Verrica Pharmaceuticals (VRCA) Corporate presentation summary

Commercial performance and product portfolio

• YCANTH is the only FDA-approved, HCP-administered treatment for molluscum contagiosum, with $15.3M in 2025 revenue (+130% YoY) and $9.4M in H1 2026 (+18% YoY).

• Approved in Japan in September 2025 and launched in February 2026; global expansion underway.

• Label expansion for YCANTH is targeted through ongoing global Phase 3 trials for common warts, with topline data expected in Q1 and mid-2027.

• VP-315 is Phase 3-ready for basal cell carcinoma, showing a 97% objective response rate in Phase 2 and favorable safety.

• Multiple key inflection points expected in early to mid-2027, including pivotal trial readouts.

Clinical development and pipeline

• YCANTH’s global Phase 3 program for common warts is fully enrolled for COVE-2 and over 50% enrolled for COVE-3, with Torii funding the first $40M of costs.

• VP-315 targets basal cell carcinoma with a streamlined Phase 3 program, FDA alignment, and potential expansion to squamous cell carcinoma.

• YCANTH leverages the same platform for both molluscum and common warts, utilizing established infrastructure.

• Strong IP protection for YCANTH (to 2041) and VP-315 (to 2045) supports long-term commercial potential.

• Preparation for EU submission for YCANTH is underway.

Market opportunity and strategy

• Common warts represent a $1B+ market in the US, with 22M patients and no FDA-approved treatments.

• Basal cell carcinoma has 3.6M annual US cases and a $5.5B addressable market; VP-315 could expand to SCC, adding 1.8M cases.

• Commercial infrastructure for molluscum can be leveraged for common warts, targeting overlapping prescribers.

• Nearly 80% of surveyed patients would prefer VP-315 over surgery for BCC.

• Global rights for YCANTH (outside Japan/Israel) and VP-315 provide partnership and licensing opportunities.