (loss) income per share. These non-GAAP financial measures exclude stock-based compensation expense and non-cash interest expense that are required by GAAP. Verrica excludes non-cash stock-based compensation expense from these non-GAAP measures to facilitate comparison to peer companies who also provide similar non-GAAP disclosures and because it reflects how management internally manages the business. In addition, Verrica excludes non-cash interest expense from these non-GAAP measures to facilitate an understanding of the effects of the debt service obligations on the Company’s liquidity and comparisons to peer group companies who also provide similar non-GAAP disclosures and because it is reflective of how management internally manages the business. Verrica also excludes certain other one-time expenses and impacts from change in fair value of derivative liability and legal settlement, net of insurance recovery. Non-GAAP (loss) income from operations, non-GAAP net (loss) income and non-GAAP net (loss) income per share should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. Non-GAAP (loss) income from operations, non-GAAP net (loss) income and non-GAAP net (loss) income per share have been reconciled to the nearest GAAP measure in the tables following the financial statements in this press release. About YCANTH® (VP-102) YCANTH® is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin delivered via a single-use applicator that allows for precise topical dosing and targeted administration for the treatment of molluscum. YCANTH is the first and only healthcare professional-administered product approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum — a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. Approval of YCANTH was based upon the positive results from two Phase 3 clinical trials in approximately 500 patients which demonstrated that YCANTH was a safe and effective therapeutic for the treatment of molluscum. YCANTH is also approved for the treatment of molluscum contagiosum in Japan and is being studied in a global phase 3 program in the US and Japan for the treatment of common warts. Approximately 250 million lives are eligible to receive YCANTH covered by insurance. Commercially insured patients pay just $25 per YCANTH treatment visit, for up to two applicators. Other uninsured patients may be eligible to receive YCANTH at a reduced cost if certain eligibility requirements are met for patient assistance. Please visit YCANTHPro.com for additional information. About Verrica Pharmaceuticals Inc. Verrica is a therapeutics company developing and commercializing medications for the treatment of dermatological diseases, including skin cancers. Verrica’s product YCANTH® (VP-102) (cantharidin), is the first and only healthcare professional-administered treatment approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. YCANTH® (VP-102) is also in development to treat common warts, the largest remaining unmet need in medical dermatology. Verrica has also entered a worldwide license agreement with Lytix Biopharma ASA to develop and commercialize VP-315 (ruxotemitide, formerly known as LTX-315 and VP-LTX-315) for non-melanoma skin cancers including basal cell carcinoma and squamous cell carcinoma. For more information, visit www.verrica.com. Forward-Looking StatementsAny statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include statements about the commercialization of YCANTH, the clinical development and benefits of Verrica’s product candidates, including YCANTH (VP-102) and VP-315, the development and regulatory plans for YCANTH, the timing of release of clinical data from the Phase 3 studies of YCANTH for common warts, Verrica’s ability to borrow funds under the Facility, Verrica’s achievement of milestones set forth in the Facility, and the commercial performance of YCANTH in Israel. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include risks and uncertainties related to market conditions, and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2025, Verrica’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 to be filed with the SEC on August 6, 2026 and other filings Verrica makes with the SEC. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise. FOR MORE INFORMATION, PLEASE CONTACT: Investors: John KirbyInterim Chief Financial [email protected] Kevin GardnerLifeSci [email protected]

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved record YCANTH demand in Q1 2026, driven by accelerating adoption and the best monthly dispensed applicator totals in March and April. Attributed growth to successful commercial execution and the launch of YCANTH Rx, a non-dispensing pharmacy hub designed to simplify benefit investigations and triaging. Strategic expansion into Japan via partner Torii Pharmaceutical has begun generating commercial supply revenue, which offsets Verrica's clinical costs for the common wart program. Management noted that the presence of a second competitor in the molluscum market is acting as a tailwind by increasing overall disease awareness and 'share of voice'. Performance in early Q1 was partially tempered by severe winter weather on the East Coast and the annual reset of insurance deductibles, which impacted co-pay assistance costs. The company is transitioning from a 'watch-and-wait' market mentality to active treatment adoption as clinicians gain confidence in the product's safety and efficacy profile. Targeting the initiation of the second Phase III trial (COVE-3) for common warts by mid-2026, with sites planned in both the U.S. and Japan. Actively progressing toward a Marketing Authorization Application in the EU following positive feedback from the EMA that no further Phase III trials are required. Preparing for a Phase III program for VP-315 in basal cell carcinoma by securing clinical supplies and selecting a Contract Research Organization. Anticipating continued demand growth through the spring and summer months, supported by a planned sales force optimization to approximately 50 representatives. Current cash reserves of $20.6 million are projected to fund operations into the first quarter of 2027. The common wart program cost-sharing agreement with Torii Pharmaceutical covers approximately 90% of the current trial budget, significantly reducing Verrica's near-term capital requirements. Clinical results for VP-315 in Phase II demonstrated a 97% objective response rate, while separate market research indicates broad potential utilization and acceptance across stakeholders., suggesting potential as a first-line therapy to reduce surgical complexity. Management is actively evaluating potential commercialization partnerships for the EU market to optimize global access and shareholder value. The company maintains 100% global commercial rights to YCANTH outside of Japan and full global rights to VP-315 for non-metastatic skin cancers. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management is staffing to approximately 50 representatives to optimize reach and frequency in territories covering 85% of the total addressable market. The strategy involves moving beyond early-adopting dermatologists into the broader pediatric segment where 'watchful waiting' is the primary competitor. Early data showed reductions in untreated lesions, which management plans to validate in larger Phase III studies involving 100 patients each. This effect is particularly relevant for patients presenting with multiple lesions, potentially offering a non-surgical alternative or neoadjuvant approach. The hub is an optional tool for prescribers to assist with prior authorizations and benefit investigations, with adoption growing steadily since its Q4 2025 launch. Management declined to provide specific percentages but noted it is proving effective in improving the prescription-to-treatment conversion rate.

