Verrica Pharmaceuticals

What Verrica Pharmaceuticals does

Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) is a U.S.-headquartered dermatology therapeutics company that develops and commercializes drug-device combination products and immunotherapies for viral skin diseases and non-melanoma skin cancers. Its lead commercial asset is YCANTH (VP-102), a cantharidin-based topical solution paired with a proprietary applicator that in July 2023 became the first and only FDA-approved treatment for molluscum contagiosum in adult and pediatric patients aged two and older. Verrica generates revenue primarily through direct U.S. product sales to dermatologists and pediatricians via a field force scaling from 40 to 50 representatives in 2026, supplemented by transfer-pricing and milestone payments plus future royalties from partner Torii Pharmaceutical, which launched YCANTH in Japan in February 2026 following September 2025 MHLW approval. Beyond the approved indication, Verrica is running a global Phase 3 program (COVE-1/COVE-3) targeting the ~22 million U.S. common-warts population — an indication with no FDA-approved therapy — and is developing VP-315 (ruxotemitide), a lytic-peptide immunotherapy licensed from Lytix Biopharma that showed a 97% objective response rate in Phase 2 basal cell carcinoma studies with potential abscopal effects. The company is also pursuing an EU MAA filing as early as Q4 2026, is publicly listed in West Chester, Pennsylvania with 51–100 employees, and remains EBITDA-negative while investing in commercial scaling, label expansion, and pipeline development funded by a $50 million November 2025 PIPE and a prior $42 million 2024 public offering.

Name

Verrica Pharmaceuticals

Legal name

Verrica Pharmaceuticals Inc.

Website

https://verricapharmaceuticals.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Verrica Pharmaceuticals (NASDAQ: VRCA) is a commercial-stage dermatology therapeutics company that markets YCANTH, the first FDA-approved treatment for molluscum contagiosum, to U.S. dermatologists and pediatricians while expanding into common warts, basal cell carcinoma, Japan, and the EU.

Ownership category

akta.pro rank

Product category

Dermatology Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Dermatology Specialty Pharmaceuticals (HLAIACAL)

Keywords

• Dermatology therapeutics
• Topical pharmaceuticals
• Drug-device combination
• Molluscum treatment
• Skin disease medications

Headquarters

HQ city

West Chester

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Others

Revenue model

1. YCANTH Product Sales: Revenue from direct sales of YCANTH product in the U.S. market. Q1 2026 U.S. product revenue was $4.3 million representing 25.4% year-over-year growth. Full year 2025 YCANTH product revenue was $15.3 million.
2. Milestone Payments from Torii: One-time payments from partner Torii Pharmaceutical upon achievement of development and regulatory milestones. In 2025, Verrica received $18 million in milestone payments from Torii.
3. Transfer Price Revenue (Japan): Verrica supplies YCANTH applicators to Torii Pharmaceutical at a transfer price during the manufacturing transfer period, followed by royalties on net sales after manufacturing transfer completion.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Verrica Pharmaceuticals develops and commercializes prescription dermatology therapeutics for skin diseases requiring medical intervention. Its flagship product YCANTH (VP-102) is an FDA-approved drug-device combination topical treatment for molluscum contagiosum in adult and pediatric patients two years and older, with pipeline expansion into common warts. Additional pipeline candidates include VP-315, an investigational immunotherapy for basal cell carcinoma derived from a lytic peptide technology platform, and VP-103.

Product overview

Verrica Pharmaceuticals is a dermatology therapeutics company focused on developing and commercializing medications for skin diseases. The company's portfolio includes FDA-approved YCANTH (VP-102) for molluscum contagiosum, pipeline candidates VP-315 for basal cell carcinoma, and VP-103 for additional dermatological conditions. The company is also expanding YCANTH into common warts treatment through Phase 3 trials. Products include a drug-device combination approach with proprietary formulations and applicators. Verrica operates primarily in the U.S. with international expansion through partnership with Torii Pharmaceutical in Japan.

