Verrica Pharmaceuticals (VRCA) Corporate presentation summary

Product portfolio and approvals

• YCANTH is the first FDA-approved treatment for molluscum contagiosum in patients aged 2 and older, with 2025 revenue of $15.3 million, up 130% year-over-year, and significant SG&A expense reduction.

• YCANTH received approval in Japan in September 2025, launched in February 2026, and generated $18 million in milestone revenue from its partner.

• Alignment with the European Medicines Agency allows for EU registration without additional clinical trials.

• YCANTH is protected by U.S. IP through 2036–2041 and global IP for licensing outside Japan.

Pipeline and clinical development

• Global Phase 3 program for common warts is substantially funded by a partner, with first patient dosed in December 2025; no FDA-approved competitor exists.

• Phase 2 results for common warts showed over 50% full clearance after four treatments and a favorable safety profile.

• VP-315, an immunotherapy for basal cell carcinoma (BCC), showed a 97% objective response rate and 51% complete histological clearance in Phase 2.

• FDA alignment reached for pivotal Phase 3 studies of VP-315 in BCC, with two 100-patient placebo-controlled trials planned.

• Expansion opportunities exist for VP-315 into other skin cancers, including squamous cell carcinoma.

Commercial strategy and market opportunity

• Targeting dermatologists and pediatricians for YCANTH, with broad reimbursement and over 250 million covered lives as of Q3 2025.

• Commercial infrastructure includes a streamlined pharmacy network, co-pay assistance, and digital marketing.

• Ongoing Phase 3 program in common warts leverages existing commercial and manufacturing infrastructure.

• Both YCANTH and VP-315 represent potential $1 billion+ market opportunities in their respective indications.