Company: VRCA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001660334-25-000006
Chunk: 15

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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Stock-based compensation—— 2,228 — — —2,228 Exercise of stock options3,600— 146 4 — —150 Net loss—— — — (17,186)—(17,186)June 30, 20244,256,119$— $254,665 $— $(267,965)10,514$(13,300)Stock-based compensation—— 2,108 — — —2,108 Vesting of restricted stock units56,150— — — — —— Exercise of pre-funded warrants258,3241 — — — —1 Net loss—— — — (22,860)—(22,860)September 30, 20244,570,593$1 $256,773 $— $(290,825)10,514$(34,051)

The accompanying notes are an integral part of these financial statements.

4

Table of ContentsVERRICA PHARMACEUTICALS INC.STATEMENTS OF CASH FLOWS(in thousands)(Unaudited)

For the Nine Months Ended September 30,20252024Cash flows from operating activitiesNet loss$(9,812)$(60,377)Adjustments to reconcile net loss to net cash used in operating activities:Stock-based compensation2,632 6,408 Depreciation expense119 288 Non-cash interest expense2,075 1,571 Loss on disposal of fixed assets246 141 Loss on termination of financing lease3 260 Amortization of operating lease right-of-use asset220 246 Amortization of finance lease right-of-use asset252 482 Non-cash accretion of R&D funding liability375 — Change in fair value of derivative liability(886)— Changes in operating assets and liabilities:Prepaid expenses and other assets(1,276)(1,499)Collaboration receivable, billed and unbilled(253)84 Inventory159 — Accounts payable(311)(1,499)Deferred revenue1,564 — Accounts receivable(6,999)4,401 Accrued expenses and other current liabilities(911)4,886 Operating lease liability(233)(255)Net cash used in operating activities(13,036)(44,863)Cash flows from investing activitiesPurchases of property and equipment— (27