Veradermics shares continue rally following positive hair loss treatment study

Veradermics, Incorporated

28/04/2026 15:31

** Veradermics' MANE.N shares up 4.7% at $104.84 early Tues and extending rally as biopharma firm looks to raise equity just months since going public on heels of positive trial results for its male pattern hair loss drug

** MANE shares have now surged more than sixfold from Feb IPO price of $17

** Stock finished up nearly 48% on Mon after co said its pill, VDPHL01, in a six-month study in more than 500 men showed patients on the drug gained over 30 hairs per square cm versus seven on placebo

** The extended-release version of minoxidil showed no serious heart-related safety issues, co said, adding it plans further studies, including in women

** Subsequently, New Haven, Connecticut-based firm late Mon started public offering of 3.35 mln shares and pre-funded warrants

** Concurrently with the offering, MANE expects to sell pre-funded warrants to entities affiliated with Suvretta Capital in a private placement

** Jefferies, Leerink, Citigroup and Cantor joint bookrunners

** Prior to offering, hedge fund Suvretta owned ~4.2 mln shares of MANE's ~37.3 mln shares outstanding, per the prospectus

** MANE intends use net offering proceeds for broad range of purposes, including commercial launch activities, developing commercialization infrastructure, expanding manufacturing capabilities and R&D

** 3 analysts rate the stock "strong buy", 1 rates "buy"; median PT $111, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))