On Tuesday, Verrica Pharmaceuticals (NASDAQ:VRCA) discussed first-quarter financial results during its earnings call. The full transcript is provided below. This transcript is brought to you by Benzinga APIs. For real-time access to our entire catalog, please visit https://www.benzinga.com/apis/ for a consultation. Access the full call at https://viavid.webcasts.com/starthere.jsp?ei=1758586&tp_key=307852c58b Verrica Pharmaceuticals Inc reported a total revenue of $5 million for Q1 2026, with U.S. Wycanth product revenue increasing by 25.4% compared to Q1 2025. The company is advancing its global Phase 3 program for common warts, achieving over 50% enrollment in the first trial and planning to initiate a second trial by mid-2026. Verrica is working on expanding the availability of WYCANT globally, with recent launches in Japan and plans to submit for approval in the EU. The company introduced WycanthRx, a non-dispensing pharmacy, to improve access and fulfillment of prescriptions, which is seeing positive early adoption. Verrica's net loss for Q1 2026 was $9.7 million, with cash reserves expected to fund operations into Q1 2027. Management highlighted the potential of BP315 for basal cell carcinoma, emphasizing its strong Phase 2 results and ongoing market research to gauge reception. OPERATOR Good day ladies and gentlemen and welcome to Verrica Pharmaceuticals Inc first quarter 2026 earnings conference call. At this time, all participants are in a listen only mode. After the speaker's remarks, there will be a question and answer session. As a reminder, this conference is being recorded. I will now turn the call over to our host, Kevin Gardner of LifeSite Advisors. You may begin your conference. Kevin Gardner (Moderator) Thank you Operator. Hello everyone and welcome TO Verica Pharmaceuticals First Quarter 2026 Corporate Update Conference call. With me on the line this evening are Jason Rieger, President and Chief Executive Officer, Noah Rosenberg, Chief Medical Officer, John Kirby, Interim Chief Financial Officer, David Zawitz, Chief Operating Officer and Chris Chapman, Chief Commercial Officer. As a reminder, during today's call, management will make forward looking statements. These forward looking statements are based on the company's current expectations and involve inherent risks and uncertainties. Verrica's actual results and the timing of events could differ materially from those anticipated in. In such forward looking statements, please see Verica's SEC filings for important risk factors. Verica cautions you not to place undue reliance on forward looking statements and undertakes no duty or obligation to update any forward looking statements as a result of new information, future events or changes in expectations. In addition, during today's call, management will discuss certain non GAAP financial measures. These non GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with gaap. There are a number of limitations related to the use of these non GAAP financial measures compared to their closest GAAP equivalents. The earnings release that the company issued today includes GAAP to non GAAP reconciliations for these measures and is also available on the Investor Relations section of Verica's website. I'll now turn the call over to Verica's President and CEO Jason Rieger. Jason Rieger (President and Chief Executive Officer) Thank you, Kevin. Good evening everyone and thank you for joining us on our first quarter 2026 corporate update call. I am pleased to report that in the first quarter we saw accelerating growth in market demand for WYCANTT, setting new records for dispensed applicator units during the quarter and in the month of March. This growth continued after the end of the quarter as we observed further increased demand in April. WYCANTT also achieved another significant milestone in February as our partner, Tory Pharmaceutical launched WYCANTT in Japan for patients with molluscum following their regulatory approval last year. Our hope is that Japan is only the beginning of our global expansion efforts for WYCANTT as we are actively working to expand the availability of WYCANTT into new markets around the world. While we grow the WYCANTT business, we're also advancing our product portfolio. As you may recall, in January we announced that the first patient had been dosed in our global Phase three program for the treatment of common warts, which represents a critical milestone in our strategy to expand into new indications. I'm proud to announce that we have achieved more than 50% of the currently targeted enrollment in the first phase 3 trial, also known as COV2, and have begun enrolling patients in the long term follow up study in this program. Our target is to initiate the second Phase 3 trial, known as CoV3 in this program by mid-2026. We also continue to advance our Phase 3 ready asset, BP315 for the treatment of basal cell carcinoma. As we've begun efforts to secure clinical supplies and select a CRO to support initiation of the Phase 3 program, BP 315 is garnering increasing attention within the dermatology community. Based on compelling proof of concept data from our Phase II program, I'll now provide a detailed update on our WYCANTP commercial business. In the first quarter of 2026 we reported total revenue of $5 million, including U.S. wycamp product revenue of $4.3 million which was up 25.4% over the first quarter of 2025. First quarter, U.S. wicamp dispensed applicator units increased to 15,302, growing 51.3% over the 1st quarter of 2025. On a sequential basis, U.S. wicanth revenue and dispensed applicator units increased 15.3% and and 12.1% respectively compared to the 4th quarter of 2025. As noted in our last call in March, while demand for WYCANTT in January was likely impacted by severe winter weather across the east coast, demand accelerated sharply in February and continued into March which saw the best monthly dispensed applicator unit total since the launch of wicant. As we have now seen preliminary results for April, I am pleased to note that April dispensed applicator units also increased from March's then record level and our team worked diligently every day to help more healthcare providers treat molluscum with what we believe to be is the best treatment available. Licamp as we've noted in prior quarters, as we continue to prioritize the ease of access for healthcare providers and their patients, we continue to make substantial investments in our copay assistance program which is impacted during the first few months of each year by the annual reset of insurance plan deductibles in January. To ensure the broadest access to WYCANT for healthcare providers, we launched WycanthRx, our non dispensing pharmacy, in the fourth quarter of 2025. WycanthRx simplifies the process for both the healthcare provider and patient by performing an initial benefit investig and then triaging to an in network dispensing pharmacy based upon the patient's unique healthcare coverage. Although ycamp Rx is still in the early stage of rollout, is being well received and in our view will help further drive demand and coverage for wicanth. We would again like to congratulate Tory Pharmaceutical, now a subsidiary of Shinogi, on their February commercial launch of WYCANTT in Japan for patients with molluscum. This milestone reflects the culmination of significant efforts by many team members from both companies. The launch of WYCANTT in Japan means that the commercial supply we provide to Tori has begun to offset Erica's portion of the clinical costs for the CommonWART program. As we announced in February. We also brought on board Chris Chapman as our new Chief Commercial Officer in the first quarter. Chris and his team are already doing an outstanding job in optimizing our resources to maximize the productivity of the WYCANT commercial efforts. Finally, as noted on our fourth quarter call, the Committee for Medicinal Products for Human Use of the European Medicines Agency provided positive feedback that supports the filing of a marketing authorization application for WYCANT as a treatment for Molescam. With no further phase 3 clinical trials required for product approval, we are actively progressing through the next steps for submission in the eu. The EU represents a substantial market opportunity for wycamp and we look forward to evaluating potential commercialization partnerships in this large and underserved region. With respect to our pipeline, the Commonwealth and basal cell carcinoma clinical programs include continue to move ahead, representing what we believe can be multi billion dollar opportunities. As I mentioned, in December 2025 we dosed the first patient in the first phase 3 trial. CoV2 evaluating Wycan for CommonWARTS, which continues to enroll patients. The second phase 3 trial in the CommonWART program, CoV3 with sites in both the United States and Japan, is targeted to be initiated by mid2026. If the Phase 3 program is successful, Wicanth could become the first therapy ever approved in the United States and Japan to treat common warts, a condition that impacts over 22 million people in the US alone. As a reminder, Verica and TORI will split the cost of the program 5050 with Tori funding the first $40 million of trial costs, representing approximately 90% of the current trial budget. We expect to repay our portion by offsetting future transfer payments, milestones and royalties relating to wicant sales in Japan. As a reminder, all