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MANE — Veradermics Incorporated

MANE (Veradermics Incorporated) stock: $152.03, $6.37B market cap, $819.9M cash, $5.55B EV, $7.28B fully diluted market cap. Lead program: VDPHL01 (Androgenetic Alopecia), Phase 3. Data from Fully Diluted's biotech stocks database.

What they do

We are a dermatologist-founded, late clinical-stage biopharmaceutical company, or the “Company,” “we,” “us,” or “our”, focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions.

Source: 10-K FY2025 via SEC EDGAR

Share price
$152.03
Market cap
$6,366.5M
Cash
$819.9M
Enterprise value
$5,546.6M

Balance sheet

Cash$819.9M
Debt$0.0M
Net cash$819.9M
Enterprise value$5,546.6M
Basic shares41.8M shares
Fully diluted shares47.9M shares
Fully diluted market cap$7,281.0M
Cash per share$19.62
Quarterly burn$14.5M
Cash runway56.6 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-11.

Share structure

Common
41.8M
Pre-funded warrants
0.3M
Options
5.5M
RSUs
0.0M
Warrants
0.0M
Converts
0.0M
Conv preferred
0.0M
ESPP reserve
0.3M
FDSO
47.9M

Cap table as of 2026-06-30.

Price history

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Next catalyst

VDPHL01 QD · Jul 13 - Aug 24 in 8 mo · Phase 3 · Androgenetic Alopecia (AGA); Androgenetic Alopecia; AGA

Recently reported

VDPHL01 Phase 2/3 Positive · 2026-11-09
androgenetic alopecia, aga, male pattern baldness
Primary: Change from baseline in non-vellus target area hair count at Month 12 (Study 302 Part B) — Increase of 43.9 hairs/cm2 in the twice-daily arm and 29.7 hairs/cm2 in the once-daily arm from baseline to Month 12 in the VDPHL01 continued group
· 89.1% (BID) and 79.8% (QD) reported visible improvement in hair coverage at Month 12
· 68.0% (BID) and 48.4% (QD) reported 'much improved' or 'improved' hair coverage
· Investigator Global Assessment improvement: 92.2% (BID) and 74.4% (QD)
· Placebo-crossed group at Month 12: +32.1 hairs/cm2 (BID) and +24.5 hairs/cm2 (QD)
· Study 302 enrolled 519 patients
Safety: No new safety signals, no treatment-related serious adverse events, and no adverse-event discontinuations between Month 6 and Month 12 in the VDPHL01 continued group
Source release →
VDPHL01 Phase 3 Positive · 2026-10-19
androgenetic alopecia, aga, male pattern baldness
Primary: Co-primary endpoints at Month 6: mean change in non-vellus target area hair count (TAHC) and patient-reported improved/much improved hair coverage on the AAIRS (VDPHL01 8.5 mg QD/BID vs placebo, n=536, male pattern hair loss) — Mean increase in non-vellus TAHC at Month 6: 28.6 hairs/cm² (QD, p<0.0001) and 36.4 hairs/cm² (BID, p<0.0001) vs 6.6 hairs/cm² on placebo; AAIRS improved/much improved 55.7% (QD) and 68.7% (BID) vs 15.0% placebo (both p<0.0001)
· Any AAIRS improvement at Month 6: 78.8% (QD) and 85.0% (BID) vs 35.3% placebo (both p<0.0001)
· Investigator Global Assessment improved at Month 6: 78.4% (QD) and 82.7% (BID) (both p<0.0001)
· Statistically significant separation from placebo in TAHC, PRO and IGA at Month 2, the earliest time point evaluated
· All primary and secondary endpoints met with high statistical significance
Safety: Generally well tolerated; no treatment-related serious adverse events and no adverse events of special interest of cardiac origin; peripheral edema 2.8% (QD) / 4.5% (BID) / 0.6% (placebo), hypertrichosis 2.2% / 9.0% / 0%
Source release →
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