Veradermics Incorporated
MANE evidence brief
What we can confirm
- BioSniper Score:
- 5.5 / 10
- Market Cap:
- $4.16B
- Lead Asset:
- vdphl01 (Phase 3)
What it means
What to watch
Prepared research question
What matters most for MANE—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · MANE
Veradermics Incorporated (MANE) is a dermatologist-founded, late-stage biopharmaceutical company focused on developing innovative therapeutics for pattern hair loss, with its lead candidate VDPHL01 in Phase 3 trials for both male and female androgenetic alopecia [news · published 2026-07-15].
Key risk: No approved product revenue
BioSniper Score
Based on 4 of 6 signals
Market Cap
$4.16B
Cash Runway
—
Lead Asset
vdphl01 (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 5 clinical trials for Veradermics Incorporated.
Veradermics Incorporated (MANE) is a dermatologist-founded, late-stage biopharmaceutical company focused on developing innovative therapeutics for pattern hair loss, with its lead candidate VDPHL01 in Phase 3 trials for both male and female androgenetic alopecia [news · published 2026-07-15].
- Cash & equivalents of $319.3M as of 2026-06-30 [sec].
- Net income of -$23.5M for the quarter ended June 30, 2026 [sec].
- Shareholders' equity of $813.6M as of 2026-06-30 [sec].
- Positive topline results from Phase 2/3 Study '302' for VDPHL01 in male pattern hair loss, meeting all primary and key secondary endpoints with statistical significance [news · published 2026-04-27].
- Positive topline results from open-label Phase 2 Study '207' for VDPHL01 in female pattern hair loss, showing consistent hair growth and early onset of activity [news · published 2026-07-15].
What works
- Lead candidate VDPHL01 has shown positive topline results in both male (Phase 2/3 Study '302') and female (Phase 2 Study '207') pattern hair loss trials, meeting endpoints [news · published 2026-04-27] [news · published 2026-07-15].
- The company has a substantial cash runway, with cash & equivalents of $319.3M as of 2026-06-30, and is described as funded into 2030 [sec] [news · published 2026-07-17].
- VDPHL01 targets a large cash-pay market and has the potential to become the first FDA-approved oral treatment for female pattern hair loss [news · published 2026-07-15] [news · published 2026-07-17].
What to weigh
- The company reported a net loss of -$23.5M for the quarter ended June 30, 2026, indicating ongoing operating expenses without product revenue [sec].
- VDPHL01 faces a competitive landscape with at least 61 competitors in androgenetic alopecia, including other Phase 3 candidates such as Cassiopea SpA's Clascoterone [pipeline].
- Key Phase 3 readouts for VDPHL01 are still pending, with topline results for female pattern hair loss (Study '306') expected in 1H 2027, creating uncertainty until then [news · published 2026-07-15].
From the filings
Quoted directly from source documents.
Positive Phase 2/3 results for VDPHL01 in male pattern hair loss
“Veradermics announced positive topline results from its Phase 2/3 “302” clinical trial evaluating VDPHL01, a proprietary extended-release oral minoxidil formulation for male pattern hair loss. The study, which included 519 participants, met all primary and key secondary”
News · April 30, 2026
Positive Phase 2 results for VDPHL01 in female pattern hair loss
“today announced positive topline results from its open-label Phase 2 clinical trial (Study '207') evaluating VDPHL01, a proprietary extended-release oral minoxidil formulation, in females with mild-to-moderate pattern hair loss.”
News · July 15, 2026
Catalyst timeline
- 2023-02-28 · Phase 2 Start for VDMN-21 (Verruca Vulgaris) — Initiation of a Phase 2 study for a separate pipeline candidate targeting verruca vulgaris.
- 2024-07-08 · Phase 2 Start for VDPHL01 (Androgenetic Alopecia) — Open-label multi-dose study to evaluate safety and efficacy of VDPHL01 in male and female subjects.
- 2024-11-06 · Phase 3 Start for VDPHL01 (Male Androgenetic Alopecia) — Randomized, double-blind, placebo-controlled Phase 3 study for VDPHL01 in male subjects.
- 2025-03-11 · Phase 3 Start for VDPHL01 (Male Subjects) — Additional Phase 3 study initiation for VDPHL01 in male subjects with androgenetic alopecia.
Risks & what to watch (3)›
Key risks
- No approved product revenue — Company reported net loss of -$23.5M as of 2026-06-30, with no marketed product generating revenue [sec].
- Competitive hair loss market — VDPHL01 faces 61 competitors in androgenetic alopecia, including other Phase 3 candidates [pipeline].
- Pending pivotal readouts — Phase 3 topline results for female pattern hair loss (Study '306') not expected until 1H 2027 [news · published 2026-07-15].
What to watch
- Topline results from Phase 2/3 Study '306' for VDPHL01 in female pattern hair loss, expected in 1H 2027 [news · published 2026-07-15].
- Phase 3 readouts for VDPHL01 in male pattern hair loss, anticipated in 2H26/1H27 [news · published 2026-10-09].
- FDA approval decisions and regulatory milestones for VDPHL01 [news · published 2026-09-18].
- Cash runway and spending rate, given current cash of $319.3M as of 2026-06-30 and ongoing net losses [sec].
Sources: Catalysts · News · Pipeline · Generated October 14, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.01 · 0% dilution
Lead: Phase 3
1 candidate
No upcoming catalysts tracked
0 buys · 15 sells (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
81
Total value held
$1.64B
| Holder | Shares | Value |
|---|---|---|
| suvretta capital management, llc | 4,168,970 | $263.3M |
| sr one capital management, lp | 2,401,868 | $151.7M |
| citadel advisors llc | 1,825,672 | $115.3M |
| fmr llc | 1,792,909 | $113.2M |
| viking global investors lp | 1,690,555 | $106.8M |
| siren, l.l.c. | 1,505,374 | $95.1M |
| adage capital partners gp, l.l.c. | 1,100,000 | $69.5M |
| aberdeen group plc | 1,054,660 | $66.6M |
| jpmorgan chase & co | 976,166 | $59.4M |
| infinitum asset management, llc | 731,149 | $46.2M |
Showing top 10 of 81 institutional holders of Veradermics Incorporated. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 7.9%
- Days to cover
- 3.4
- Shares short
- 1,790,324
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
MANE short interestFrequently asked questions
What is the AI investment thesis for Veradermics Incorporated?
Veradermics Incorporated (MANE) is a dermatologist-founded, late-stage biopharmaceutical company focused on developing innovative therapeutics for pattern hair loss, with its lead candidate VDPHL01 in Phase 3 trials for both male and female androgenetic alopecia [news · published 2026-07-15].
What is Veradermics Incorporated's lead drug candidate?
Veradermics Incorporated's most advanced tracked candidate is vdphl01 (Phase 3) for Androgenetic Alopecia.
Who is the CEO of Veradermics Incorporated?
Dr. Reid Waldman M.D. is the chief executive officer of Veradermics Incorporated (MANE).
Where is Veradermics Incorporated headquartered?
Veradermics Incorporated (MANE) is headquartered in New Haven, CT, United States.
What therapeutic areas does Veradermics Incorporated focus on?
Veradermics Incorporated develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.