of the efforts we are undertaking for the commercialization of wicant for molluscum lay the foundation for ultimate commercialization for the Commonwealth indication if approved, and there will be significant overlap in the clinicians treating both molluscum and commonwealts with the ability to access the same applicator through the same distribution channels. With respect to VP315 for basal cell carcinoma, our program continues to drive strong interest with clinicians and patients alike as potential alternative approach to the existing surgical and non surgical options. In our phase 2 study, treatment with VP315 demonstrated a 97% objective response rate and an 86% reduction in overall tumor size, with more than half of the treated lesions achieving complete histological resolution. We continue to share additional data from the ongoing analysis of the results from the Phase two at scientific conferences. As reported last week, we will formally be presenting at the 2026 Society for Investigative Dermatology, or SID, at their annual meeting in Chicago later this week and will be sharing additional data regarding the abscopal like observations from the phase 2 study. With a strong scientific foundation from our phase 2 results and regulatory engagement. We have also recently completed several market research activities to better understand how VP315 would be received by various stakeholders. This work supports broad potential utilization and acceptance across general dermatologists, medical oncologists and MOHS surgeons as well as office managers and payers. We also conducted market research to evaluate the patient perspective which indicated that a substantial majority of patients would elect to try VP315 before other existing therapeutic options regardless of whether they had previously been treated for skin cancer. While the best outcome for patients is to completely eliminate the tumor, which we have observed in many patients, in our phase 2 study overall tumor size was reduced on an average by 86%, which we view as clinically meaningful. This highlights the potential for VP315 to improve the patient experience by reducing the size and potential complexity of future procedures, even where surgical excision is ultimately required in totality. This market research reinforces our conviction and enthusiasm for the potential of BP315 to change the paradigm for treatment of basal cell carcinoma. We continue to actively assess a variety of funding opportunities for this program and have initiated clinical and CMC activities to proactively prepare for the commencement of the Phase 3 program. As previously noted, Verica has retained 100% global commercial rights to WYCANT for all approved and potential indications outside of Japan, as well as full global rights to VP315 for non metastatic skin cancers, including basal cell and squamous cell carcinoma. These programs represent a robust opportunity for potential partnership to create shareholder value and optimize global access to patients that can benefit most from these medicines. I'll now turn over the call to our Interim Chief Financial Officer John Kirby to review our first quarter 2026 financials. John Kirby (Interim Chief Financial Officer) Thanks Jason. I'll now take a few minutes to summarize our financial Results for the first quarter ended March 31, 2026. Total revenue for the first quarter of 2026 was $5 million, consisting of 4.3 million of of U.S. net WYCANT revenue and $0.7 million of license and collaboration revenue associated with our TORY partnership, compared to $3.4 million of U.S. net WYCANT revenue and $17,000 of license and collaboration revenue in the first quarter of 2025. Net Wycan revenue in the first quarter of 2026 reflects shipments to our distribution partners offset by standard gross to net adjustments, including actual or anticipated product returns off invoice discounts, distribution fees, rebates and co pay assistance program expenses. Gross product Margins for the first quarter of 2026 were 87.3% compared to gross product margins of 87.6% compared to for the prior year period. Cost of product revenue for the first quarter of 2026 was $0.5 million versus $0.4 million for the prior year period, consisting primarily of product costs related to the sale of Wycamp Research and Development expenses of $3.9 million in the first quarter of 2026 increased by $1.5 million when excluding the impact of stock based compensation compared to $2.3 million in the first quarter of 2025 due to increased spend on the Commonwealth Program. Selling General and administrative expenses of $10 million in the first quarter of 2026 increased by $1.3 million when excluding the impact of stock based compensation compared to the expense of $8.8 million in the first quarter of 2025, driven primarily by increased commercial spend related to the expansion of our sales force. GAAP net loss was $9.7 million or $0.45 per share for the first quarter of 2026 compared to a gap net loss of $9.7 million or $1.03 per share for the first quarter of 2025 on a non GAAP basis, which excludes stock based compensation, non cash interest expense and change in fair value of embedded derivatives. The first quarter of 2026 net loss was $8.8 million or $0.41 per share, compared to a net loss of $8.3 million or $0.88 per share for the first quarter of 2025. And finally, as of March 31, 2026, Verica had aggregate cash of $20.6 million, which is expected to fund operations into the first quarter of 2027. I'll now turn the call back over to Jason for closing remarks. Jason Rieger (President and Chief Executive Officer) Thanks John we are steadfastly advancing our efforts to establish Wicamp as the new standard of care for molluscum and and are seeing traction with our strongest quarter in dispensed applicator units since launch. We are also positioning our company to fully capture the significant opportunities which lie ahead for our advanced stage pipeline if these programs successfully complete their development and are approved. Based on our Phase two data, the feedback from the dermatology community and alignment with the FDA on the Phase 3 program design, we believe BP315 truly has the potential to fundamentally change the treatment paradigm of basal cell carcinoma. In addition, the opportunity to expand WYCANT label into commonwealts would open in a new addressable patient population for which there currently remains no FDA approved therapies. We believe each of these two opportunities represent significant potential upside for our company and for our shareholders and we are excited about the future for Verica and the potential impacts for patients. With that, we'd be happy to answer your questions. OPERATOR Operator thank you. And if you would like to ask a question, please press Star one on your keypad. To leave the queue at any time, press Star 2. Once again, that is Star N1 to ask a question. We'll take our first question from Stacy Ku with TD Cowan. Please go ahead. Your line is open. Stacy Ku (Equity Analyst) Hey there, thanks so much for taking your questions. Congratulations on the enrollment progress for your Commonwealth program and also on the quarter for Y camp. First consensus for the year seems about be around kind of the mid 20 million kind of range to the extent that you can comment, but what are your views given what seems to be very encouraging growing demand in April? That's the first question. And then second, I know this can be a little location specific, but are you expecting to see seasonality with Molescom this year? And what are you doing to ensure you can capture any type of increased rates in the summertime, would you also assume the WICAN Prescription Hub services to start driving adoption and improving fulfillment around that timeframe? So that's the second question. The third is to get an update on the progress of expanding the sales force in regions that you're seeing good wide camp adoption. So just help us understand what you're seeing in terms of the additional stepwise expansion and if we should expect any additional updates with the salesforce to help us understand the progress when it comes to wide camp adoption. And also maybe potentially why can't access and then last, as you think about BP315, just maybe help us understand as you think about Phase three where you expect the product to be positioned in the BCC treatment paradigm, what type of patient profile for BCC would opt for a product like this? Thanks so much. Jason Rieger (President and Chief Executive Officer) Thank you Stacy. I appreciate it. I think I made good notes on all of your questions. I'll do my best, but I'm sure you'll correct me if I miss any Starting with the consensus, we're very excited about the progress we're making. We saw a good ending to the Q1 solid performance so far in April and we're excited about the prospects of the year. It's premature to give guidance at this point, so we're going to leave that number alone. But what we're seeing right now, it gives us confidence on the growth that we're seeing and the performance over the course of the year. But with regards to seasonality, depending on where you look and who you ask, there's all kinds of comments on when the seasonality would be. But overall I think there's general consensus to see growth as you enter the spring and summertime, and I think that's where we are right now and that could be contributing to some of the growth we're seeing. But