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Sep 30, 2023
Verrica Q3 2023 Earnings Report
Verrica reported strong awareness and interest in prescribing YCANTH among dermatologists and pediatricians.
Key Takeaways
Verrica Pharmaceuticals reported third quarter 2023 financial results, highlighting the first commercial sale of YCANTH™ to its exclusive distributor, FFF Enterprises Inc., resulting in net product revenue of $2.8 million. The company is focused on executing its launch strategy and expanding coverage among commercial plans and managed Medicaid plans.
YCANTH™ received FDA approval for molluscum treatment in July.
First commercial sale of YCANTH™ resulted in $2.8 million net product revenue.
Over 112 million lives covered through commercial insurance and managed Medicaid plans.
Progress continues on the development pipeline, including VP-315 for basal cell carcinoma.
Forward Guidance
Management expects orders during the fourth quarter of 2023 may be less than the order during the third quarter of 2023 as the Company continues to build demand and drive adoption amongst healthcare providers. Management expects inventory in the channel to normalize and more closely align with product demand in the first half of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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