Verrica Posts $35.6M 2025 Revenue, Grows YCANTH Sales 130% and Launches Phase 3 Trials
Verrica Pharmaceuticals posted $35.6 million revenue in 2025 versus $7.6 million in 2024, grew YCANTH net sales 130% to $15.3 million and extended its cash runway into Q1 2027. It initiated Phase 3 common-warts dosing, advanced VP-315 toward mid-2026 basal-cell carcinoma trials and secured EMA alignment for EU approval without new studies.
1. 2025 Financial Highlights
Verrica generated $35.6 million in 2025 revenue, up from $7.6 million in 2024, and grew YCANTH net sales 130% to $15.3 million. The company dispensed 51,296 applicator units in 2025, cut SG&A expenses by over 40% and delivered a 58% year-over-year increase in Q4 applicator units.
2. Pipeline Advancements
The first patient was dosed in the global Phase 3 trial of YCANTH for common warts in December 2025, and a second Phase 3 study is planned for mid-2026 in the US and Japan with Torii Pharmaceutical. Verrica is also advancing oncolytic peptide VP-315 toward a Phase 3 program for basal-cell carcinoma in 2026, supported by preclinical abscopal effect data.
3. Commercial and Regulatory Developments
Torii launched YCANTH in Japan for molluscum contagiosum following Ministry of Health approval, and Verrica introduced the YcanthRx pharmacy hub for benefits investigation and prior authorizations. The company gained European Medicines Agency alignment to pursue YCANTH approval in the EU without additional clinical trials.
4. Financial Position and Outlook
Verrica has no outstanding debt and has extended its cash runway into the first quarter of 2027. Management highlights opportunities to enter new markets, expand the product portfolio and engage potential partners to drive non-dilutive funding and future revenue streams.