a lot of it also comes down to the execution on the commercial side and the general adoption of WICAM that we're starting to see. And I'll let Chris comment a little more on your questions regarding the salesforce and the sales focus in a moment. But one of those tools that's certainly going to help and we're starting to see some adoption is the WycanthRx in our hub to help support the routing of scripts and importantly, fulfillment of scripts, facilitating it for the clinicians and the patients to make that access as easy as possible. I'll let Chris comment a few minutes on your question on the commercial side, and I'll round out the Wicam on 315. Chris Chapman (Chief Commercial Officer) Thank you, Stacy, for the question. And you know, as Jason mentioned in the opening, I joined in March and I've been very pleased with what I found in the organization. But there are areas for optimization. You mentioned the field force. Currently we are deployed and our territories do capture about 85% of the TAM. However, there are areas that we can optimize reach and frequency and we are going through kind of stem to stern reach and frequency exercise. We will be staffing to about approximately 50 representatives. There are numerous markets that could use additional manpower. And I think you're seeing in the momentum that we're building slight tweaks to our deployment and our execution are yielding some momentum. And I remain cautiously optimistic on that. But again, we're totally reevaluating our current targeting to optimize that reach and frequency, which again gives us the opportunity to optimize 85% that we're already deployed against. Jason Rieger (President and Chief Executive Officer) Thanks, Chris. And I'll let Noah comment a little bit on your question on VP315. Noah Rosenberg (Chief Medical Officer) In terms of our Phase 3 program, our initial approach is to target patients with low risk basal cell carcinoma that is nodular and superficial, and to target a similar population to what we saw in phase two. Those would be primary tumors. I think broadly beyond Phase three, I think it's important to also recognize that we see this as potentially long term a neoadjuvant approach for complex and difficult to treat tumors. And very excited about the obscopal data, which has some implication potentially for patients who often present with multiple lesions at initial presentation. Jason Rieger (President and Chief Executive Officer) Thanks, Noah, and thanks, Chris. To round that out, one of the feedback that we've generally seen from patients we've asked about their perspective on this treatment is those who are naive to ever having had treatment with basal cell or those who have had multiple basal cell experiences before, seem to be very receptive towards the potential of BP315 as a method to as their first line of therapy to try and see if they can reduce the size or perhaps eliminate the lesion. And that bodes well both for them as well as if you proceed down to Mohs or other procedures where that lesion is smaller and that surgical procedure would be simpler in terms of complication, potential scarring, side effects, et cetera. Stacy Ku (Equity Analyst) Super helpful, thank you as always. Georgia (for Dennis Ding) Thank you. We will move next with Dennis Dink with Jeffries, please. Go ahead. Hello, this is Georgia bank on the line for Dennis Ding. Thank you for taking your questions and congratulations on the quarter. I guess another question on the 315 program and on the SID data. I guess showing reductions in untreated lesions consistent with the potential upscopal effect. How are you thinking about validating that signal going forward? And how should we think about the opportunity of that market where patients might have multiple lesions versus just a single? And what would that look like? And then a follow up on the wicanth Rx pharmacy model and how it's performing today and what proportion of scripts are routed through that pharmacy. And what are you seeing in terms of differences in prescription to, you know, treatment conversions or reimbursement success rates and so on. Noah Rosenberg (Chief Medical Officer) So it's Noah here, I think in terms of the abscopal effect and the overall implications, the patient population, I think many patients present initially with multiple lesions. Often patients, especially those who've already had procedures, want a surgical alternative. So again, we see this as complementary to surgery, but in some cases patients may not want that surgery and in some cases they've got more than one lesion. So we believe that this data, while early and exploratory, is extremely encouraging in terms of validating that data. We plan, as we've mentioned, 2 larger studies, 100 patients each in phase 3. And we'll be able to explore and look at larger populations and look at that Episcopal effect. I think it's important to note that regardless of whether the patients were contralateral or they were nearby in terms of the lesions, we still saw effects broadly. And I think that was extremely encouraging and we're very excited to embark on that data. Georgia (for Dennis Ding) This is David Zawitz speaking on wecanthr X. THER X performance has been good in the early few months since we launched it. It's an option that we provide to the prescribers who are looking to write the product. It's not mandatory. They can choose to write it if they are looking for the additional help with benefits investigations and with potentially processing prior auths if they're required. And so far we've been improving the program throughout the quarter since the launch and it's been going well. We're not going to comment right now on sort of percentage of our total business that's running through that, but the adoption is growing and it's going to be proving to be a useful option for prescribers who are looking to use it. Understood. OPERATOR Thank you. Thank you. We will move next with Serge Bellinger with Needham company. Please go ahead. Your line is open. Georgia (for Dennis Ding) Good afternoon. Thanks for taking the questions. First one, I guess just on the 1Q performance, just trying to understand the variability from quarter to quarter in your gross to nets to reconcile the difference between the applicator unit growth and sales number. And then secondly, can you maybe just talk about competitors molluscum product that's currently in the market, whether it's been a headwind for why can't or maybe it's there's been a tailwind due to the additional voice in the market promoting molluscum. Thanks, George. Chris Chapman (Chief Commercial Officer) Thanks for the question. It's Chris Chapman. And you know, I think the variation certainly that you see between Q4 and Q1, you know, Q4, Q4 historically is the most valuable month for manufacturers. You know, most of the patients have cleared their deductibles and people are refilling their prescriptions. Q1, you do have the deductible reset. So I think we saw a little bit of that. But as I mentioned in my prior comments, you know, I'm really encouraged at the momentum that we saw coming out of Q1 into the first month of Q2. And there, there are a couple of reasons and they all relate to the questions that have been asked here. One is wycanthrx, which provides a useful option for those physicians who need some additional support. The other, as you mentioned, is having additional share of voice. Having a second competitor in the market driving recognition and choosing to treat molluscum is a huge opportunity that we certainly are taking advantage of. The third, as I mentioned, being new to Verica, is the opportunity to do some basic optimization on reach and frequency on your targets. And so I think those three areas. But again, I would anticipate you're continually going to see a synergistic effect of share of voice in the marketplace as well as those additional commercial levers that we're pulling. Expect to see more guidance as we get into Q3 and Q4. But right now, as I mentioned, cautiously optimistic, but impressed with the early results that we see. Thanks, Chris. Jason Rieger (President and Chief Executive Officer) And I said to follow up, what we've seen is this is a market dominated by a watch and wait mentality. And now that we have a clinical, a viable option for treatment, and we believe WCANCE really addresses the unmet need by one to two treatments on average for most patients to get to a resolution that they're happy with in terms of their disease, we believe that will continue adoption and convert those from watching to actually getting treated and awareness of the disease, and that there's therapies out there bodes well for our program. Thank you. OPERATOR Thank you. We will move next with Ram Silveradju with HC Wainwright. Please go ahead. Ram Silveradju (Equity Analyst) Thanks so much for taking our questions just with respect to Europe, could you maybe elaborate on how you anticipate reference pricing to shake out as and when the product ultimately becomes eligible for market entry? And also if you could give us a sense of post approval, what the country by country cadence might be, which countries are most likely to be first in line for wycan's introduction? Thank you. Thanks, Rob. I appreciate that you. We're still in the early stages of our Europe planning and strategy works. We have ongoing activities with regards to understanding pricing and pricing options and what reimbursement might look