Verrica Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results Company generated quarterly sequential growth in YCANTH dispensed applicator units of 12.3% in Q4 24 concurrent with significantly lower

Verrica Pharmaceuticals Reports Fourth Quarter and Full Year 2024 Financial Results

Company generated quarterly sequential growth in YCANTH dispensed

applicator units of 12.3% in Q4 24 concurrent with significantly lower operating expenses

positive quarterly revenue earlier than previously disclosed expectations, as new demand resulted in Company s primary distribution partner ordering applicators of YCANTH during Q4 24

Late-stage pipeline continues to advance with programs in basal cell carcinoma (VP-315)

and common warts (VP-102/YCANTH)

Recently strengthened balance sheet

with the November 2024 $42 million public offering

Conference call scheduled for today at 4:30 pm ET

WEST CHESTER, Pa., March 11, 2025 (GLOBE NEWSWIRE) Verrica Pharmaceuticals Inc. ( Verrica or the Company ) (Nasdaq:

VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced financial results for the fourth quarter and full year ended December 31, 2024.

The fourth quarter began a transition period for our company, and we have already achieved several substantial milestones. We completed our commercial

strategy realignment, which generated promising sequential growth of dispensed applicator units of YCANTH while simultaneously implementing significant cost reductions across the organization. We also continued advancing our late-stage clinical

programs in basal cell carcinoma and common warts, said Dr. Jayson Rieger, PhD, MBA, President and Chief Executive Officer of Verrica. Rieger continued We successfully raised equity capital in the fourth quarter to strengthen our

balance sheet and allow us to remain focused on commercial execution and development of our clinical assets.

Based on achieving these early

milestones, I believe Verrica is now on track to successfully execute our turnaround strategy. Our goal is to generate cash positive monthly operating results by the end of 2025. To achieve this, our focus will remain to establish YCANTH as the

standard of care for the treatment of molluscum contagiosum. In parallel, we will work to create significant additional value by advancing our late-stage pipeline. We recently reported positive data from our Phase 2 study of our oncolytic peptide

candidate, VP-315, for the treatment of basal cell carcinoma, and we also anticipate advancing VP-102 (YCANTH) into a Phase 3 clinical trial for the treatment of common

warts as early as mid-2025. With a leaner and more capital-efficient operating model now in place, I believe 2025 is shaping up to become an important year for Verrica as we seek to address the most

significant unmet needs in dermatology.

Conference Call and Webcast Information

The Company will host a conference call today, Tuesday, March 11, 2025, at 4:30 PM, Eastern Time, to discuss its fourth quarter and year-end 2024 financial

results and provide a business update. To participate in the conference call, please utilize the following information:

Domestic Dial-In Number:

Toll-Free: 1-800-445-7795

International Dial-In Number: 1-785-424-1699

Conference ID: VERRICA

Participants can use Guest dial-in #s above and be answered by an operator.

The call will also be broadcast live over the Web and can be accessed on Verrica Pharmaceuticals website: www.verrica.com or directly at

https:// viavid.webcasts.com/starthere.jsp?ei=1706610&tp_key=fb81085fc6

The conference call will also be available for replay for one month on

the Company s website in the Events Calendar of the Investors section.

Business Highlights and Recent Developments

Quarter 2024 Financial Results

Full Year 2024 Financial Results

Non-GAAP Financial Measures

In evaluating the operating performance of its business, Verrica s management considers non-GAAP loss

from operations, non-GAAP net loss and non-GAAP net loss per share. These non-GAAP financial

measures exclude stock-based compensation expense and non-cash interest expense that are required

by GAAP. Verrica excludes non-cash stock-based compensation expense from these non-GAAP measures to facilitate

comparison to peer companies who also provide similar non-GAAP disclosures and because it reflects how management internally manages the business. In addition, Verrica excludes

non-cash interest expense from these non-GAAP measures to facilitate an understanding of the effects of the debt service obligations on the Company s liquidity and

comparisons to peer group companies who also provide similar non-GAAP disclosures and because it is reflective of how management internally manages the

business. Non-GAAP loss from operations, non-GAAP net loss and non-GAAP net loss per share should

be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. Non-GAAP loss from

operations, non-GAAP net loss and non-GAAP net loss per share have been reconciled to the nearest GAAP measure in the tables following the financial

statements in this press release.

YCANTH is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin delivered via a single-use applicator that allows for precise topical dosing and targeted administration for the treatment of molluscum. YCANTH is the first and only

commercially available product approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum a common, highly contagious skin disease that affects an estimated six million people in the United

States, primarily children. Approval of YCANTH was based upon the positive results from two Phase 3 clinical trials in approximately 500 patients which demonstrated that YCANTH was a safe and effective therapeutic for the treatment of molluscum. Approximately 225 million lives are eligible to receive

YCANTH covered by insurance. YCANTH is available to all patients with and without insurance coverage for $25 per treatment,

and further financial assistance is available for patients in need. Please visit YCANTHPro.com for additional information.

Pharmaceuticals Inc.

Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions.

Verrica s product YCANTH (VP-102) (cantharidin), is the first and only commercially available treatment approved by the FDA to treat adult and

pediatric patients two years of age and older with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. YCANTH (VP-102) is also in development to treat common warts, the largest remaining unmet need in medical dermatology. Verrica has also entered a worldwide

license agreement with Lytix Biopharma AS to develop and commercialize VP-315 (formerly LTX-315 and

VP-LTX-315) for non-melanoma skin cancers including basal cell carcinoma and squamous cell carcinoma. For more information,

visit www.verrica.com.

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 statements about the commercialization of YCANTH, cost management initiatives and preservation of capital resources, Verrica s ability to

generate cash positive monthly operating results by the end of 2025, the potential receipt of a milestone payment from Torii,

the potential exercise of Series A warrants and receipt of proceeds therefrom, and the clinical development and benefits of Verrica s product candidates, including YCANTH (VP-102) and VP-315. 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 risks and uncertainties related to market conditions, satisfaction of customary closing conditions related to the proposed public offering and other risks and uncertainties

that are described in Verrica s Annual Report on Form 10-K for the year ended December 31, 2024 and other filings Verrica makes with the SEC. 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

(in thousands except share and per share data)

VERRICA PHARMACEUTICALS INC.

Statements of Operations

(in thousands except share and per share data)

VERRICA PHARMACEUTICALS INC.

Selected Balance Sheet Data

VERRICA PHARMACEUTICAS INC.

Reconciliation of Non-GAAP Financial Measures (unaudited)

(in thousands except per share data)

FOR MORE INFORMATION, PLEASE CONTACT:

Interim Chief Financial Officer