Company: VRCA
Filing Date: 2025-02-21
Form Type: 8-K
Source: 0001193125-25-032003
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Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-02-21
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On February 18, 2025, Verrica Pharmaceuticals Inc. (the “ Company”) entered into a waiver (the “ Waiver”)
to its Credit Agreement dated as of July 26, 2023 (as amended prior to the Waiver, the “ Credit Agreement”), by and between the Company, as borrower, OrbiMed Royalty & Credit Opportunities IV, LP, as a lender, each other lender that may from time to time become a party thereto, and OrbiMed Royalty & Credit Opportunities IV, LP, as administrative agent for the lenders. Pursuant to the Waiver, the lenders waived specified covenants under the Credit Agreement, including the requirements under Section 7.1(b) and Section 7.1(c) of the Credit Agreement that there be no “going concern” qualification with respect to the financial statements for the year ended December 31, 2024 and the quarter ending March 31, 2025.

Except as set forth in the Waiver, the remaining terms of the Credit Agreement remain unchanged. The foregoing description of the terms of the Waiver is not intended to be complete and is qualified in the entirety by reference to the Waiver, which the Company expects to file as an exhibit to the Company’s Annual Report on Form 10-K forthe year ended December 31, 2024.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                               Verrica Pharmaceuticals Inc.     
  Date: February 21, 2025      /s/ John J. Kirby                
                               John J. Kirby                    
                               Interim Chief Financial Officer