like there. We've explored that in a number of countries and we'll continue to share that information as it's ripe to do so. In terms of countries, we're planning to have broad access across the eu. Obviously there are some strategies on which countries may come first in that I would say we will probably be more consistent with traditional European rollouts, but we're going to evaluate that based on the feedback on a country by country basis and the addressable population as well as the pricing that may differentiate across those countries. But that work is ongoing in parallel to our work to complete the regulatory submission activities. Can you also just briefly comment on any underlying emergent trends among both unique prescribers and repeat prescribers of Wycans that you're seeing in the most recent data? Chris Chapman (Chief Commercial Officer) Yeah, I can speak to that. And we're seeing what you would expect to see. The dermatologists dominate the early adoption and you see that across classes. You also see it across competitors in this space. And as you would imagine, you're also seeing repeat prescribing in those earliest adopters. And as we continue to expand that prescriber pool, you see more and more pediatricians coming in. So clearly those are the two largest segments. But as you might imagine, dermatologists were the early adopters in molluscum in the selection to both diagnose and to treat and to retreat additional patients. Ram Silveradju (Equity Analyst) Thank you. OPERATOR Thank you. We will move next with Kemp Dolliver with Brookline Capital Markets. Please go ahead. Chris Chapman (Chief Commercial Officer) Great, thank you. What do you see as the gating factors behind demand? Now, if you look back over the history of the launch, there was reimbursement, there was compounded product in a lot of offices on the market. You know, what do you see as the key things you need to overcome at this stage? Assuming that those. The first couple things I mentioned have been resolved? Yeah, I don't know if I would, if I would call access resolve. Certainly we've achieved a steady state and a target access now we have the need to pull it through, you know, into the children accounts of the pbm. So there are still geographic opportunities for us to pull it through. But I think the real gating factor is what you kind of hear a theme in my answers here. It's appropriate targeting and segmentation. You know, of course we need to get that early adoption and we need to get trial. But as you get into the pediatric segment, as Jason mentioned, you know, the biggest competitor is watchful waiting. And it's not that molluscum is not seen. It's with the prior lack of approved, FDA approved medications, it wasn't treated. And so now the gating factor to us is to drive trial wycanth works. And when we see physicians trial it, they rewrite it. So for us, it's continuing to grow those prescribers concentrically out from the early adopters, from those deciles, tens, nines, eights, getting down into those lower decile physicians, which will take us in more into that pediatric segment. So that becomes the real unique opportunity here in the next three to four quarters. Kemp Dolliver (Equity Analyst) Kevin, add to that. Oh, go ahead, please. I was just going to say follow up on that last point. Have you looked at whether there's a correlation between seniority of physician and willingness to trial? When you mean seniority, can you. What do you mean by that? Age. I'm sorry? Age. Oh, interesting. Chris Chapman (Chief Commercial Officer) Because in medical schools they used to teach them not to worry about it when you look at the senior physicians, because there were no options. But yeah, not necessarily. But I will tell you this, where we do see some differential is your physician extenders, those on the front lines, in the trenches, your nurse practitioners, your PAs, they are very, very open to treating. And so I guess in a way, you know, you might be able to extrapolate that to age, but I think that's more of a relevant dynamic. Are the nurse extenders or physician extenders? But yeah, I really don't see it as age. But I will say, you know, dermatology as a whole is very familiar with Catheridin primary care. Less so. So I think the trial that we've seen early is to be expected. The adoption that we're now seeing in dermatology is to be expected and the opportunity remains as we expand out into pediatricians. Jason Rieger (President and Chief Executive Officer) And Kim, to follow up, two more points to address some of your comments. You know, we've spent the last year working on distribution and access and availability of the product for clinicians who want to treat. And this quarter you just, we just announced in our release which we crossed over 100,000 applicator that have been dispensed since launch. One of the things as Chris refers to the early adopters versus starting to expand beyond that you start to get a critical amount of adoption and utilization outside post clinical trials and that gives the later adopters and those who like to watch and take their time data to see that the safety profile is consistent with what we saw in the clinical studies, the efficacy is being consistent with what was seen. And so both of those things really bode well for those next wave of adopters to start to come aboard. And we've worked very hard to make it the access to be easy with our copay support, our medical education and just awareness of the product for treatment of Beloscope. Thank you. OPERATOR We will move next with Dev Prasad with Lucid Capital Markets. Please go ahead. Dev Prasad (Equity Analyst) Thank you for taking our caution and congrats on the progress. I have a couple one following up the last one, I'm not sure if you answered it or not, but are you seeing wycant growth primarily from new prescriber entering this launch curve or from higher utilization from existing high volume account and second is what are the next gating steps for EU submission and potential launch? Thank you. Chris Chapman (Chief Commercial Officer) Thanks for the question. And we're really seeing both those prescribers who trialed early are continuing to prescribe, but we are seeing a much quicker acceleration as we get into that early majority segment of the physician cohort. So I think we're going to continue we have to drive both. Of course when you do have a competitor come out, those earliest adopters are going to trial that brand which is a good thing. But we are seeing continued growth in both segments and we'll continue to focus on the highest deciles 10 through 8 to make sure that we have that secure as we continue to expand into the rest of the market. Jason Rieger (President and Chief Executive Officer) With regards to Europe, there's obviously a number of steps that you have to go through. We have received our initial scientific advice regarding the general scope of what a submission would look like for approval. Now we need to go through the process, for example securing pediatric investigation waivers, repertoire assignment, et cetera. And so we're going through that process now. And as indicated previously, Verica has retained global rights to white camp outside of the United outside the United States. Except for Japan which is controlled by Tory, we have those rights and you know we'll continue to explore that for a European partner to support both the commercialization process to address some of the earlier questions as well Great. Thank you. Yep. OPERATOR Thank you. And at this time, there are no further questions in queue. I will now turn the meeting back to CEO Jason Rieger for closing comments. Jason Rieger (President and Chief Executive Officer) Thank you, operator. And thank you, everyone, for your time and attention. I'd like to thank you for joining us this evening, and we look forward to providing more updates on our progress throughout 2026. Have a nice evening. Disclaimer: This transcript is provided for informational purposes only. While we strive for accuracy, there may be errors or omissions in this automated transcription. For official company statements and financial information, please refer to the company's SEC filings and official press releases. Corporate participants' and analysts' statements reflect their views as of the date of this call and are subject to change without notice. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga: VERRICA PHARMACEUTICALS (VRCA): Free Stock Analysis Report This article Transcript: Verrica Pharmaceuticals Q1 2026 Earnings Conference Call originally appeared on Benzinga.com © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Interested in Verrica Pharmaceuticals Inc.? Here are five stocks we like better. YCANTH sales accelerated in Q1, with total revenue of $5 million and U.S. YCANTH product revenue up 25.4% year over year. Verrica said demand hit record levels in March and rose again in preliminary April results. The company is making progress on its pipeline expansion, with the first phase 3 common wart trial (COVE-2) past 50% enrollment and a second phase 3 study targeted for mid-2026. Verrica is also preparing a phase 3 program for VP-315 in basal cell carcinoma after strong phase 2 data. Verrica ended the quarter with $20.6 million in cash, which it says should fund operations into the first quarter of 2027. The company reported an unchanged GAAP net loss of $9.7 million year over year, while spending rose on commercial expansion and development work. Verrica Pharmaceuticals (NASDAQ:VRCA) reported higher first-quarter revenue and record demand for its molluscum contagiosum treatment YCANTH, while outlining progress on late-stage development programs in common warts and basal cell carcinoma. President and Chief Executive Officer Jayson Rieger said the company saw “accelerating growth in market demand for YCANTH,” with record dispensed applicator units during the quarter and in March. He added that preliminary April results showed dispensed applicator units increased again from March’s record level. