Verrica Pharmaceuticals (VRCA) Investor presentation summary

Product portfolio and pipeline

• YCANTH is the first FDA-approved, HCP-administered treatment for molluscum contagiosum, with strong adoption and revenue growth in the U.S. and recent approval in Japan.

• YCANTH is in Phase 3 trials for common warts, targeting a $1B+ market with no current FDA-approved therapies; Torii Pharmaceutical funds most trial costs.

• VP-315, an innovative immunotherapy for basal cell carcinoma (BCC), showed a 97% objective response rate and is Phase 3 ready, targeting a multi-billion dollar market.

• The company retains global rights for YCANTH outside Japan and for VP-315 in non-metastatic skin cancer, exploring non-dilutive partnerships for global expansion.

Clinical and commercial performance

• YCANTH revenue grew 84% year-over-year to $11.6M for the first nine months of 2025, with a 120% increase in dispensed applicator units.

• Phase 3 studies for YCANTH in molluscum showed statistically significant clearance rates and favorable safety, with most adverse events being mild to moderate.

• Commercial strategy includes targeting dermatologists and pediatricians, expanding payor access, and simplifying provider and patient experiences.

• Over 250 million covered lives as of Q3 2025, with robust Medicaid and commercial coverage and a co-pay assistance program.

Financial and operational highlights

• As of September 30, 2025, cash and equivalents were $21.1M; a $50M equity financing in November 2025 repaid debt and provided working capital.

• Equity structure post-financing includes 16M common shares, 5.3M prefunded warrants, and 5.4M other warrants.

• Operational focus on efficient execution, with options for non-dilutive financing and global licensing opportunities.