Verrica Pharmaceuticals Reports Third Quarter 2025 Financial Results - Company reports $14.3 million in revenue in Q3'25, consisting of $3.6 million in YCANTH revenue and $10.7 million of license and collaboration revenu

Verrica Pharmaceuticals Reports Third Quarter 2025 Financial Results

- Company reports $14.3 million in revenue in Q3'25, consisting of $3.6 million in YCANTH

revenue and $10.7 million of license and collaboration revenue -

- Reports positive feedback from the FDA and alignment regarding the study design of a

Phase 3 program for VP-315 in basal cell carcinoma; Company presented new data on

VP-315 at the recent Society for Immunotherapy of Cancer conference -

- Received positive feedback from European Medicines Agency that supports a Marketing

Authorization Application filing for YCANTH for molluscum without need for additional Phase 3 studies -

- Received $10 million cash milestone payment for approval of YCANTH for molluscum in Japan -

- Conference call scheduled for Monday, November 17, 2025, at 8:30 am ET -

WEST CHESTER, PA - November 14, 2025 (GLOBE NEWSWIRE) - Verrica Pharmaceuticals Inc. ("Verrica") (Nasdaq: VRCA), a dermatology

therapeutics company developing and selling medications for skin diseases requiring medical interventions, today announced financial results for the third quarter ended September 30, 2025.

"In the third quarter, Verrica achieved multiple commercial, corporate, scientific and regulatory milestones providing a strong foundation for future

growth in YCANTH as well as significant upside potential from our late-stage clinical pipeline," said Jayson Rieger, PhD, MBA, President and Chief Executive Officer of Verrica. "Throughout the past year, while growing adoption of YCANTH

for molluscum, we have also significantly advanced our late-stage clinical programs in two of the highest unmet needs in dermatology."

Dr. Rieger continued, "For the nine months ending September 30, 2025, we dispensed 37,642 applicator units compared to 17,119 units in the

prior year, representing a 120% increase. I commend our team for more than doubling dispensed units of YCANTH over this period while reducing operating expenses by nearly half. We also made three significant advances in our development pipeline over

this same period. First, we have begun our global Phase 3 clinical program of YCANTH (VP-102) in common warts with our Japanese development partner, Torii Pharmaceutical, with targeted first patient enrolled

in the United States this year. Verrica also

helped support Torii in obtaining the approval of YCANTH for molluscum in Japan in September. Second, we recently received European regulatory feedback providing a pathway to registration for

YCANTH for molluscum in Europe without the need for additional Phase 3 studies. Finally, we received clear and positive feedback from the FDA about the study design for a Phase 3 development program for our oncology asset, VP-315, for basal cell carcinoma, the most common form of skin cancer. Each of these development opportunities represent meaningful future growth potential for Verrica, and together we believe they compose one of

the most advanced portfolios of late-stage product candidates in dermatology."

"Recent interest in Verrica's pipeline candidates at

multiple scientific and business conferences has demonstrated the potential of our portfolio, enabling potential partnering and other non-dilutive financing discussions to help support further development and

commercialization efforts for these late-stage programs. I couldn't be more proud of our simultaneous achievement of these goals, and we are excited to see what's ahead for Verrica into the end of 2025 and beyond," concluded

Conference Call and Webcast Information

The Company will host a conference call on Monday, November 17, 2025, at 8:30 am, to discuss its third quarter 2025 financial results and provide a

business update. To participate in the conference call, please utilize the following information:

Number: Toll-Free: 1-800-245-3047

International Dial-In Number: 1-203-518-9765

Conference ID: VERRICA

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

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

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

Third Quarter 2025 Financial Results

Year-to-Date September

2025 Financial Results

Non-GAAP Financial Measures

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

(loss) from operations, non-GAAP net income (loss) and non-GAAP net income (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 income (loss) from

operations, non-GAAP net income (loss) and non-GAAP net income (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 income (loss) from operations, non-GAAP net income (loss)

and non-GAAP net income (loss) per share have been reconciled to the nearest GAAP measure in the tables following the financial statements in this press release.

About YCANTH (VP-102)

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 healthcare professional-administered 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 250 million lives are eligible to receive YCANTH covered by insurance. Commercially insured patients pay just $25 per YCANTH treatment visit, for up to two

applicators. Other uninsured patients may be eligible to receive YCANTH at a reduced cost if certain eligibility requirements are met for patient assistance. Please visit YCANTHPro.com for additional information.

VP-315 is a potential first-in-class oncolytic chemotherapeutic peptide immunotherapy administered directly into a tumor to induce

immunogenic cell death and thereby unleashing a broad spectrum of tumor antigens for T cell responses, which may offer a non-surgical option for patients suffering from skin cancer. The technology is based on

pioneering research in "host defense peptides" - nature's first line of defense towards foreign pathogens. Verrica holds an exclusive worldwide license to develop and commercialize

VP-315 for certain dermatologic oncology indications, including non-metastatic melanoma and non-metastatic merkel cell carcinoma,

and intends to focus initially on basal cell and squamous cell carcinomas as the lead indications for development. VP-315 has demonstrated positive tumor-specific immune cell responses in multi-indication

Phase 1/2 oncology trials.

About Verrica 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 healthcare professional-administered 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

(ruxotemitide, 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.

About Dispensed Applicator Units

Dispensed applicator units represent applicators (a) shipped to healthcare professionals from Verrica's contracted pharmacy partners for

fulfillment, (b) sold by Verrica's distribution partners to independent and regional pharmacies, and (c) sold to physician offices, hospitals and other clinics on a buy and bill basis.

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 Company's future commercial growth for YCANTH, future upside from its late-stage clinical pipeline, timing of patient enrollment in the global Phase 3 program in common warts, the launch of YCANTH Rx in

the fourth quarter of 2025, the timing of the manufacturing transfer to Torii, sales force increases, development and regulatory plans for YCANTH in Europe or other international markets, the clinical development of YCANTH for additional

indications, potential partnering and non-dilutive financing transactions, and the benefits of Verrica's product candidates, including YCANTH. 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 PHARMACEUTICALS INC.

Reconciliation of Non-GAAP Financial Measures (unaudited)

(in thousands, except per share data)

VERRICA PHARMACEUTICALS INC.

Reconciliation of Non-GAAP Financial Measures (unaudited)

(in thousands, except per share data)

FOR MORE INFORMATION, PLEASE CONTACT:

Chief Financial Officer