Veradermics falls after launching follow-on stock sale

Veradermics, Incorporated

27/04/2026 22:42

** Shares of hair-restoration drug developer Veradermics MANE.N fall 3.6% to $96.50 in extended trading

** MANE kicks off follow-on public offering of 3.35 million shares/pre-funded warrants; MANE had gone public in New York in February after upsized $256.3 million IPO

** Concurrently with the offering, MANE expects to enter securities purchase agreement with certain entities affiliated with Suvretta Capital in a private placement

** Stock closed up 47.6% on Monday at $100.10, roughly six times its IPO price of $17

** MANE earlier on Monday reported positive late‑stage trial results for its experimental oral drug for pattern hair loss

** Jefferies, Leerink Partners, Citigroup and Cantor acting as joint bookrunning managers for follow-on offering

** All four brokerages covering the stock rate it "buy" or higher; median PT is $85 - data compiled by LSEG

** MANE will have 40.7 million outstanding shares after the offering, according to prospectus

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))