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? For the first quarter of 2026, Verrica reported total revenue of $5 million, including $4.3 million in U.S. YCANTH product revenue and $0.7 million in license and collaboration revenue tied to its partnership with Torii Pharmaceutical. U.S. YCANTH revenue rose 25.4% from the first quarter of 2025, while U.S. dispensed applicator units increased 51.3% to 15,302. Sequentially, U.S. YCANTH revenue rose 15.3% and dispensed applicator units increased 12.1% from the fourth quarter of 2025. Rieger said demand in January was likely affected by severe winter weather across the East Coast, but accelerated in February and continued into March. He said April demand also showed further growth. → MercadoLibre Boldly Invests in Growth: Discount Deepens The company continues to invest in co-pay assistance, which management said is affected early in the year by annual insurance deductible resets. Verrica also launched YcanthRx, a non-dispensing pharmacy, in the fourth quarter of 2025 to simplify benefit investigations and triage prescriptions to in-network dispensing pharmacies. Chief Operating Officer David Zawitz said during the question-and-answer portion of the call that YcanthRx has performed well in its first few months and remains optional for prescribers seeking support with benefits investigations and prior authorizations. Verrica did not disclose what percentage of prescriptions are routed through the program. → MP Materials Is Quietly Building a Rare Earth Powerhouse Chief Commercial Officer Chris Chapman, who joined Verrica in March, said the company’s territories currently cover about 85% of the total addressable market and that Verrica is evaluating reach and frequency across its sales organization. Chapman said the company expects to staff to approximately 50 representatives and sees opportunities to optimize deployment in several markets. Chapman also said the presence of another molluscum product in the market could be helpful by increasing awareness and encouraging treatment, while Rieger said the market has historically been dominated by a “watch and wait” approach. Rieger said Torii Pharmaceutical, now a subsidiary of Shionogi, launched YCANTH in Japan in February for patients with molluscum following regulatory approval last year. He said commercial supply to Torii has begun to offset Verrica’s portion of clinical costs for the company’s common wart program. In Europe, Rieger said the Committee for Medicinal Products for Human Use of the European Medicines Agency provided positive feedback supporting a Marketing Authorisation Application for YCANTH in molluscum, with no additional phase 3 trials required for approval. Verrica is progressing toward submission and evaluating potential commercialization partnerships in the region. Asked about pricing and launch sequencing in Europe, Rieger said the company is still in the early stages of planning and is assessing reimbursement and pricing options on a country-by-country basis. He said Verrica expects to pursue broad access across the EU and that rollout may be consistent with traditional European launches. Verrica said enrollment in COVE-2, the first phase 3 trial of YCANTH for common warts, has surpassed 50% of the currently targeted level. The company has also begun enrolling patients in COVE-4, a long-term follow-up study, and is targeting initiation of the second phase 3 trial, COVE-3, by mid-2026. Rieger said the COVE-3 trial will include sites in the U.S. and Japan. If successful, he said YCANTH could become the first therapy approved in the U.S. and Japan to treat common warts. Rieger said common warts affect more than 22 million people in the U.S. Verrica and Torii will split the program costs equally, with Torii funding the first $40 million of trial costs, representing approximately 90% of the current trial budget. Verrica expects to repay its portion through offsets against future transfer payments, milestones and royalties related to YCANTH sales in Japan. Verrica also highlighted progress with VP-315, its phase 3-ready candidate for basal cell carcinoma. Rieger said the company has begun work to secure clinical supplies and select a contract research organization to support initiation of the phase 3 program. In phase 2, VP-315 demonstrated a 97% objective response rate and an 86% reduction in overall tumor size, with more than half of treated lesions achieving complete histological resolution, according to Rieger. He said Verrica plans to present additional data at the 2026 Society for Investigative Dermatology annual meeting in Chicago, including observations described as abscopal-like effects. Chief Medical Officer Noah Rosenberg said the initial phase 3 approach is focused on patients with low-risk basal cell carcinoma, including nodular and superficial forms, and primary tumors similar to those studied in phase 2. He said Verrica also sees longer-term potential for VP-315 as a neoadjuvant approach for complex and difficult-to-treat tumors. Rieger said recent market research indicated broad potential utilization and acceptance among general dermatologists, medical oncologists, Mohs surgeons, office managers and payers. He also said patient research suggested a substantial majority of patients would elect to try VP-315 before existing therapeutic options, whether or not they had previously been treated for skin cancer. Interim Chief Financial Officer John Kirby said gross product margin was 87.3% in the first quarter, compared with 87.6% in the prior-year period. Cost of product revenue was $0.5 million, up from $0.4 million a year earlier. Research and development expenses were $3.9 million, increasing by $1.5 million when excluding stock-based compensation, primarily due to higher spending on the common warts program. Selling, general and administrative expenses were $10 million, increasing by $1.3 million excluding stock-based compensation, driven mainly by higher commercial spending tied to sales force expansion. Verrica reported a GAAP net loss of $9.7 million, or $0.45 per share, for the first quarter of 2026, compared with a GAAP net loss of $9.7 million, or $1.03 per share, in the first quarter of 2025. On a non-GAAP basis, net loss was $8.8 million, or $0.41 per share, compared with $8.3 million, or $0.88 per share, a year earlier. As of March 31, Verrica had $20.6 million in cash, which Kirby said is expected to fund operations into the first quarter of 2027. Verrica Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of topical therapies for dermatological conditions. Its lead investigational product, VP-102, is a standardized formulation of cantharidin in a pre-measured applicator designed to treat molluscum contagiosum and common warts. Verrica's approach emphasizes consistency of dosing and patient convenience, aiming to improve upon off‐label use of existing treatments. Beyond VP-102, Verrica is advancing VP-103, a next‐generation topical candidate intended to optimize tolerability while maintaining efficacy against viral skin lesions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Verrica Pharmaceuticals Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

This article first appeared on GuruFocus. Release Date: May 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Verrica Pharmaceuticals Inc (NASDAQ:VRCA) reported a 25.4% increase in U.S. Ycamp product revenue compared to the first quarter of 2025. The company achieved a significant milestone with the launch of Wycanth in Japan by Torii Pharmaceuticals, marking the beginning of global expansion efforts. Verrica Pharmaceuticals Inc (NASDAQ:VRCA) has made substantial progress in its Phase III program for the treatment of common warts, achieving over 50% of targeted enrollment. The company reported a strong gross product margin of 87.3% for the first quarter of 2026. Verrica Pharmaceuticals Inc (NASDAQ:VRCA) has retained 100% global commercial rights to its products outside of Japan, presenting robust partnership opportunities. Verrica Pharmaceuticals Inc (NASDAQ:VRCA) reported a GAAP net loss of $9.7 million for the first quarter of 2026, consistent with the previous year. Research and development expenses increased by $1.5 million compared to the first quarter of 2025, driven by spending on the Common Warts Program. Selling, general, and administrative expenses rose by $1.3 million due to increased commercial spending. The company is still in the early stages of its Europe planning and strategy, with ongoing activities to understand pricing and reimbursement. Verrica Pharmaceuticals Inc (NASDAQ:VRCA) has not yet provided guidance for the full year, indicating uncertainty in future financial performance. Warning! GuruFocus has detected 3 Warning Signs with VRCA. Is VRCA fairly valued? Test your thesis with our free DCF calculator. Q: What are your views on the