Veradermics (NYSE: Mane), a New Haven, Connecticut-based late clinical-stage biopharmaceutical company focused on pattern hair loss therapeutics, announced the pricing of an upsized public offering of 3,843,790 shares of common stock at USD 100.00 per share on the NYSE.
All shares in the offering are being sold by Veradermics, with gross proceeds expected to reach approximately USD 384.4 million gross. The underwriters received a 30-day option to purchase up to an additional 576,568 shares at the public offering price. The offering was expected to close on May 1, 2026, subject to customary closing conditions. Concurrently, the company entered into a securities purchase agreement with entities affiliated with Suvretta Capital for 300,000 pre-funded warrants at USD 99.99999 per warrant, generating gross proceeds of approximately USD 30.0 million before expenses. The closing of the public offering was stated to be independent of the private placement.
Veradermics is developing VDPHL01, an oral, extended-release proprietary formulation of minoxidil, as a non-hormonal treatment for pattern hair loss in men and women. In its Phase II/III Study 302, the company stated that VDPHL01 met all primary and key secondary endpoints with statistical significance in 519 male patients with mild-to-moderate pattern hair loss over 52 weeks. The filing states that the once-daily 8.5 mg arm produced a change of +30.3 non-vellus hairs per cm² versus +7.3 per cm² for placebo, and the twice-daily arm produced +33.0 non-vellus hairs per cm² versus the same placebo result. The company stated no treatment-related serious adverse events and no cardiac adverse events of special interest were reported.