Veradermics
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Veradermics (MANE) investor relations material

Veradermics has been private

Veradermics Registration Filing summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Registration Filing summary28 Jan, 2026

Company overview and business model

  • Dermatologist-founded, late clinical-stage biopharmaceutical company focused on innovative therapeutics for prevalent aesthetic and dermatological conditions, with initial focus on pattern hair loss (PHL) affecting ~80 million in the US.

  • Lead product VDPHL01 is an oral, extended-release (ER) minoxidil formulation targeting both men and women with PHL, aiming to improve efficacy, safety, and convenience over current options.

  • VDPHL01 is designed to maximize hair growth while minimizing cardiac side effects, with a proprietary ER formulation and robust IP protection through at least 2043.

  • Pipeline includes additional assets for common warts, alopecia areata, and molluscum contagiosum, though these are not currently in active development.

Financial performance and metrics

  • No products approved or revenue from product sales to date; operations funded primarily through equity financings totaling $263 million since inception.

  • Net losses: $48.1M (nine months ended Sep 30, 2025), $26.5M (2024), $16.5M (2023); accumulated deficit of $97.4M as of Sep 30, 2025.

  • R&D expenses increased to $43.9M for nine months ended Sep 30, 2025, driven by expanded clinical trial activity for VDPHL01.

  • Cash, cash equivalents, and marketable securities: $15.1M as of Sep 30, 2025, not including $151M Series C financing completed in Q4 2025.

  • Pro forma as adjusted for IPO: $347.5M in cash and equivalents, $345.5M in stockholders' equity, assuming $15/share IPO price.

Use of proceeds and capital allocation

  • Estimated net proceeds of $181.8M (at $15/share midpoint), to be used for advancing VDPHL01 through NDA approval and initial US commercialization, including physician education, marketing, infrastructure, and manufacturing.

  • Remaining proceeds allocated to business development and general corporate purposes.

  • Proceeds, together with existing cash, expected to fund operations into the second half of 2028, but not through full regulatory approval and commercialization; additional capital will be required.

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