Company: VRCA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001660334-25-000006
Chunk: 33

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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For the Three Months Ended September 30,For the Nine Months Ended September 30,2025202420252024Selling, general and administrative$431 $1,503 $1,804 $4,840 Research and development287 605 828 1,568 Total stock-based compensation$718 $2,108 $2,632 $6,408 Stock OptionsThe following table summarizes the Company’s stock option activity for the nine months ended September 30, 2025:Number of sharesWeighted averageexercise priceWeighted averageremaining contractualterm (in years)Aggregate intrinsicvalueOutstanding as of December 31, 2024800,544$49.49 7.3Granted551,2306.29 Exercised—— — Forfeited(124,932)22.18 Expired(220,364)96.95 Outstanding as of September 30, 20251,006,478$18.83 8.9$— Options vested and exercisable as of September 30, 2025236,408$47.50 7.5$— The aggregate intrinsic value in the above table is calculated as the difference between fair market value of the Company’s common stock price and, as of September 30, 2025, the exercise price of the stock options. The weighted average grant date fair value per share for the employee and non-employee stock options granted during the nine months ended September 30, 2025 was $4.30. As of September 30, 2025, the total unrecognized compensation related to unvested stock option awards granted was $4.5 million, which the Company expects to recognize over a weighted-average period of 2.32 years.Restricted Stock UnitsCompensation expense related to RSUs is recognized in the Company’s statements of operations based on the fair market value at the date of grant over the period expected to vest. As of September 30, 2025, the remaining unrecognized compensation expense related to the RSUs was $1,961, which the Company expects to recognize over a weighted average service period of 0.25 years.

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The following table summarizes the Company's restricted stock unit activity for the nine months ended September 30, 2025:Number of SharesWeighted AverageGrant Date FairValueNonvested as of December 31, 202438,426$22.40 Granted—— For