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• Total Revenue (Q4 2024): $0.3 million, primarily from YCA sales.

• Total Revenue (Full Year 2024): $7.6 million, up from $5.1 million in 2023.

• Net Product Revenue (Full Year 2024): $6.6 million, compared to $4.7 million in 2023.

• Gross Product Margin (Full Year 2024): 72%.

• Research and Development Expenses (Q4 2024): $1.2 million, decreased by $4.2 million from Q4 2023.

• Research and Development Expenses (Full Year 2024): $11.8 million, down from $20.3 million in 2023.

• Selling, General and Administrative Expenses (Q4 2024): $10 million, decreased by $6.8 million from Q4 2023.

• Selling, General and Administrative Expenses (Full Year 2024): $58.8 million, up from $47.3 million in 2023.

• GAAP Net Loss (Q4 2024): $16.2 million or $0.24 per share.

• GAAP Net Loss (Full Year 2024): $76.8 million or $1.48 per share.

• Non-GAAP Net Loss (Full Year 2024): $64.6 million or $1.25 per share.

• Cash and Cash Equivalents (End of 2024): $46.3 million.

• YCA Dispense Applicator Units (Q4 2024): 8,654 units, a 12.3% increase from Q3 2024.

• Equity Financing (November 2024): Raised approximately $42 million.

• Warning! GuruFocus has detected 5 Warning Signs with VRCA.

Release Date: March 11, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Verrica Pharmaceuticals Inc (NASDAQ:VRCA) reported a sequential quarterly growth of 12.3% in YCA applicator units in Q4 2024, indicating positive sales momentum.

• The company successfully raised approximately $42 million in an equity follow-on offering in November 2024, strengthening its financial position.

• Verrica Pharmaceuticals Inc (NASDAQ:VRCA) reduced its operating expense burn rate by approximately 50%, achieving cost efficiency while maintaining sales levels.

• The company is advancing its clinical stage pipeline, including pursuing YCA for common warts and BP 315 for basal cell carcinoma, which are potential key value drivers.

• Verrica Pharmaceuticals Inc (NASDAQ:VRCA) has established strong insurance coverage for YCA and introduced a new single applicator configuration to reduce acquisition costs for physicians.

Negative Points

• Verrica Pharmaceuticals Inc (NASDAQ:VRCA) reported a GAAP net loss of $16.2 million for Q4 2024, reflecting ongoing financial challenges.

• The company's total revenues for Q4 2024 were only $0.3 million, indicating limited revenue generation from YCA.

• Verrica Pharmaceuticals Inc (NASDAQ:VRCA) faces risks related to its debt obligations, including the initiation of principal payments in 2025.

• The company has not provided specific revenue guidance for 2025, creating uncertainty about future financial performance.

• Verrica Pharmaceuticals Inc (NASDAQ:VRCA) continues to face competition from compounders, which could impact market adoption of its products.