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Mar 31, 2023
Verrica Q1 2023 Earnings Report
Verrica reported financial results for the first quarter of 2023, highlighting progress with YCANTHâ„¢ and VP-315.
Key Takeaways
Verrica Pharmaceuticals reported collaboration revenues of $37,000 for the first quarter of 2023. The company's net loss on a GAAP basis was $6.6 million, or $0.15 per share. As of March 31, 2023, Verrica had cash and cash equivalents of $60.0 million.
Collaboration revenues were $37,000 in Q1 2023.
Research and development expenses totaled $2.7 million in Q1 2023.
General and administrative expenses were $4.3 million in Q1 2023.
Net loss was $6.6 million, or $0.15 per share for Q1 2023.
Verrica
Verrica
Forward Guidance
Verrica believes that its existing cash and cash equivalents as of March 31, 2023, will be sufficient to support planned operations into the first quarter of 2024.
Positive Outlook
- Existing cash and cash equivalents will support operations into Q1 2024.