Disclaimer Certain information contained in this presentation and statements made orally during this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources

Company Overview November 29, 2021

Disclaimer Certain information

contained in this presentation and statements made orally during this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources and Verrica's own internal estimates and research.

While Verrica believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained

from third-party sources. While Verrica believes its internal research is reliable, such research has not been verified by any independent source. This presentation contains forward-looking statements. Forward-looking statements are neither

historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, our clinical results and other future

conditions. All statements other than statements of historical facts contained in this presentation, including statements regarding future results of operations and financial position, business strategy, interactions with the FDA with regard

to the potential approval of the NDA for VP-102, the potential benefits and potential commercialization of VP-102 for the treatment of molluscum, if approved, current and prospective product candidates, planned clinical trials and preclinical

activities, product approvals, degree of market acceptance of approved products, research and development costs, current and prospective collaborations, timing and likelihood of success, plans and objectives of management for future operations,

future results of anticipated product candidates, and the potential payments and benefits to Verrica of the license agreement with Torii, are forward-looking statements. The words "may," "will," "should,"

"expect," "plan," "anticipate," "could," "intend," "target," "project," "estimate," "believe," "predict," "potential"

or "continue" or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The information

in this presentation, including without limitation the forward-looking statements contained herein, represent our views as of the date of this presentation. Although we believe the expectations reflected in such forward-looking statements are

reasonable, we can give no assurance that such expectations will prove to be correct. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable law, we do not plan to

publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. No representations or warranties (expressed or implied) are made about the

accuracy of any such forward-looking statements. The forward-looking statements in this presentation involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and

uncertainties that may cause actual results to differ materially include uncertainties inherent in the drug development process and the regulatory approval process, our reliance on third parties over which we may not always have full control, and

other risks and uncertainties that are described in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission (SEC) on March 17, 2021, and our other filings made with the SEC.

New risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. There can be no assurance that the opportunity will meet your investment objectives, that you will receive a

return of all or part of such investment. Investment results may vary significantly over any given time period. The appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. We

Investment Highlights Prevalence in the

US of 5.1% to 11.5% in children aged 0-16 years. (Fam Pract. 2014 Apr;31(2):130-6). US Census estimates ~69.4MM children aged 0 to 16 years in 2016. IMS National Disease and Therapeutic Index (NDTI) Rolling 5 Years Ending June 2016. Nguyen et al,

Laser Treatment of Nongenital Verrucae A Systemic Review. JAMA Dermatology. 2016; 152(9): 1025-1033 Based on a survey of 115 dermatologists the results of which have been extrapolated to pediatric dermatologists. Rogers JAMA Derm 2015;

https://www.aad.org/media/stats-skin-cancer; https://www.skincancer.org/skin-cancer-information/skin-cancer-facts/ Timing of clinical trials subject to change. YCANTH (VP-102) In Development to Address Two of the Largest Unmet Needs in

Dermatology U.S. prevalence of ~6 million in molluscum contagiosum(1) and ~22 million in common warts(2) No FDA-approved drugs to treat molluscum or warts Innovative Product Candidate Proprietary drug-device combination of formulation and single-use

applicator Physician Acceptance 95% of Pediatric Dermatologists have used API(3) Payer Research Suggests Favorable Reimbursement Landscape Exclusive License for Torii Pharmaceutical to Develop and Commercialize VP-102 in Japan NDA resubmitted on

November 24, 2021 Dermatological Oncology Worldwide rights for dermatological oncology, including basal cell and squamous cell carcinomas and non-metastatic melanoma, to LTX-315 First-in-class oncolytic peptide injected directly into tumor Positive

tumor-specific immune cell responses in multi-indication Phase 1/2 oncology trials Verrica to focus initially on development to treat basal cell and squamous cell carcinomas 5.4 million diagnoses annually in the U.S. of basal and squamous cell skin

cancers(4); patients typically treated with surgery FDA acceptance of IND in November 2021; Verrica expects to initiate Phase 2 in Q1 2022 (5) Proven Team and Strong Balance Sheet Industry-leading, experienced management team with extensive

dermatology product launch experience $79.4M cash, cash equivalents and marketable securities as of September 30, 2021 Focused on Clinician-Administered Therapies With Potential for Reimbursement as a Medical Benefit Copyright 2021 Verrica

