Aug. 12 at 8:46 PM
$VRCA
$8.0 million license and collaboration milestone recognized in Q2 2025
Quarterly total revenue increased to
$12.7 million, including
$8.2 million in collaboration revenue
Torii amendment provides cost-sharing for the Phase 3 common warts program and accelerated cash payment, improving near-term funding visibility
Company completed a 1-for-10 reverse stock split (effective July 24, 2025) and previously raised net proceeds of approximately
$39.6 million in November 2024 offering
Management disclosed substantial doubt about the company’s ability to continue as a going concern within one year absent additional financing
Cash and cash equivalents declined to
$15.4 million at June 30, 2025 from
$46.3 million at December 31, 2024
Significant debt obligations with total debt, net of discounts, of approximately
$37.3 million and a
$1.8 million derivative liability
Concentration risk: commercial revenue dependent on a single product