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Jun 30, 2021
Verrica Q2 2021 Earnings Report
Verrica reported a net loss for Q2 2021, increased general and administrative expenses, and continued preparations for the potential FDA approval of VP-102.
Key Takeaways
Verrica Pharmaceuticals reported a net loss of $11.8 million, or $0.43 per share, for the second quarter of 2021, compared to a net loss of $9.4 million, or $0.38 per share, for the same period in 2020. The company's research and development expenses were $3.4 million, while general and administrative expenses were $7.3 million. Verrica is preparing for the potential FDA approval and commercial launch of VP-102.
Net loss on a GAAP basis was $11.8 million, or $0.43 per share, compared to a net loss of $9.4 million, or $0.38 per share, for the same period in 2020.
Non-GAAP net loss was $9.6 million, or $0.35 per share, compared to a non-GAAP net loss of $7.9 million, or $0.32 per share, for the same period in 2020.
Research and development expenses were $3.4 million, compared to $3.5 million for the same period in 2020.
General and administrative expenses were $7.3 million, compared to $5.1 million for the same period in 2020, driven by pre-commercial activities for VP-102.
Forward Guidance
Verrica believes that its existing cash, cash equivalents, and marketable securities as of June 30, 2021 will be sufficient to support planned operations at least into the first quarter of 2023.
Positive Outlook
- Cash, cash equivalents, and marketable securities will be sufficient to support planned operations at least into the first quarter of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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