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Dec 31, 2023
Verrica Q4 2023 Earnings Report
Reported YCANTH™ revenue of $1.9M, made considerable progress with the launch of YCANTH™ during the first full quarter of commercial operations, and advanced the pipeline.
Key Takeaways
Verrica Pharmaceuticals reported a net loss of $24.6 million for the fourth quarter of 2023, with product revenue of $1.9 million from YCANTH™ and $0.1 million in collaboration revenues. The company is focused on accelerating the YCANTH™ launch and advancing its pipeline, including a Phase 3 clinical trial for common warts and the completion of enrollment in a Phase 2 study for basal cell carcinoma.
YCANTH™ revenue reached $1.9 million in Q4 2023.
Over 200 million lives are now covered on commercial insurance and managed Medicaid plans.
A permanent J-code for YCANTH™ will be published on April 1, 2024.
The company completed enrollment in the Phase 2 study evaluating VP-315 for basal cell carcinoma.
Verrica
Verrica
Forward Guidance
Verrica anticipates accelerating the YCANTH™ launch in 2024 and expects initial results from the VP-315 study in the first half of 2024.
Positive Outlook
- Growing confidence and adoption in the prescriber base
- Over 200 million commercial and Medicaid lives now covered
- A permanent J-code that will be published on April 1
- A significant decrease in the availability and supply of improperly compounded cantharidin
- Alignment with the FDA on the Phase 3 clinical trial for evaluating YCANTH for the treatment of common warts