Ycanth Phase 3 Trial Dosing Begins for Common Warts in US, Japan

Verrica Pharmaceuticals recently announced it has dosed the first US patient in COVE-3 (NCT07637734), the second pivotal phase 3 trial evaluating Ycanth (VP-102; cantharidin) for the treatment of common warts.¹ The company's Japanese development partner, Torii Pharmaceutical Co, a subsidiary of Shionogi & Co, separately dosed the first Japanese patient in the same trial the prior week.¹ Ycanth is already FDA approved for molluscum contagiosum in patients 2 years and older and is sold by Torii in Japan as TO-208.

Common warts affect an estimated 22 million people in the US, and no therapy currently carries FDA approval for the indication.¹ About half of patients who seek treatment are children.¹ Verrica has positioned Ycanth, its cantharidin-based drug-device combination already marketed for molluscum, as a potential first approved option if the phase 3 program succeeds.

The global phase 3 program for VP-102/TO-208 in common warts includes 2 double-blind, randomized, vehicle-controlled trials in patients 2 years and older.¹ Each protocol calls for as many as 4 applications administered once every 21 days.¹ COVE-2 (NCT07246590) enrolls patients in the US only, while COVE-3 enrolls in both the US and Japan.¹ Verrica intends to seek US marketing approval based on the program, and Torii intends to pursue approval in Japan.¹

According to Verrica, enrollment in COVE-2, the first of the 2 pivotal trials, has surpassed 50% of its current target, and the company is also enrolling patients in COVE-4 (NCT07457918), a long-term follow-up study.¹ The phase 3 program builds on the open-label phase 2 COVE-1 trial, which evaluated VP-102 in 2 cohorts of patients with up to 6 warts.² In Cohort 2, 51% of patients (18/35) achieved complete clearance of all treatable warts by day 84, the primary analysis timepoint, with follow-up continuing through day 147.²

Ycanth Safety Profile and Funding for COVE-3

In the phase 2 COVE-1 trial (NCT03487549), adverse events were primarily expected local cutaneous reactions at the application site, and no serious adverse events were reported.² Verrica has not disclosed phase 3 safety data, and the company states the COVE-2 and COVE-4 studies remain ongoing in parallel with COVE-3.¹

Torii is funding the global phase 3 program jointly with Verrica on a 50/50 basis and will cover the first $40 million in trial costs, representing about 90% of the current budget.¹ Verrica's share is expected to come from future milestone payments and royalties tied to Ycanth sales in Japan.¹ The financial structure reflects the companies' existing molluscum partnership, under which Torii holds Japanese rights to Ycanth while Verrica retains global rights outside Japan, including for common warts.¹

Jayson Rieger, PhD, MBA, president and CEO of Verrica, said the dosing milestones in the US and Japan reflect the companies' shared commitment to common warts.

"Throughout our joint efforts to develop YCANTH for the global markets, Torii has served as an outstanding and supportive development partner, and the advancement of Ycanth into both of the planned pivotal phase 3 studies reflects our companies' steadfast commitment to address a significant unmet need," Rieger said.

Verrica anticipates substantial overlap in prescriber call points between a common warts indication and its existing molluscum business if Ycanth is approved for the new use.¹ The company markets Ycanth for molluscum under a model in which commercially insured patients pay $25 per treatment visit for up to 2 applicators, with roughly 250 million covered lives eligible under current insurance contracts.¹

References

1. Verrica Pharmaceuticals announces first US patient dosed in the second pivotal clinical trial (COVE-3) of its phase 3 program evaluating Ycanth (VP-102) for the treatment of common warts. News release. Verrica Pharmaceuticals. June 22, 2026. Accessed June 22, 2026. https://verrica.com/press_release/verrica-pharmaceuticals-announces-first-u-s-patient-dosed-in-the-second-pivotal-clinical-trial-cove-3-of-its-phase-3-program-evaluating-ycanth-vp-102-for-the-treatment-of-common-warts/
2. Verrica Pharmaceuticals announces first patient dosed in phase 3 program evaluating Ycanth (VP-102) for the treatment of common warts. News release. Verrica Pharmaceuticals. January 7, 2026. Accessed June 22, 2026. https://verrica.com/press_release/verrica-pharmaceuticals-announces-first-patient-dosed-in-phase-3-program-evaluating-ycanth-vp-102-for-the-treatment-of-common-warts/

Frequently Asked Questions

What is Ycanth being studied for in this trial?
Ycanth (VP-102) is being evaluated in the phase 3 COVE-3 trial for the treatment of common warts in patients 2 years and older, an indication with no current FDA-approved therapy.

How does Ycanth work?
Ycanth delivers cantharidin, an active blistering agent, through a single-use applicator for precise topical administration, applied once every 21 days for up to 4 applications.

What did the phase 2 COVE-1 trial show?
In Cohort 2 of the open-label COVE-1 trial, 51% of patients (18/35) achieved complete clearance of all treatable warts by day 84, with adverse events limited primarily to local cutaneous reactions.