Verrica Pharmaceuticals Q4 Earnings Call Highlights

Verrica Pharmaceuticals (NASDAQ:VRCA) utilized its 4th fourth and year-end 2025 firm update telephone to item what absorption described arsenic a “fundamental” concern translation driven by sharper commercialized execution, pipeline progress, and a strengthened equilibrium sheet.

President and CEO Jayson Rieger said the institution focused successful 2025 connected establishing YCANTH arsenic a “new modular of care” for molluscum contagiosum by stabilizing the commercialized enactment and investing successful diligent access. He reported YCANTH gross grew by much than 130% successful 2025 versus 2024, portion selling, wide and administrative (SG&A) expenses declined by much than 40% year-over-year implicit the aforesaid period.

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Rieger said YCANTH nett gross was $3.7 million successful the 4th fourth of 2025, up 3.2% sequentially from the 3rd quarter, with demand-driven purchases continuing. He besides emphasized that inventory levels were “normalized” for the 4th consecutive quarter, with shipments to distributors intimately tracking underlying demand.

Dispensed applicator units—a metric the institution uses to picture demand—were 13,654 successful Q4 2025, up 58% from Q4 2024 but down astir 3% from Q3 2025. Rieger attributed immoderate of the sequential softness to commercialized execution factors and aboriginal said January 2026 was apt affected by important wintertime upwind connected the East Coast. He noted that February dispensed applicator units per selling time rebounded to a grounds monthly precocious since launch.

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For the afloat twelvemonth 2025, Verrica reported 51,196 dispensed YCANTH applicator units, astir doubling from 25,773 successful 2024 (up 99%).

Management said the institution continues to put successful co-pay assistance to enactment affordability, which has affected gross-to-net estimates. In Q4, Verrica launched YcanthRx, a non-dispensing pharmacy intended to supply prescribers “a azygous spot to constitute each YCANTH prescriptions” and way prescriptions done a contracted dispensing pharmacy wrong the company’s web based connected a patient’s insurance. Rieger said the institution hopes these efforts collectively volition amended gross-to-net trends passim 2026.

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Chief Commercial Officer Chris Chapman, who joined successful Q4, said priorities see simplifying merchandise acquisition for patients and physicians and ensuring that erstwhile a diagnosis is made, a medicine is written. He reiterated that “watchful waiting” remains the largest competitory alternate successful molluscum, though absorption besides said the beingness of a rival (ZELSUVMI, mentioned during Q&A) validates request for progressive treatment.