Reorganization Form 8 K

On October 1, 2024, Verrica Pharmaceuticals Inc. (the "Company") announced a reduction of its workforce by 47 employees, which the Company expects to be substantially completed by October 1, 2024. The Board of Directors of the Company approved these actions on September 23, 2024 in order to streamline operations, reduce costs, and preserve capital.

As a result, the Company expects to incur total expenses of approximately $1.0 million, including a one-timecharge totaling approximately $0.7 million in connection with one-timeemployee termination costs, including severance and other benefits, and an estimated deemed loss on vehicle sales of $0.3 million. The Company expects such costs to be the only direct expense of the restructuring plan. This charge is expected to be incurred during the quarter ending December 31, 2024, with related cash payments expected to be substantially paid out by November 30, 2024.

The estimates of costs that the Company expects to incur and the timing thereof are subject to a number of assumptions and actual results may differ.