Verrica: Striving to Change the Game in

Medical Dermatology Potential first and only FDA-approved product to treat Molluscum Contagiosum Innovative distribution model to eliminate physician cost of acquiring YCANTH Forward-deployed based inventory model to allow physicians to pay for

inventory only after the claim has been adjudicated and the patient agrees to treatment through RFID technology Enhanced physician revenue opportunity Continued reimbursement under the CPT codes 11710 and 17111 Margin on sale of the product

(typically 6%-10% of ASP dependent on health plan) HCP-administered procedure in office typically falls under the medical benefit with an assigned permanent J-Code Medical benefit is often less managed by insurance if pricing stays below the

Our Product Portfolio Pre-IND Phase 2

Phase 3 NDA Next Expected Milestone YCANTH Molluscum Contagiosum FDA acceptance of NDA resubmitted Nov 21 VP-102 Common Warts Evaluate potential second Phase 2 trial External Genital Warts Initiate Phase 3 in 2H 2022 VP-103 Plantar Warts

Initiate Phase 2 trial LTX-315 Dermatological Oncology Initiate Phase 2 trial in Q1 2022 [a]Originally designed Phase 2 program completed. [b]Company evaluating potential for conducting an additional Phase 2 trial based on FDA feedback for Phase 3

trial protocol. [c]Timing of clinical trials for External Genital Warts and LTX-315 may be subject to change. [d]Timing for initiating clinical trials for Plantar Warts to be determined. [e]License excludes metastatic melanoma and metastatic merkel

YCANTH in Development to Address

Two of the Largest Unmet Needs in Dermatology Prevalence in the US of 5.1% to 11.5% in children aged 0-16 years. (Fam Pract. 2014 Apr;31(2):130-6). US Census estimates ~69.4MM children aged 0 to 16 years in 2016. IQVIA projected dataset for 12

months ending October 2017 IMS National Disease and Therapeutic Index (NDTI) Rolling 5 Years Ending June 2016. Nguyen et al, Laser Treatment of Nongenital Verrucae A Systemic Review. JAMA Dermatology. 2016; 152(9): 1025-1033 IQVIA Anonymous

Longitudinal Patient Level Data (APLD) for 12 months ending September 2018 Prevalence in U.S. Common Warts US Prevalence of ~22 million(3) with ~1.5 million diagnosed annually(4) 22M 1.5M Patients Diagnosed Annually Not Diagnosed 5.1 million

U.S. Regulatory Status of VP-102

Verrica received a Complete Response Letter (CRL) from the FDA on September 17, 2021 due to open general inspection items at a contract manufacturer (CMO) that were not specific to VP-102. The Company received a General Advice Letter (GAL) from the

FDA on September 22, 2021 with recommendations to improve VP-102's user interface. On November 5, 2021 Verrica was notified that the inspection of the CMO was classified as "voluntary action indicated" ("VAI"), is now

closed and that the VAI classification will not directly negatively impact FDA's assessment of the Company's NDA. Verrica resubmitted the NDA for VP-102 on November 24, 2021; the resubmission is limited to address the successful

THE PROBLEM Molluscum Contagiosum

Molluscum Background ETIOLOGY AND

CLINICAL PRESENTATION OVERVIEW Caused by a pox virus Primarily infects children, with the highest incidence occurring in children <14 years old Highly contagious If untreated, lesions persist an average of 13 months, with some cases remaining

unresolved for 2+ years Often leads to anxiety and social challenges for the patients and parents and negatively impacts quality of life Transmission Skin to skin contact Sharing of contaminated objects (e.g., clothing, towels, swimming pool toys)

Diagnosis & Symptoms Typically 10 to 30 lesions 100+ lesions can be observed Lesions may be the only sign of infection and are often painless Can be diagnosed with skin biopsy to differentiate from other lesions Complications Skin irritation,

