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Sep 30, 2025
InflaRx Q3 2025 Earnings Report
Verrica Pharmaceuticals reported Q3 2025 results with $14.3 million in revenue, narrowing its net loss significantly compared to the prior year.
Key Takeaways
Verrica Pharmaceuticals posted $14.3 million in Q3 2025 revenue, primarily from milestone payments and sales of YCANTH. The company recorded a minor net loss of $0.3 million, a notable improvement from the $22.9 million loss in Q3 2024. Operating expenses declined sharply due to cuts in commercial and marketing spending. With $21.1 million in cash on hand, Verrica continues advancing late-stage programs, including global Phase 3 trials for YCANTH and VP-315.
Generated $14.3 million in total revenue, including $10.7 million in milestone and collaboration revenue and $3.6 million from YCANTH sales.
Reduced net loss to $0.3 million from $22.9 million YoY, showing major cost control improvements.
Achieved positive regulatory feedback from both the FDA and EMA supporting YCANTH and VP-315 development programs.
Ended Q3 2025 with $21.1 million in cash and equivalents, supporting ongoing clinical and commercial initiatives.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Verrica expects to advance global Phase 3 trials for YCANTH in common warts and for VP-315 in basal cell carcinoma, with continued growth in YCANTH prescriptions and expansion of its commercial footprint.
Positive Outlook
- Launch of YCANTH Rx expected in Q4 2025 to streamline prescriptions and patient support.
- Received $10M milestone payment from Torii for Japanese approval of YCANTH.
- Positive FDA and EMA feedback supporting YCANTH Phase 3 design and European MAA filing.
- Global Phase 3 program for common warts initiated with first U.S. patient enrollment expected in 2025.
- Strong Phase 2 data for VP-315 with plans for two pivotal Phase 3 trials in basal cell carcinoma.
Challenges Ahead
- Ongoing net losses highlight continued path to profitability challenges.
- Dependence on milestone payments and licensing revenue vs. recurring product revenue.
- Potential delays in clinical enrollment timelines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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