consensus for the year, given the growing demand in April? Are you expecting seasonality with molluscum this year? A: Jason Rieger, President and CEO, stated that while it's premature to give guidance, the company is excited about the progress and growth seen so far. They anticipate growth as they enter spring and summer, which could contribute to the demand increase. The company is also focusing on commercial execution and adoption of Ycanth. Chris Chapman, Chief Commercial Officer, added that they are optimizing their sales force to capture more market share. Q: Can you provide an update on the progress of expanding the sales force in regions with good Ycanth adoption? A: Chris Chapman, Chief Commercial Officer, mentioned that they are optimizing reach and frequency, planning to staff approximately 50 representatives. They are evaluating current targeting to optimize reach and frequency, which is expected to yield positive momentum. Q: Regarding BP315, where do you expect the product to be positioned in the BCC treatment paradigm? A: Noah Rosenberg, Chief Medical Officer, explained that the initial approach targets patients with low-risk BCC, similar to those in Phase II trials. Long-term, they see it as a neoadjuvant approach for complex tumors. The Abscopal data is promising for patients with multiple lesions. Q: How is the Ycanth Rx pharmacy model performing, and what are you seeing in terms of prescription conversions or reimbursement success rates? A: David Dawid, Chief Operating Officer, stated that Ycanth Rx has been performing well since its launch. It provides prescribers with an option for additional help with benefits investigations and prior authorizations. Adoption is growing, and it is proving to be a useful option for prescribers. Q: Can you elaborate on the impact of a competitor molluscum product in the market? A: Chris Chapman, Chief Commercial Officer, noted that having a second competitor in the market increases recognition and treatment of molluscum, which is an opportunity for Verrica. The presence of another product helps drive awareness and adoption of treatments for molluscum. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

– Company reports record demand for YCANTH® as dispensed applicator units grew to 15,302 in Q1 2026, up 12.1% over the previous quarter and 51.3% year-over-year, and has now exceeded 100,000 dispensed applicator units since launch – – Company announces achievement of over 50% of current targeted enrollment in the first trial in global Phase 3 common warts program and expects to initiate the second trial in the US and Japan in mid-2026 – – Company reports total revenue of $5.0 million in Q1 2026, including U.S. YCANTH net product revenue of $4.3 million in Q1 2026, up 16.2% over previous quarter and 25.4% year-over-year – – YCANTH commercial launch in Japan by partner Torii Pharmaceutical represents expansion into first ex-U.S. market – – Company continues preparation for Phase 3 study of VP-315 in basal cell carcinoma – – Conference call scheduled for today, May 12, 2026, at 4:30 pm ET – WEST CHESTER, Pa., May 12, 2026 (GLOBE NEWSWIRE) -- Verrica Pharmaceuticals Inc. (“Verrica”) (Nasdaq: VRCA), a therapeutics company developing and commercializing medications for the treatment of dermatological diseases, including skin cancers, today announced financial results for the first quarter ended March 31, 2026. “Our first quarter performance reflects accelerating growth in market demand for YCANTH as the new standard of care for the treatment of molluscum contagiosum, a condition that impacts approximately 6 million people in the United States alone,” said Jayson Rieger, PhD, MBA, President and Chief Executive Officer of Verrica. “As the only FDA-approved, HCP-administered therapy for molluscum, YCANTH is a product that is uniquely positioned to address the unmet need of patients with molluscum, largely children under the age of 14. Demand for YCANTH grew sharply during the first quarter, as we set new records for dispensed applicator units during the quarter and in the month of March. April dispensed applicator units increased further from the record total in March, and the Company has achieved the milestone of over 100,000 total dispensed applicator units since launch. We have also achieved another significant milestone in expanding to new markets as our partner, Torii Pharmaceutical, launched YCANTH in Japan for patients with molluscum following regulatory approval last year.” “We are beginning to realize the traction from the efforts we began to implement last year to stabilize and grow our business. Alongside the growth in demand for YCANTH, we believe Verrica’s future growth is enhanced by the potential of our late-stage clinical programs in basal cell carcinoma and common warts, which we believe could represent multi-billion dollar opportunities if these programs successfully complete their development and are approved,” Dr. Rieger continued. “The exciting data from the Phase 2 study of our novel oncolytic peptide, VP-315, for the treatment of basal cell carcinoma is generating strong interest within the dermatology and oncology communities and among patients faced with treating basal cell carcinoma. Further, last December the first patient was dosed in the first trial (COVE-2) of the global Phase 3 program evaluating YCANTH (VP-102) for the treatment of common warts, and we are happy to announce achievement of over 50% of the current targeted enrollment in the trial. We expect the second Phase 3 trial (COVE-3) in the common warts program, with sites in both the U.S. and Japan, will be initiated in mid-2026.If successful, the global Phase 3 program in common warts has the potential to greatly expand the market for YCANTH to an indication with an estimated 22 million patients in the United States. The efforts we are undertaking in commercializing YCANTH for molluscum lay the foundation for an efficient and rapid expansion into common warts, if approved, as there will be a significant overlap in the clinicians treating both indications, who would have the ability to access the product for both patient populations through the same distribution channels.” Dr. Rieger concluded, “we are proud of our progress in establishing YCANTH as the new standard of care for molluscum and of our work to expand our products, indications and markets. Collectively, our commercially available asset and pipeline programs, if successful, could represent significant benefits for patients and value for our company and our shareholders.” Conference Call and Webcast Information The Company will host a conference call on Tuesday, May 12, 2026, at 4:30 pm, to discuss its first quarter 2026 financial results and provide a business update. To participate in the conference call, please utilize the following information: Domestic Dial-In Number: Toll-Free: 1-833-316-2483 International Dial-In Number: 1-785-838-9284 Conference ID: VERRICA Participants can use Guest dial-in #s above and be answered by an operator. Webcast:https://viavid.webcasts.com/starthere.jsp?ei=1758586&tp_key=307852c58b The call will be broadcast live over the Web and can also be accessed on Verrica Pharmaceuticals’ website: www.verrica.com. The conference call will also be available for replay for one month on the Company’s website in the Events Calendar of the Investors section. Business Highlights and Recent Developments YCANTH® (VP-102) During the first quarter of 2026, YCANTH dispensed applicator units totaled 15,302, representing a year-over-year increase of approximately 51.3% from the first quarter of 2025. On a sequential basis, YCANTH dispensed applicator units increased approximately 12.1% from the prior quarter. In the first quarter of 2026, while January was likely impacted by winter weather across the East Coast, dispensed applicator units per selling day rebounded sharply in February and March, setting a record monthly high since launch in March. On February 9, 2026, the Company announced the commercial launch of YCANTH in Japan by its partner, Torii Pharmaceutical Co. Ltd. (“Torii”), a wholly-owned subsidiary of Shionogi & Co., Ltd., for the treatment of molluscum. On January 7, 2026, the Company announced that the first patient was dosed in December 2025 in the first trial (COVE-2) of our global Phase 3 program evaluating YCANTH (VP-102) for the treatment of common warts. If the Phase 3 program is successful, YCANTH could become the first therapy approved in either the United States or Japan for the treatment of common warts, a condition that impacts over 22 million people in the United States alone. The Company has retained full commercial rights for all potential YCANTH indications outside of Japan and believes that YCANTH for common warts could represent a substantial commercial and licensing opportunity. VP-315 On May 5, 2026, the Company announced that it will present data from its Phase 2 study of its novel oncolytic peptide, VP-315, for the treatment of basal cell carcinoma in a late-breaking abstract selected for oral presentation at the upcoming 2026 Society for Investigative Dermatology (SID) Annual Meeting, which will take place from May 13-16, 2026, in Chicago, Illinois. Data from the Company’s Phase 2 study will highlight an observed abscopal-like effect of VP-315 in non-treated basal cell carcinoma lesions. CORPORATE On February 12, 2026, the Company announced the appointment of Chris Chapman as its Chief Commercial Officer. Mr. Chapman