--- title: "Verrica Pharmaceuticals details 1-for-10 reverse split and $8.0 million Torii" url: "https://aibio.space/news/verrica-pharmaceuticals-details-1-10-reverse-split-8-0-million-torii/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-08-12" section: "Listings" tickers: "NASDAQ:VRCA" source: "https://www.sec.gov/Archives/edgar/data/1660334/000119312525178954/d409147dex991.htm" summary: "Verrica's 1-for-10 reverse stock split took effect at the close of trading on July 24, 2025, cutting issued shares from 92,650,404 to 9,265,034. Second-qua" --- By the aibio.space news desk. Sources - [Verrica Pharmaceuticals Inc. 8-K (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1660334/000119312525178954/d409147dex991.htm) - [Verrica Pharmaceuticals Inc. 10-K (2025-03-11): business](https://www.sec.gov/Archives/edgar/data/1660334/000095017025037172/vrca-20241231.htm) [VRCA](https://aibio.space/companies/verrica-pharmaceuticals/) 2025-08-12 # Verrica Pharmaceuticals details 1-for-10 reverse split and $8.0 million Torii milestone Tickers [VRCA](https://aibio.space/companies/verrica-pharmaceuticals/) Verrica's 1-for-10 reverse stock split took effect at the close of trading on July 24, 2025, cutting issued shares from 92,650,404 to 9,265,034. Second-quarter net income of $0.2 million depended on an $8.0 million Torii milestone. ## Key facts - **Company**: Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) - **News type**: Listings - **Primary source**: [Verrica Pharmaceuticals Inc. 8-K (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1660334/000119312525178954/d409147dex991.htm) *The Capitol dome seen from below. Photo: U.S. Department of Homeland Security (Source), CC0, via rawpixel. The picture shows the field, not the companies named.* Verrica Pharmaceuticals, Inc., a dermatology company in West Chester, Pennsylvania, listed on Nasdaq as VRCA, reported its second-quarter 2025 results on August 12, 2025. The release also says the company effected a 1-for-10 reverse stock split at the close of trading on July 24, 2025. Every ten shares of issued and outstanding common stock were combined into one. The release says the split affected all stockholders uniformly and did not change any stockholder's percentage ownership. The split reduced issued shares from 92,650,404 to 9,265,034, and outstanding shares from 92,545,260 to 9,254,520. ## Revenue and the milestone Product revenue, net was $4.5 million for the quarter ended June 30, 2025, compared with $4.9 million a year earlier. The release says that product revenue relates to deliveries of YCANTH, the molluscum treatment, to distribution partners. The year-earlier figure included a one-time stock-in tied to adding a specialty distributor, which the release says was about 54% of that quarter's product revenue. License and collaboration revenue was $8.2 million, compared with $0.3 million a year earlier. That figure includes an $8.0 million milestone payment from Torii Pharmaceutical, which the company received in July 2025. Selling, general and administrative expenses were $8.9 million, against $16.5 million a year earlier. The release attributes the $7.7 million decrease mainly to lower commercial spending on YCANTH, including compensation, stock compensation, benefits and travel. ## Net income depends on the milestone The release reports net income of $0.2 million, or $0.02 per share, for the quarter. A year earlier, Verrica reported a net loss of $17.2 million, or $3.70 per share. The company also reports non-GAAP net income of $2.4 million, or $0.25 per share, which excludes stock-based compensation expense and non-cash interest expense. The swing from a loss to a profit reflects both the $8.0 million milestone and a $7.7 million cut in selling costs. Product revenue was lower than a year earlier, and interest expense was $2.1 million on borrowings under the OrbiMed credit agreement. The non-GAAP figure is higher than the GAAP one, and the quarter's profit rests on a one-time payment against recurring product sales. ## Torii and the common warts program Torii agreed to accelerate an $8 million milestone for starting the global Phase 3 program of YCANTH in common warts. Torii also agreed to pay a $10 million milestone in cash if Japanese regulators approve YCANTH, known as TO-208 in Japan, for molluscum. The release says a regulatory decision is expected by the end of 2025. Torii will split the costs of the global Phase 3 program with Verrica 50/50, and will pay the first $40 million of trial costs. Verrica expects to dose the first patient in the United States in the fourth quarter of 2025. ## The basal cell program The second key asset is VP-315, an oncolytic peptide-based injectable for basal cell carcinoma. Verrica says it has completed an end-of-Phase 2 meeting with the FDA, and that it is preparing a Phase 3 program. The company says it plans to explore strategic, non-dilutive partnerships to fund the program and its later commercialization. The release does not say what those partnerships would cost in rights or royalties, or whether any has been agreed. The company plans to present a fuller overview of VP-315, including more genomic and immune response data, at a scientific conference later this year. The chief executive describes the Phase 2 trial as showing positive proof-of-concept efficacy, but the release gives no figures from it. ## What the release leaves out The release describes no new financing and names no underwriter, placement agent, financial advisor or counsel. It reports $15.4 million in cash and cash equivalents at June 30, 2025, and names OrbiMed as the counterparty to the credit agreement that carries the interest expense. It does not say how long that cash would last. For the six months ended June 30, 2025, the company reported a net loss of $9.5 million, or $1.01 per share, and interest income fell because of a lower cash balance. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story VRCA Verrica Pharmaceuticals Inc. 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Cite as: aibio.space, "Verrica Pharmaceuticals details 1-for-10 reverse split and $8.0 million Torii", 2025-08-12, https://aibio.space/news/verrica-pharmaceuticals-details-1-10-reverse-split-8-0-million-torii/