Veradermics reports Q1 net income ($27.2M) vs ($12.4M) last year

Cash, cash equivalents, and marketable securities totaled $390.8 million as of March 31, 2026, reflecting net proceeds from the company’s upsized initial public offering completed in February 2026. Subsequent to March 31, 2026, we completed our follow-on offering, in which the company raised gross proceeds of approximately $472.0 million, before deducting underwriting discounts and commissions and other offering expenses. “The announcement of positive Phase 2/3 topline results from Study ‘302’ in April 2026 was an inflection point for Veradermics (MANE) and supports our belief that VDPHL01 can become a foundational treatment for pattern hair loss,” said Reid Waldman, M.D., Chief Executive Officer of Veradermics. “We are working with urgency to deliver multiple data milestones in the second half of 2026. Following our successful IPO and subsequent financing activities, we are well capitalized to execute on these milestones and advance our mission to provide the first-ever FDA-approved non-hormonal oral treatment for pattern hair loss to both men and women.”