Verrica Pharmaceuticals Reports Q4 2024 Loss, Misses Revenue Estimates

Verrica Pharmaceuticals reported its Q4 and annual financial results, indicating a net loss of $16.2 million for the fourth quarter of 2024 and a total net loss of $76.6 million for the fiscal year. Despite a decline in product revenue to $0.3 million for Q4, the company saw a 12.3% increase in dispensed applicator units of its main product, YCANTH, which is used for treating molluscum contagiosum. The company's efforts to reduce operating expenses and the recent public offering of $42 million have strengthened its financial position. Verrica aims to initiate a Phase 3 clinical trial for YCANTH to treat common warts by mid-2025, with a potential milestone payment of $8 million from its partner, Torii Pharmaceutical Co. The total revenue for the year was reported at $6.6 million, up from $4.7 million in 2023, reflecting the commercial launch of YCANTH. However, the company expressed concerns about its ability to continue operations without additional funding, highlighting its ongoing challenges in the competitive pharmaceutical landscape.