brings over 25 years of commercial experience in the pharmaceutical industry to Verrica, and most recently served as Chief Commercial Officer at Dermavant Sciences through its acquisition by Organon, where he played an instrumental role in launching VTAMA® (tapinarof) cream, 1%, approved for adult plaque psoriasis in June 2022 and atopic dermatitis in December 2024. First Quarter 2026 Financial Results Total revenue for the three months ended March 31, 2026, was $5.0 million. U.S. YCANTH product revenue, net was $4.3 million for the quarter ended March 31, 2026, compared to net product revenue of $3.4 million for the quarter ended March 31, 2025. The increase in product revenue, net was primarily related to an increase in deliveries of YCANTH to Verrica’s distribution partners commensurate with an increase in dispensed applicator unit volume. License and collaboration revenue was $0.7 million for the quarter ended March 31, 2026, consisting primarily of commercial supply for Torii’s YCANTH launch in Japan. License and collaboration revenue was not material for the three months ended March 31, 2025. Costs of product revenue were $0.5 million for the quarter ended March 31, 2026, compared to $0.4 million for the quarter ended March 31, 2025, consisting primarily of product costs related to the sale of YCANTH. Selling, general and administrative expenses were $10.0 million for the quarter ended March 31, 2026, compared to $8.8 million for the same period in 2025. Excluding the impact of stock-based compensation, the increase of $1.3 million was primarily due to increased commercial spend, related to the expansion of the sales force. Research and development expenses were $3.9 million for the quarter ended March 31, 2026, compared to $2.3 million for the same period in 2025. Excluding the impact of stock-based compensation, the increase was primarily attributable to costs associated with the Phase 3 program for common warts. The expense for the Phase 3 common warts program did not impact Verrica’s cash balance, as the first $40 million of payments for this program will be made by Torii under the Company’s collaboration and license agreement. Interest income was $0.2 million for the quarter ended March 31, 2026, compared to $0.3 million for the quarter ended March 31, 2025. The decrease in interest income was primarily due to lower cash balances. Interest expense was $0.2 million for the quarter ended March 31, 2026, compared to $2.2 million for the same period in 2025. The decrease of $2.0 million was related to the settlement and termination of the Company’s debt facility in November 2025. For the quarter ended March 31, 2026, net loss was $9.7 million, or $0.45 per share, compared to a net loss of $9.7 million, or $1.03 per share, for the same period in 2025. For the quarter ended March 31, 2026, non-GAAP net loss was $8.8 million, or $0.41 per share, compared to a non-GAAP net loss of $8.3 million, or $0.88 per share, for the same period in 2025. Non-GAAP Financial Measures In evaluating the operating performance of its business, Verrica’s management considers non-GAAP loss from operations, non-GAAP net loss and non-GAAP net loss per share. These non-GAAP financial measures exclude stock-based compensation expense and non-cash interest expense that are required by GAAP. Verrica excludes non-cash stock-based compensation expense from these non-GAAP measures to facilitate comparison to peer companies who also provide similar non-GAAP disclosures and because it reflects how management internally manages the business. In addition, Verrica excludes non-cash interest expense from these non-GAAP measures to facilitate an understanding of the effects of the debt service obligations on the Company’s liquidity and comparisons to peer group companies who also provide similar non-GAAP disclosures and because it is reflective of how management internally manages the business. Verrica also excludes certain other one-time expenses and impacts from change in fair value of derivative liability. Non-GAAP loss from operations, non-GAAP net loss and non-GAAP net loss per share should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. Non-GAAP loss from operations, non-GAAP net loss and non-GAAP net loss per share have been reconciled to the nearest GAAP measure in the tables following the financial statements in this press release. About YCANTH® (VP-102)YCANTH® is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin delivered via a single-use applicator that allows for precise topical dosing and targeted administration for the treatment of molluscum. YCANTH is the first and only healthcare professional-administered product approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum — a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. Approval of YCANTH was based upon the positive results from two Phase 3 clinical trials in approximately 500 patients which demonstrated that YCANTH was a safe and effective therapeutic for the treatment of molluscum. Approximately 250 million lives are eligible to receive YCANTH covered by insurance. Commercially insured patients pay just $25 per YCANTH treatment visit, for up to two applicators. Other uninsured patients may be eligible to receive YCANTH at a reduced cost if certain eligibility requirements are met for patient assistance. Please visit YCANTHPro.com for additional information. About VP-315 (ruxotemitide) VP-315 is a potential first-in-class oncolytic chemotherapeutic peptide immunotherapy administered directly into a tumor to induce immunogenic cell death and thereby unleashing a broad spectrum of tumor antigens for T cell responses, which may offer a non-surgical option for patients suffering from skin cancer. The technology is based on pioneering research in “host defense peptides” – nature’s first line of defense towards foreign pathogens. Verrica holds an exclusive worldwide license to develop and commercialize VP-315 for certain dermatologic oncology indications, including non-metastatic melanoma and non-metastatic merkel cell carcinoma, and intends to focus initially on basal cell and squamous cell carcinomas as the lead indications for development. VP-315 has demonstrated positive tumor-specific immune cell responses in multi-indication Phase 1/2 oncology trials. About Verrica Pharmaceuticals Inc. Verrica is a therapeutics company developing and commercializing medications for the treatment of dermatological diseases, including skin cancers. Verrica’s product YCANTH® (VP-102) (cantharidin), is the first and only healthcare professional-administered treatment approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. YCANTH® (VP-102) is also in development to treat common warts, the largest remaining unmet need in medical dermatology. Verrica has also entered a worldwide license agreement with Lytix Biopharma ASA to develop and commercialize VP-315 (ruxotemitide, formerly known as LTX-315 and VP-LTX-315) for non-melanoma skin cancers including basal cell carcinoma and squamous cell carcinoma. For more information, visit www.verrica.com. Forward-Looking StatementsAny statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include statements about the commercialization of YCANTH, the clinical development and benefits of Verrica’s product candidates, including YCANTH (VP-102) and VP-315, the development and regulatory plans for YCANTH, and the timing of initiating the second Phase 3 study of YCANTH for common warts. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include risks and uncertainties related to market conditions, and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2025, Verrica’s Quarterly Reports on Form 10-Q and other filings Verrica makes with the SEC. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise. FOR MORE INFORMATION, PLEASE CONTACT: Investors: John KirbyInterim Chief Financial [email protected] Kevin GardnerLifeSci [email protected]

Neurocrine Biosciences (NBIX) came out with quarterly earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +15.31%. A quarter ago, it was expected that this biopharmaceutical company would post earnings of $2.25 per share when it actually produced earnings of $1.88, delivering a surprise of -16.44%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Neurocrine, which belongs to the Zacks Medical - Drugs industry, posted revenues of $814.5 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 9.80%. This compares to year-ago revenues of $572.6 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Neurocrine shares have lost about 5.5% since the beginning of the year versus the S&P 500's gain of 5.2%. While Neurocrine has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Neurocrine was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.03 on $832.71 million in revenues for the coming quarter and $8.47 on $3.47 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Verrica Pharmaceuticals Inc. (VRCA), has yet to report results for the quarter ended March 2026. This company is expected to post quarterly loss of $0.59 per share in its upcoming report, which represents a year-over-year change of +41%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Verrica Pharmaceuticals Inc.'s revenues are expected to be $4.7 million, up 36.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Neurocrine Biosciences, Inc. (NBIX) : Free Stock Analysis Report Verrica Pharmaceuticals Inc. (VRCA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research