Verrica Completes Pivotal YCANTH Phase 3 Enrollment for Common Warts Treatment

Key Points

• Verrica completed enrollment in COVE-2, its first pivotal Phase 3 trial of YCANTH for common warts.
• A blinded, per-protocol statistical power analysis found that no additional COVE-2 patients were needed.
• The company expects COVE-2 topline trial data in the first quarter of 2027.
• COVE-3, the second pivotal trial, has surpassed 50% of its targeted enrollment ahead of schedule.
• Verrica expects topline results from the remaining common-warts program by mid-2027.
• YCANTH is currently FDA approved for molluscum contagiosum, not common warts.

 Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) has completed enrollment in COVE-2, the first pivotal Phase 3 trial of YCANTH for common warts. The milestone keeps the company on track to report topline results in the first quarter of 2027 and could support a future expansion of YCANTH beyond its currently approved molluscum contagiosum indication.

Completed COVE-2 Enrollment Moves YCANTH Closer to a Potential Common Warts Expansion

COVE-2 is the first pivotal study in Verrica’s Phase 3 clinical program evaluating YCANTH, also known as VP-102, as a treatment for common warts. With patient enrollment complete, the study will now progress through treatment, follow-up, database analysis, and its planned first-quarter 2027 topline data release.

The trial is a randomized, double-blind, vehicle-controlled study that evaluates YCANTH treatment once every 21 days for up to four applications. It is enrolling patients ages two and older with common warts and is being conducted in the United States.

A positive result could give Verrica the evidence needed to pursue a new FDA indication for common warts. However, completed enrollment is an operational milestone—not proof that the treatment has met its efficacy or safety objectives.

Blinded Interim Analysis Confirms Current Trial Enrollment Is Sufficient

Verrica said a blinded per-protocol interim statistical power analysis was completed by an independent statistician during the COVE-2 study. The analysis concluded that no additional patients were recommended to complete the trial.

This finding supports the company’s original enrollment assumptions and allows it to continue toward the planned data timeline without extending recruitment. Because the analysis remained blinded, it does not disclose whether YCANTH is performing better than the vehicle control or whether it is likely to achieve the trial’s primary endpoint.

COVE-3 Trial Adds International Evidence for the YCANTH Common Warts Program

Verrica is conducting a second pivotal trial, COVE-3, to support its broader common-warts development strategy. COVE-3 is enrolling patients in the United States and Japan, and the company said it has exceeded 50% of its current enrollment target ahead of schedule.

The second trial could provide an additional clinical dataset for a potential regulatory submission and broaden the evidence base across multiple geographies. Verrica expects the remaining common-warts Phase 3 program data, including COVE-3, by mid-2027.

YCANTH’s Current Molluscum Approval Establishes a Commercial Starting Point

YCANTH is already approved in the United States for molluscum contagiosum, a viral skin condition. The common-warts program aims to evaluate whether the same treatment can be used in a much broader dermatology setting.

An approved common-warts indication could materially expand YCANTH’s commercial opportunity, but the company must first produce favorable Phase 3 data, prepare a regulatory submission, obtain FDA approval, and demonstrate physician and patient adoption.

What VRCA Investors Should Watch Before 2027 Phase 3 Data

The COVE-2 enrollment update establishes the first-quarter 2027 data release as the next major clinical catalyst for Verrica. Investors should monitor COVE-3 enrollment completion, COVE-2 efficacy and safety findings, details around the trial endpoints, regulatory discussions, and sales performance for YCANTH’s existing molluscum indication.

The announcement is a favorable program-execution milestone. Verrica’s long-term opportunity in common warts will ultimately depend on positive clinical results, a successful regulatory pathway, and the company’s ability to commercialize YCANTH effectively in a larger dermatology market.