VRCANasdaqPharmaceutical PreparationsUS GAAP · USD

Verrica Pharmaceuticals Inc.

Verrica Pharmaceuticals Inc. is a U.S.-based dermatology company focused on developing and commercializing prescription therapies for skin diseases. Its commercial product, YCANTH (VP-102), is a physician-administered topical treatment, and the company also has pipeline programs in common warts and basal cell carcinoma.

Kysy yhtiöstä
Liikevaihto35,6milj. USD
+370,2 %v/v
Liikevoitto (EBIT)−12,2milj. USD
+81,5 %v/v
EBIT-marginaali−34,2%
+837,0 %-yks.v/v
Nettotulos−17,9milj. USD
+76,6 %v/v
Vapaa kassavirta−17,6milj. USD
+71,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−75−50−2502550milj. USD2020: EBIT −40 milj. USD20202021: 12 milj. USD2021: EBIT −31 milj. USD20212022: 9,0 milj. USD2022: EBIT −21 milj. USD20222023: 5,1 milj. USD2023: EBIT −66 milj. USD20232024: 7,6 milj. USD2024: EBIT −66 milj. USD20242025: 36 milj. USD2025: EBIT −12 milj. USD202536−12
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Verrica Pharmaceuticals Inc.

Liiketoiminta

Osuus liikevaihdosta
Commercial dermatology product100 %

YCANTH (VP-102) is the company's marketed, physician-administered topical therapy.

Access and distribution services0 %

YCANTH-Rx and pharmacy/wholesaler channels support prescription fulfillment and access.

Clinical development pipeline0 %

Development programs for common warts and basal cell carcinoma extend the product platform.

Tuotteet

Raportoitu · osuus liikevaihdosta
57,0%43,0%FY2025100 %
  • License and Collaboration Revenue57,0 %
  • Products43,0 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company sells primarily to pharmaceutical wholesalers and distributors, which then supply pharmacies, clinics, hospitals, and federal healthcare programs. Its commercial focus is on U.S. physicians who treat pediatric dermatology and dermatology patients, especially those managing molluscum contagiosum. Market access teams also work with commercial, Medicaid, and managed Medicaid payers to support reimbursement and adoption.

Pharmaceutical wholesalers/distributors

Buy YCANTH and distribute it onward to pharmacies, clinics, hospitals, and federal healthcare programs.

Pediatric dermatologists

Prescribe YCANTH for pediatric molluscum contagiosum and are the core clinical audience.

Dermatologists

Use YCANTH in dermatology practices and represent a major physician adoption segment.

Pediatricians and select primary care HCPs

Help broaden access to treatment beyond specialist dermatology settings.

Payers and government programs

Commercial, Medicaid, and managed Medicaid plans influence coverage and patient access.

Strategia

Verrica's strategy centers on expanding YCANTH adoption in the U.S. through physician education, consumer awareness, and payer coverage. It is also building a broader cantharidin platform by advancing common-wart and basal-cell-carcinoma programs and by using partnerships to extend reach outside the U.S.

Grow YCANTH adoption in the U.S.Lyhyt aikaväli

The commercial product is the main source of revenue and brand recognition.

Secure and maintain reimbursement accessLyhyt aikaväli

Coverage determines whether physicians and patients can obtain the product efficiently.

Advance pipeline indicationsKeskipitkä aikaväli

Additional approved uses could diversify revenue beyond molluscum contagiosum.

Expand geographic reach through partnersKeskipitkä aikaväli

Licensing can extend the platform without building a full international commercial infrastructure.

Maantiede

Verrica's commercial business is concentrated in the United States, where YCANTH is marketed and shipped. The company also has an out-licensed Japan opportunity through Torii for cantharidin-based products, which extends the platform beyond the U.S. market. Its supply chain includes raw material sourcing from suppliers based in the People's Republic of China, creating upstream geographic exposure.

Riskit

The company depends on a single commercial product and on successful reimbursement, physician adoption, and supply continuity. It also faces financing risk, clinical development risk, and competition from established dermatology treatments and future entrants, while raw material sourcing from China adds supply-chain exposure.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Going-concern and financing risk1Single-product concentration2Clinical and regulatory risk3Supply-chain concentration4Gross-to-net and returns risk5Competitive pressure6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Going-concern and financing riskVaikutus: KriittinenTodennäköisyys: Korkea

    The company expects to need additional capital to fund commercialization and R&D.

    Kohdistuu: Operations and pipeline funding

  2. Single-product concentrationVaikutus: KorkeaTodennäköisyys: Korkea

    YCANTH is the only commercial product, so demand changes flow directly into revenue.

    Kohdistuu: Revenue and cash flow

  3. Clinical and regulatory riskVaikutus: KorkeaTodennäköisyys: Korkea

    Pipeline programs need successful trials and FDA approvals before they can contribute revenue.

    KohdistuuVP-102 common wartsVP-315 BCC
  4. Supply-chain concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Raw cantharidin is sourced directly or indirectly from suppliers in China.

    Kohdistuu: API and finished product supply

  5. Gross-to-net and returns riskVaikutus: KorkeaTodennäköisyys: Matala

    Rebates, chargebacks, discounts, and returns can reduce reported net sales.

    KohdistuuProduct revenueNet
  6. Competitive pressureVaikutus: KeskitasoTodennäköisyys: Korkea

    YCANTH competes with OTC products, procedures, off-label therapies, and future entrants.

    Kohdistuu: Dermatology treatment market

Kysy Clarifolta: Verrica Pharmaceuticals Inc.

Kirjanpito

Harkinnanvaraiset erät
ASC 606 revenue recognition and gross-to-net reserves

Reported net sales depend on estimates for rebates, chargebacks, discounts, and returns.

Vaikutus: Can materially affect quarterly revenue and margins

Inventory and cost of product revenue

Some raw materials and components were expensed before approval and later flowed through cost of sales.

Vaikutus: Can distort period-to-period gross margin comparability

Going-concern assessment

Liquidity and financing assumptions affect the presentation of the financial statements.

Vaikutus: Important for assessing balance-sheet and funding risk

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Päivitetty: 24.9.2026