Differentiator

Problem solved

Functional benefit

Products and services

• YCANTH (VP-102) FDA-approved drug-device combination topical treatment containing a proprietary cantharidin-based formulation with a specialized applicator, indicated for molluscum contagiosum in adult and pediatric patients two years of age and older. The same product is being evaluated in a global Phase 3 program (COVE-3) for common warts, which would make it the first FDA-approved therapy for that indication.
• VP-315 (Ruxotemitide) Investigational immunotherapy for basal cell carcinoma and non-melanoma skin cancers, derived from a licensed lytic peptide technology platform. Phase 2 data showed a 97% objective response rate with over half of lesions achieving complete histological resolution and evidence of abscopal effects in untreated tumors.
• VP-103

Quantifiable outcome

• 25.4% year-over-year growth in U.S. YCANTH product revenue (Q1 2026)
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Torii PharmaceuticalcoreChannel Partner/ Reseller/ Distributor · 1 December 2025Development and commercialization partnership for YCANTH in Japan. Torii received Japanese Ministry of Health approval in September 2025 and launched YCANTH in February 2026. Companies share Phase 3 costs 50/50, with Torii funding first $40 million of trial costs. Verrica supplies product at transfer price and receives royalties after manufacturing transfer.
• Torii PharmaceuticalcoreStrategic or Co-development PartnerGlobal Phase 3 program for YCANTH (VP-102) in common warts with cost-sharing arrangement. Torii funding approximately 90% of current trial budget under 50/50 cost-sharing. Verrica retains full commercial rights outside Japan.
• Lytix BiopharmacoreStrategic or Co-development PartnerLicensing partner for ruxotemitide (VP-315), an investigational immunotherapy derived from Lytix's lytic peptide technology platform. Phase 2 data in basal cell carcinoma presented at SITC. Verrica holds license for dermatologic oncology applications.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Arcutis Biotherapeutics: Commercial-stage medical dermatology biotech with FDA-approved topical products (e.g., Zoryve) and similar small-cap public profile. Comparable in therapeutic focus on skin diseases, prescriber base (dermatologists/PCPs), and commercial-stage execution challenges.
• Aclaris Therapeutics: Clinical and commercial-stage dermatology company developing therapeutics for skin diseases. Similar size, similar dermatology-focused R&D model with both approved and pipeline assets targeting underserved skin conditions.
• Dermavant Sciences (Organon): Dermatology-focused company now part of Organon that developed VTAMA (tapinarof) for psoriasis and atopic dermatitis. Directly comparable medical dermatology peer with similar prescriber base and topical therapeutic approach. Verrica's new CPO came from Dermavant.
• AnaptysBio: Clinical-stage immunology company with dermatology and inflammatory disease focus, partnering assets with larger pharma. Comparable R&D-stage dermatology biotech profile with multiple pipeline candidates.

Broad incumbents

• Incyte Corporation: Established biopharma with Opzelura (ruxolitinib cream), the leading topical JAK inhibitor in atopic dermatitis and vitiligo. Comparable in dermatology commercial infrastructure and prescriber relationships, though Incyte is far larger and broader.
• Galderma: Global dermatology pure-play with broad portfolio across prescription, aesthetics, and consumer skincare. Comparable prescriber base and dermatology commercial scale, though much larger and more diversified than Verrica.
• Pfizer (Dermatology): Large incumbent with EUCRISA (crisaborole) for atopic dermatitis and broader dermatology franchise. Comparable prescriber relationships and infrastructure, though as a broad pharma company with substantially greater resources.
• AbbVie (Dermatology): Major incumbent in dermatology via Skyrizi and Rinvoq for psoriasis and other inflammatory skin conditions. Comparable prescriber base and dermatology commercial footprint, though with vastly larger resources and portfolio breadth.
• Sun Pharma (Dermatology): Global specialty pharma with dermatology portfolio including ILUMYA (tildrakizumab) for psoriasis. Comparable medical dermatology focus and prescriber base, with significantly greater commercial scale globally including India.

Emerging players

• Biofrontera: Smaller dermatology company focused on actinic keratosis and superficial skin cancers. Comparable in dermatology therapeutics and prescriber overlap with dermatologists, though focused on different indications.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/VerricaPharma
• Facebookfacebook.com/verrica.pharmaceuticals
• LinkedInlinkedin.com/company/verricapharma

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds9 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Verrica Pharmaceuticals