Current Treatments for Molluscum are

not FDA-Approved and Have Many Limitations DESCRIPTION LIMITATIONS Cryotherapy Freezing the lesions with liquid nitrogen Pain and scarring Unsuitable for use in children Curettage Using a curette or a surgical instrument with a scoop at the tip to

scrape the lesions Pain and scarring Unsuitable for use in children Laser Surgery Applying a laser to target and destroy the lesions Pain, cost and lack of availability Unsuitable for use in children Topical Products Applying various acids (e.g.

salicylic acid), creams or blistering solutions to destroy the lesions Unproven efficacy Off-Label Drugs Retinoids, antiviral medicines, or immune modulating therapies Limited efficacy Side-effects Natural Remedies Applying natural oils (e.g. tea

tree oil) with antimicrobial properties Unproven efficacy Pain, irritation and allergic reactions Broad use limited by unproven efficacy, scarring, lack of availability, safety concerns & pain Significantly undertreated patient population

THE SOLUTION YCANTH (VP-102)

YCANTH (VP-102) Is a

Proprietary Drug-Device Combination of Cantharidin Administered Through our Single-use Precision Applicator GMP-controlled new formulation of 0.7% w/v cantharidin Consistent and shelf-stable Single-use applicator to reduce cross-contamination and

allow for more effective application of drug by HCP Visualization agent to identify treated lesions Bittering agent to deter oral ingestion Clinician administered, In-Office Procedure Copyright 2021 Verrica Pharmaceuticals. All rights

We Have Successfully Completed Two

Pivotal Phase 3 Trials (CAMP-1 & CAMP-2) In Molluscum Population Trial Design Two identically designed, randomized, double-blinded, multicenter, placebo controlled trials CAMP-1 conducted under FDA Special Protocol Assessment (SPA) Endpoints

Primary: Percent of subjects with complete clearance of molluscum at Day 84 Secondary: Percent of subjects with complete clearance at week 3, 6, 9 Safety & tolerability Subjects 2+ years of age with MC lesions who have not received any type of

treatment within the past 14 days; Enrollment complete with 266 subjects for CAMP-1 and 262 subjects for CAMP-2 Application Study drug (VP-102 or placebo) is administered topically to all treatable lesions every 21 days until clearance or a maximum

of 4 applications VP-102 or placebo will be left on for 24 hours before removal with soap and warm water 12-week study period

Molluscum History for Subjects in

Phase 3 Trials1 (1) Eichenfield Amer J Clin Derm 2021 VP-102 (n=310) Vehicle (n=218) Baseline Lesion Count Mean (SD) Median Range 20.5 23.1 12.0 1-184 22.5 22.3 15.5 1-110 Time Since Clinical Diagnosis (days) Mean (SD) Median Range

122.9 200.9 25.0 1-1247 126.2 198.7 31.5 1-1302 Previous Treatment for Molluscum - no. (%) Yes 89 (28.7) 72 (33.0) Atopic Dermatitis (AD) - no. (%) History or Active AD Active AD* 50 (16.1) 23 (7.4) 35 (16.1) 20 (9.2) *Active AD

was determined by concomitant medication usage of the following medications during the study: topical corticosteroids, topical calcineurin inhibitors, and/or PDE-4 inhibitors Note: Slide reflects pooled data from Phase 3 molluscum trials (CAMP-1 and

Phase 3 Studies in Molluscum

Demonstrate Statistically Significant Efficacy on Primary Endpoint of Complete Clearance vs. Vehicle1 Note: Slide reflects pooled data from Phase 3 molluscum trials (CAMP-1 and CAMP-2) (1) Eichenfield Amer J Clin Derm 2021 Copyright 2021

Phase 3 Studies in Molluscum

Demonstrate Statistically Significant Efficacy on Percent Reduction of Lesions vs. Vehicle1 Note: Slide reflects pooled data from Phase 3 molluscum trials (CAMP-1 and CAMP-2) (1) Eichenfield Amer J Clin Derm 2021 Copyright 2021 Verrica

Phase 3 Discontinuation of Study

Medication Due to Treatment-Related Adverse Events1 N (%) VP-102 (N=311) Vehicle (N=216) Application Site Vesicles 5 (1.6) 0 (0) Application Site Pain 3 (1.0) 0 (0) Application Site Pruritus 1 (0.3) 0 (0) Contact Dermatitis 1 (0.3) 0 (0) Total

