Verrica Pharmaceuticals (VRCA) H.C. Wainwright 4th Annual BioConnect Investor Conference summary

Commercial performance and product uptake

• YCANTH is the first FDA-approved in-office treatment for molluscum contagiosum, with over 100,000 units dispensed and strong commercial uptake consistent with clinical results.

• Year-over-year, dispensed units doubled and revenue grew 130%, with record monthly performance in March and April 2026.

• Seasonality impacts are more related to patient travel and insurance deductibles than disease prevalence, with co-pay assistance programs ensuring most patients pay no more than $25.

• The YCANTH Rx program streamlines access, prior authorizations, and pharmacy fulfillment, improving efficiency and profitability.

• Sales force is expanding from 44 to about 50 reps in 2026, targeting high-prescribing territories and supporting clinicians.

Market dynamics and competitive landscape

• Introduction of a second product, berdazimer, has increased physician awareness and is expected to accelerate market penetration, though overall market penetration remains low.

• Both products are shifting the historical “watch and wait” approach, with shared educational efforts benefiting overall treatment adoption.

International expansion and partnerships

• YCANTH is approved in the US and Japan, with European regulators indicating no additional phase III trials are needed for approval.

• Seeking a European commercialization partner similar to the Torii/Shionogi partnership in Japan.

• Torii/Shionogi funds 90% of the common warts trial costs, with $40 million to be repaid over five years via milestones, royalties, and product sales.