Verrica (VRCA) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool Wed, May 13, 2026 at 9:13 PM GMT+7 29 min read Image source: The Motley Fool. Chief Commercial Officer — Chris Chapman Interim Chief Financial Officer — John Kirby Need a quote from a Motley Fool analyst? Email pr@fool.com Jayson Rieger: Thank you, Kevin. Good evening, everyone, and thank you for joining us on our first quarter 2026 corporate update call. I am pleased to report that in the first quarter, we saw accelerating growth in market demand for YCANTH, setting new records for dispensed applicator units during the quarter and in the month of March. This growth continued after the end of the quarter as we observed further increased demand in April. YCANTH also achieved another significant milestone in February as our partner, Torii Pharmaceutical, launched YCANTH in Japan for patients with molluscum following their regulatory approval last year. Our hope is that Japan is only the beginning of our global expansion efforts for YCANTH as we are actively working to expand the availability of YCANTH into new markets around the world. While we grow the YCANTH business, we re also advancing our product portfolio. As you may recall, in January we announced that the first patient had been dosed in our global Phase III program for the treatment of common warts, which represents a critical milestone in our strategy to expand into new indications. I m proud to announce that we have achieved more than 50% of the currently targeted enrollment in the first Phase III trial, also known as COVE-2, and have begun enrolling patients in the long-term follow-up study, COVE-4 in this program. Our target is to initiate the second Phase III trial known as COVE-3 in this program by mid-2026. We also continue to advance our Phase III-ready asset, VP-315, for the treatment of basal cell carcinoma as we ve begun efforts to secure clinical supplies and select a CRO to support initiation of the Phase III program. VP-315 is garnering increasing attention within the dermatology community based on compelling proof-of-concept data from our Phase II program. I ll now provide a detailed update on our YCANTH commercial business. In the first quarter of 2026, we reported total revenue of $5 million, including U.S. YCANTH product revenue of $4.3 million, which was up 25.4% over the first quarter of 2025. First quarter U.S. YCANTH dispensed applicator units increased to 15,302, growing 51.3% over the first quarter of 2025. On a sequential basis, U.S. YCANTH revenue and dispensed applicator units increased 15.3% and 12.1%, respectively, compared to the fourth quarter of 2025. As noted in our last call in March, while demand for YCANTH in January was likely impacted by severe winter weather across the East Coast, demand accelerated sharply in February and continued into March, which saw the best monthly dispensed applicator unit total since the launch of YCANTH. As we have now seen preliminary results for April, I am pleased to note that April dispensed applicator units also increased from March s then record level, and our team worked diligently every day to help more healthcare providers treat molluscum with what we believe to be is the best treatment available, YCANTH. As we ve noted in prior quarters, as we continue to prioritize the ease of access for healthcare providers and their patients, we continue to make substantial investments in our co-pay assistance program, which is impacted during the first few months of each year by the annual reset of insurance plan deductibles in January. To ensure the broadest access to YCANTH for healthcare providers, we launched YCANTH Rx, our non-dispensing pharmacy in the fourth quarter of 2025. YCANTH Rx simplifies the process for both the healthcare provider and patient by performing an initial benefit investigation and then triaging to an in-network dispensing pharmacy based upon the patient s unique healthcare coverage. Although YCANTH Rx is still in the early stage of rollout is being well received and in our view, will help further drive demand and coverage for YCANTH. We would again like to congratulate Torii Pharmaceutical, now a subsidiary of Shionogi, on their February commercial launch of YCANTH in Japan for patients with molluscum. This milestone reflects the culmination of significant efforts by many team members from both companies. The launch of YCANTH in Japan means that the commercial supply we provide to Torii has begun to offset Verrica s portion of the clinical costs of the common work program. As we announced in February, we also brought on board Chris Chapman as our new Chief Commercial Officer in the first quarter. Chris and his team are already doing an outstanding job in optimizing our resources to maximize the productivity of the YCANTH commercial efforts. Finally, as noted on our fourth quarter call, the Committee for Medicinal Products for Human Use of the European Medicines Agency provided positive feedback that supports t

Verrica (VRCA) Q1 2026 Earnings Transcript

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Verrica (VRCA) Q1 2026 Earnings Transcript

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