Company: VRCA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-037172
Chunk: 162

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1B
Chunk 162
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    19,763

    Stock-based compensation

    —

    —

    7,164

    —

    —

    —

    7,164

    Issuance of common stock, pre-funded warrants, and Series A and B warrants, net of issuance costs

    45,518,243

    4

    39,633

    —

    —

    —

    39,637

    Restricted stock vested

    561,500

    —

    —

    —

    —

    —

    —

    Exercise of stock options

    42,500

    1

    154

    —

    —

    —

    155

    Exercise of pre-funded warrants

    3,244,197

    —

    —

    —

    —

    —

    —

    Net loss

    —

    —

    —

    (76,579
    )

    —

    —

    (76,579
    )

    Balance as of December 31, 2024

    91,885,137

    $
    9

    $
    297,158

    $
    (307,027
    )

    105,144

    $
    —

    $
    (9,860
    )

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

96

VERRICA PHARMACEUTICALS INC.

STATEMENTS OF CASH FLOWS

(in thousands)

    For the Year Ended December 31,

    2024

    2023

    Cash flows from operating activities

    Net loss
     
    $
    (76,579
    )
     
    $
    (66,995
    )

    Adjustments to reconcile net loss to net cash used in operating activities:

    Stock-based compensation

    7,164

    14,376

    Depreciation expense

    342

    530

    Noncash interest expense

    2,187

    810

    Loss on disposal of fixed assets

    83

    2,537

    Amortization of operating lease right-of-use asset

    308

    286

    Amortization of finance lease right-of-use asset

    619

    20

    Impairment of right-of-use asset

    255

    —

    Loss on termination of financing lease

    19

    —

    Change in fair value of derivative liability