Verrica Pharmaceuticals Reports First Quarter 2019 Financial Results -Reported positive topline data from pivotal Phase 3 clinical trials of VP-102 for the treatment of molluscum contagiosum -Preparing to submit NDA in s

Verrica Pharmaceuticals Reports First Quarter 2019

-Reported positive topline data from pivotal Phase 3 clinical trials of VP-102 for the treatment

of molluscum contagiosum

-Preparing to submit NDA in second half of 2019

WEST CHESTER, PA May 7, 2019 (GLOBE NEWSWIRE) Verrica Pharmaceuticals Inc. ( Verrica ) (Nasdaq: VRCA), a

medical dermatology company committed to the development and commercialization of novel treatments that provide meaningful benefit for people living with skin diseases, today announced financial results for the first quarter ended March 31,

The first quarter of 2019 was monumental for Verrica as we reported positive Phase 3 topline data of our lead product candidate, VP-102, for the treatment of molluscum contagiosum, and then presented that data to the medical community during a late-breaking session at the American Academy of Dermatology annual meeting, commented Ted

White, President and Chief Executive Officer of Verrica. We are focused on continuing that momentum with healthcare providers, enhancing disease awareness for this under-treated condition, and preparing to submit the company s first new

drug application with the FDA in the second half of 2019. Molluscum is a highly contagious viral skin infection affecting approximately six million people, primarily children, in the United States and our ultimate goal is to bring a safe and

efficacious, FDA-approved treatment option to them.

Business Highlights and Recent Developments

Verrica reported a net loss of

$7.5 million for the first quarter of 2019, compared to a net loss of $1.8 million for the same period in 2018.

Research and development

expenses were $4.5 million in the first quarter of 2019, compared to $0.9 million for the same period in 2018. The increase was primarily due to the advancement of the VP-102 clinical development

programs for the treatment of molluscum and common warts and an increase in costs associated with increased headcount and associated salary, bonus and stock-based compensation expense.

General and administrative expenses were $3.5 million in the first quarter of 2019, compared to $1.0 million for the same period in 2018. The

increase was primarily due to increased corporate infrastructure and additional costs associated with operating as a public company.

2019, Verrica had aggregate cash, cash equivalents and marketable securities of $83.3 million.

About Verrica Pharmaceuticals Inc.

Verrica Pharmaceuticals is a medical dermatology company committed to the development and commercialization of novel treatments that provide meaningful benefit

for people living with skin diseases. The company s late-stage product candidate, VP-102, is a potential first-in-class

topical therapy for the treatment of molluscum contagiosum, a highly contagious viral skin infection affecting approximately six million people, primarily children, in the United States. There are currently no

FDA-approved treatments for molluscum. Following positive topline results from two pivotal Phase 3 trials, a New Drug Application for VP-102 for the treatment of

molluscum is planned for the second half of 2019. VP-102 is also currently in a Phase 2 trial for the treatment of common warts, with an additional Phase 2 trial planned in external genital warts. A second

product candidate, VP-103, is in pre-clinical development for plantar warts. For more information, visit www.verrica.com.

Cautionary Note Regarding Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the

Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as believe , expect , may , plan , potential , will , and similar expressions, and

are based on Verrica s current beliefs and expectations. These forward-looking statements include expectations regarding the potential submission of a new drug application in the second half of 2019 for

VP-102 for the treatment of molluscum, clinical development of Verrica s product candidates, including the receipt of topline results from the Phase 2 trial of

VP-102 in common warts and the initiation of a Phase 2 trial in external genital warts in the second quarter of 2019. These statements 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, Verrica s

reliance on third parties over which it may not always have full control, and other risks and uncertainties that are described in Verrica s Annual Report on Form 10-K for the year ended December 31,

2018, filed with the U.S. Securities and Exchange Commission on March 7, 2019, and other filings Verrica makes with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and

are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.

VERRICA PHARMACEUTICALS INC.

Statements of Operations

(unaudited, in thousands except share and per share data)

VERRICA PHARMACEUTICALS INC.

Selected Balance Sheet Data

(unaudited, in thousands)

Chief Financial Officer

484.453.3300 ext. 103

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