Hair loss biotech Veradermics files for a $100 million IPO
February 4, 2026 News
Hair loss biotech Veradermics prices upsized IPO at $17, above the range
Veradermics, a Phase 3-ready biotech developing therapies for hair loss, raised $256 million by offering 15.1 million shares at $17, above the range of $14 to $16. The company had originally planned to offer 13.4 million shares. At pricing, Veradermics commands a fully diluted market value of $606 million, 20% higher than previously anticipated.
Cornerstone investor Wellington Management had indicated on $30 million of the IPO, and Eli Lilly indicated on 4.9% of shares sold; anchor investors took down 16.6% of the deal in total.
January 28, 2026 News
Hair loss biotech Veradermics sets terms for $200 million IPO
Veradermics, a Phase 3-ready biotech developing therapies for hair loss, announced terms for its IPO on Wednesday.
The New Haven, CT-based company plans to raise $200 million by offering 13.4 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Veradermics would command a market cap of $509 million.
IPO Overview
Veradermics, a Phase 3-ready biotech developing therapies for hair loss, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Veradermics Therapeutics is a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing an oral, non-hormonal extended-release formulation of minoxidil （VDPHL01） to address male and female pattern hair loss affecting approximately 50 million men and 30 million women in the United States. The company has fully enrolled a 519-patient Phase 2-3 trial in male patients and has initiated two additional registration-directed, randomized, double-blind, placebo-controlled Phase 3 trials targeting 498 male patients and 552 female patients to support a 505（b）（2） NDA.
The New Haven, CT-based company was founded in 2019 and plans to list on the NYSE under the symbol MANE. Veradermics filed confidentially on October 27, 2025. Jefferies, Leerink Partners, Citi, and Cantor Fitzgerald are the joint bookrunners on the deal. No pricing terms were disclosed.
About the Company
We are a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation. We are developing VDPHL01 as an oral, non-hormonal treatment for men and women with PHL to reduce the barriers to wide adoption of chronic hair loss therapy and potentially transform PHL treatment. We believe that a marketing application could initially seek approval in male patients, followed by an sNDA for female patients, or could alternatively pursue approval in both male and female patients simultaneously depending on the timing of the completion of our clinical trials. VDPHL01 is an oral, ER formulation of minoxidil, a proven hair growth agent, designed to maximize minoxidil’s impact on hair restoration while minimizing the risk of cardiac activity. Though IR oral minoxidil was originally designed to treat resistant hypertension, it has been used off label as a treatment for PHL after hair growth was observed as a side effect.