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Jun 30, 2022
Verrica Q2 2022 Earnings Report
Verrica reported financial results for Q2 2022, including license revenues of $0.2 million and a net loss of $10.2 million, and is planning to resubmit NDA for VP-102 in Q1 2023.
Key Takeaways
Verrica Pharmaceuticals reported Q2 2022 financial results, featuring license revenues of $0.2 million. The company experienced a net loss of $10.2 million, or $0.37 per share. Verrica is preparing to resubmit its NDA for VP-102 in Q1 2023 and had cash, cash equivalents, marketable securities and restricted cash of $54.4 million as of June 30, 2022.
Verrica held a Type A meeting with the FDA to discuss the path forward for VP-102's NDA resubmission.
The company began working with Piramal Pharma Solutions for VP-102 bulk solution production.
Verrica reaffirms plans to resubmit the NDA for VP-102 in the first quarter of 2023.
Approximately $28.5 million of gross proceeds were raised in an underwritten public offering.
Forward Guidance
Verrica believes that its existing cash, cash equivalents, and marketable securities as of June 30, 2022, together with the proceeds from the July 2022 underwritten public offering, will be sufficient to support planned operations into the third quarter of 2023.
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