MC Commercial Opportunity Copyright

Realizing the Molluscum Opportunity

Prevalence in the US of 5.1% to 11.5% in children aged 0-16 years. (Fam Pract. 2014 Apr;31(2):130-6). US Census estimates ~69.4MM children aged 0 to 16 years in 2016. IQVIA projected dataset for 12 months ending October 2017 Not Diagnosed 5.1

Dermatologists are Familiar with API

Used in YCANTH (VP-102) & Would Use if Available Pompei DT et al. Cantharidin Therapy: Practice patterns and attitudes of health care providers. Journal of the American Academy of Dermatology. 2013; 68(6). Survey of 400 healthcare

providers, 87.7% of responders were US based dermatologists. Company survey of 40 physicians. Physicians who do not use the API of YCANTH (VP-102) stated inaccessibility as a primary reason why they are not using(1) Physicians reported they

Physicians are Highly Favorable to

YCANTH (VP-102) Profile Physician Qualitative research- one-hour individual interviews [n=30 Pediatricians, 13 Dermatologist, 5 Pediatric Dermatologists] Derms and Ped Derms (1) Pediatricians (1) 5.6 6.3 Efficacy Efficacy KEY REASONS TO USE

IF APPROVED Convenience of administration Frustrated with not treating and having no viable options Scale of 1 (unlikely to use at all) to 7 (highly likely to use) Precise and pain free application FDA approval Fits into their current office model

Multiple Payer Research Studies

Suggest Favorable Reimbursement Landscape for YCANTH (VP-102) Source: Third party study commissioned by the Company. COHORT SIZE AVERAGE LIVES COVERED Medical Directors 7 9.8M Pharmacy Directors 6 4.2M IDN Stakeholders 2 6.5M The 15 Payer

Multiple Payer Research Studies

Suggest Favorable Reimbursement Landscape for YCANTH (VP-102) 1 2 3 4 Payers interviewed recognize a significant unmet need for molluscum contagiosum and lack of an effective treatment Some of the key concerns mentioned about the

undertreatment of the condition include the risk of infection, scarring, or spread of the disease Payers perceived YCANTH (VP-102) to be highly favorable based on the majority of patients experiencing clearance within 12 weeks Given the unmet

need and favorable clinical outcomes in Phase 2 trials, payers anticipate the majority of patients would have access to YCANTH (VP-102) with minimal to no restrictions Source: Third party study commissioned by the Company. Key Takeaways

Medical Benefit Advantages Over

Pharmacy Benefit Medical Benefit Pharmacy Benefit Reimbursement for products administered in office by HCP More common Less common Reimbursable upon launch prior to clinical review More common Less common Subject to rebates and discounts in order to

obtain formulary access Less common More common Gross-to-Net Deductions Typically, lower deductions than Pharmacy Benefit Typically, higher deductions to meet rebate demands and costs of co-pay program Patient obligation Typically, averages 20%

Integrated Commercial Approach with

Multiple Strategic Levers Disease Awareness Increase treatment seekers through cost- efficient consumer advertising Dedicated Institutional Team Specialists to promote to dermatologists in academic settings and group practices Specialized Sales Team

Targeting office-based and institutional Dermatologists, and select Pediatricians Buy and Bill or Specialty Pharmacy Forward Deployed Inventory Supportive HUB services Dedicated field reimbursement Team KOL Engagement Strong established

Physician Choice of Distribution

Model Buy-and-Bill Specialty Pharmacy HCP Reimbursement Permanent J-code Yes (within 1-2 quarters post-launch); Reimbursed under miscellaneous J-code until permanent J-code assigned No Office visit fee Yes Yes Lesion destruction (CPT 17110, 17111)

Yes Yes Margin on sale of product Yes, typically 6%-10% of ASP (dependent on health plan) No Distribution Forward-deployed Inventory Model Specialty Pharmacy Model Verrica sells product to distributor Distributor supplies product on consignment

basis to physicians Allow physicians to pay for inventory after the claim has been adjudicated and the patient agrees to treatment through RFID technology RX filled by pharmacy network The pharmacy will also support prior-authorizations, if