Company: VRCA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000950170-25-107358
Chunk: 1

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-08-12
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)

     June 30,

     December 31,

     2025

     2024

     ASSETS

     Current assets:

     Cash and cash equivalents
      
     $
     15,396

     $
     46,329

     Accounts receivable

     9,193

     48

     License and collaboration receivable, billed and unbilled

     8,178

     29

     Inventory

     2,522

     2,463

     Prepaid expenses and other current assets

     1,492

     2,310

         Total current assets

     36,781

     51,179

     Property and equipment, net

     315

     589

     Operating lease right-of-use asset

     690

     836

     Finance lease right-of-use asset

     945

     1,154

     Other non-current assets

     376

     376

     Total assets
      
     $
     39,107

     $
     54,134

     LIABILITIES AND STOCKHOLDERS’ DEFICIT

     Current liabilities:

     Accounts payable
      
     $
     2,321

     $
     1,896

     Accrued expenses and other current liabilities

     13,101

     13,511

     Deferred revenue

     481

     -

     Current portion of long-term debt

     12,673

     12,938

     Operating lease liability

     328

     315

     Finance lease liability

     318

     352

         Total current liabilities

     29,222

     29,012

     Operating lease liability

     416

     583

     Finance lease liability

     579

     768

     Derivative liability

     1,796

     2,648

     Long term debt

     24,578

     30,983

     Total liabilities

     56,591

     63,994

     Commitments and Contingencies (Note 6)

     Stockholders’ deficit:

     Preferred stock, $0.0001 par value; 10,000,000 shares authorized;