Verrica Pharmaceuticals Inc.
VRCA evidence brief
What we can confirm
- BioSniper Score:
- 5.7 / 10
- Market Cap:
- $84.3M
- Next Catalyst:
- Patent_Expiry · Feb 19, 2041
What it means
What to watch
Prepared research question
What matters most for VRCA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · VRCA
Verrica Pharmaceuticals Inc. (VRCA) is a therapeutics company developing and commercializing medications for dermatological diseases, including an approved treatment for molluscum contagiosum and a Phase 3 candidate for basal cell carcinoma.
Key risk: Cash runway uncertainty
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 4 clinical trials · 1 catalyst · 1 FDA decision for Verrica Pharmaceuticals Inc..
Verrica Pharmaceuticals Inc. (VRCA) is a therapeutics company developing and commercializing medications for dermatological diseases, including an approved treatment for molluscum contagiosum and a Phase 3 candidate for basal cell carcinoma.
- Verrica's approved product YCANTH (VP-102) is a cantharidin-based topical solution for molluscum contagiosum [pipeline].
- The company is conducting two pivotal Phase 3 trials for YCANTH in common warts: COVE-2 (enrollment completed, topline expected Q1 2027) and COVE-3 (over 50% enrolled, topline expected mid-2027) [news · 2026-08-27].
- VP-315 (ruxotemitide) is an oncolytic peptide in Phase 3 for basal cell carcinoma, with FDA end-of-Phase 2 feedback supporting an efficient registration path [sec_mda · 2026-05-12].
- As of June 30, 2026, Verrica reported cash & equivalents of $11.2M, total revenue of $5.9M, net income of -$13.2M, and an accumulated deficit of $347.7M [sec].
- The company has an exclusive license with Torii Pharmaceutical for cantharidin products in Japan and a worldwide license with Lytix BioPharma for VP-315 in dermatological indications [pipeline].
What works
- YCANTH is FDA-approved for molluscum contagiosum, providing a commercialized product and revenue stream [pipeline].
- Phase 3 programs for YCANTH in common warts (COVE-2, COVE-3) are advancing, with topline data expected in 2027 [news · 2026-08-27].
- VP-315 has received FDA feedback supporting an efficient Phase 3 program and path to registration for basal cell carcinoma [sec_mda · 2026-05-12].
- Strategic partnerships with Torii Pharmaceutical (Japan) and Lytix BioPharma (worldwide license) provide development and commercialization support [pipeline].
What to weigh
- Verrica has an accumulated deficit of $347.7 million as of June 30, 2026, and expects to continue incurring significant operating losses [sec_mda · 2026-08-06].
- Cash & equivalents of $11.2M as of June 30, 2026, may be insufficient to fund all ongoing and planned clinical programs without additional financing [sec].
- The company faces uncertainty in the timing and costs of completing development of YCANTH and VP-315, with no guarantee of material net cash inflows [sec_mda · 2026-08-06].
- Competition in molluscum contagiosum includes Zelsuvmi (berdazimer gel), approved in January 2024 and launched for at-home use in July 2025 [pipeline].
From the filings
Quoted directly from source documents.
COVE-2 enrollment completed, topline data expected Q1 2027
“Verrica Pharmaceuticals Announces Completion of Enrollment in First Pivotal Phase 3 Trial (COVE-2) Evaluating YCANTH® for the Treatment of Common Warts, with Topline Data Expected Q1 2027”
News · August 27, 2026
VP-315 Phase 3 program supported by FDA feedback
“We have obtained feedback from the FDA from the end-of-Phase 2 meeting in 2025 that supports an efficient Phase 3 program and path to registration for VP-315.”
SEC MD&A · May 12, 2026
Accumulated deficit of $347.7 million as of June 30, 2026
“As of June 30, 2026, we had an accumulated deficit of $347.7 million.”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2041-02-19 · Patent_Expiry · CANTHARIDIN — Patent_Expiry: NDA212905 — Patent expiry for cantharidin product NDA212905; may affect market exclusivity.
Risks & what to watch (4)›
Key risks
- Cash runway uncertainty — Cash & equivalents of $11.2M as of 2026-06-30 may be insufficient to fund all programs; company may need additional financing [sec].
- Clinical trial delays
- Competition in molluscum
- Accumulated deficit
What to watch
- Topline data from COVE-2 Phase 3 trial for YCANTH in common warts expected Q1 2027 [news · 2026-08-27].
- Topline data from COVE-3 Phase 3 trial for YCANTH in common warts expected mid-2027 [news · 2026-08-27].
- Progress of VP-315 Phase 3 program for basal cell carcinoma and potential partnership or financing updates [sec_mda · 2026-05-12].
- Cash position and any new financing or partnership announcements to extend runway [sec].
Sources: Catalysts · News · Pipeline · SEC MD&A · Generated October 8, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 7.36 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
1 upcoming, next in ~5243d
6 buys · 0 sells (180d)
Catalysts
Regulatory
Financials
Short Interest
as of Apr 20, 2026- % of float
- 3.8%
- Days to cover
- 3.6
- Shares short
- 497,753
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
VRCA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Verrica Pharmaceuticals Inc.?
Verrica Pharmaceuticals Inc. (VRCA) is a therapeutics company developing and commercializing medications for dermatological diseases, including an approved treatment for molluscum contagiosum and a Phase 3 candidate for basal cell carcinoma.
What is Verrica Pharmaceuticals Inc.'s next catalyst?
Verrica Pharmaceuticals Inc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA212905" — expected February 19, 2041.
Who is the CEO of Verrica Pharmaceuticals Inc.?
Dr. Jayson M. Rieger M.B.A., Ph.D. is the chief executive officer of Verrica Pharmaceuticals Inc. (VRCA).
Where is Verrica Pharmaceuticals Inc. headquartered?
Verrica Pharmaceuticals Inc. (VRCA) is headquartered in West Chester, PA, United States.
What therapeutic areas does Verrica Pharmaceuticals Inc. focus on?
Verrica Pharmaceuticals Inc. develops therapies across Oncology, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.