Company: VRCA
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0000950170-25-070452
Chunk: 1

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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VERRICA PHARMACEUTICALS INC.

BALANCE SHEETS

(in thousands, except share and per share amounts)

(unaudited)

     March 31,

     December 31,

     2025

     2024

     ASSETS

     Current assets:

     Cash and cash equivalents
      
     $
     29,595

     $
     46,329

     Accounts receivable

     5,607

     48

     Unbilled collaboration revenue

     46

     29

     Inventory

     2,459

     2,463

     Prepaid expenses and other current assets

     1,767

     2,310

         Total current assets

     39,474

     51,179

     Property and equipment, net

     537

     589

     Operating lease right-of-use asset

     764

     836

     Finance lease right-of-use asset

     1,027

     1,154

     Other non-current assets

     376

     376

     Total assets
      
     $
     42,178

     $
     54,134

     LIABILITIES AND STOCKHOLDERS’ DEFICIT

     Current liabilities:

     Accounts payable
      
     $
     1,443

     $
     1,896

     Accrued expenses and other current liabilities

     14,484

     13,511

     Current portion of long-term debt

     12,821

     12,938

     Operating lease liability

     321

     315

     Finance lease liability

     327

     352

         Total current liabilities

     29,396

     29,012

     Operating lease liability

     500

     583

     Finance lease liability

     655

     768

     Derivative liability

     2,394

     2,648

     Long term debt

     27,809

     30,983

     Total liabilities

     60,754

     63,994

     Commitments and Contingencies (Note 6)

     Stockholders’ deficit:

     Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 202