Exhibit 99.1
Verrica Pharmaceuticals Reports First Quarter 2024 Financial Results
Reports YCANTH® revenue of $3.2M for first quarter of 2024
Over 228 million lives now covered to date on commercial insurance, managed Medicaid, Tricare and Federal Employee plans
Preliminary Phase 2 results for VP-315 in the treatment of basal cell carcinoma (BCC)
expected in the second quarter of 2024
Conference Call Scheduled for Today at 8:30 am ET
WEST CHESTER, PA May 13, 2024 (GLOBE NEWSWIRE) Verrica Pharmaceuticals Inc. (Verrica) (Nasdaq: VRCA), a dermatology therapeutics
company developing medications for skin diseases requiring medical interventions, today announced financial results for the first quarter ended March 31, 2024.
The first quarter of 2024 marked a period of significant accomplishments across our business, as we continued to expand utilization of YCANTH, received
a permanent J-Code from CMS, and secured new chemical entity status from the FDA for YCANTH, said Ted White, Verricas President and Chief Executive Officer. I am also pleased to report that
we have seen a meaningful uptick in prescription growth and onboarding of buy and bill accounts following the listing of the permanent J-Code for YCANTH, which went into effect on April 1.
Looking ahead, this quarter we expect to
announce Phase 2 results from our lead pipeline candidate, VP-315, which is being evaluated for the treatment of basal cell carcinoma. As a potential first-in-class oncolytic peptide, VP-315 is designed to have a direct killing activity of the cancer cells, and also to stimulate the immune system to recognize,
infiltrate, and attack the cancer. We expect to share data from the Phase 2 study later this quarter, and we are excited about VP-315s potential to provide an important treatment alternative for the
thousands of patients who are diagnosed each year with BCC.
Conference Call and Webcast Information
The Company will host a conference call today, Monday, May 13, 2024, at 8:30 AM, Eastern Time, to discuss its first quarter 2024 financial results and
provide a business update. To participate in the conference call, please utilize the following information:
Domestic Dial-In Number: Toll-Free: 1-877-407-4018
International Dial-In Number: 1-201-689-8471
Conference ID: 13746100