Veradermics Inc (NASDAQ: MANE) is a clinical-stage pharmaceutical company developing an oral extended-release formulation of minoxidil for the treatment of pattern hair loss. Its lead product candidate, VDPHL01, is a proprietary extended-release minoxidil tablet designed to maximize plasma concentrations associated with hair growth while minimizing cardiac side effects observed with immediate-release oral minoxidil. As of the 10-K filed 2026-03-30, Veradermics has not generated revenue from product sales. The company funds operations through equity and debt financings, and plans to target the cash-pay healthcare market if VDPHL01 receives FDA approval. Co-founders Reid Waldman, M.D. (CEO) and Tim Durso, M.D. (President) lead the company alongside CFO Dominic Carrano. Active clinical programs include a confirmatory registration-directed Phase 3 trial in male patients with mild-to-moderate pattern hair loss and a registration-directed Phase 2/3 trial in female patients with mild-to-moderate pattern hair loss, both initiated through 2025.

Revenue model

Veradermics has no product revenue as of the 10-K filed 2026-03-30. The company finances operations through equity sales, debt financings, and potential future collaborations, licensing arrangements, or marketing and distribution agreements. If approved, commercial strategy targets the cash-pay healthcare market for VDPHL01.

Products and services

VDPHL01: an oral, extended-release formulation of minoxidil in clinical development for pattern hair loss (PHL) in both male and female patients. The formulation is proprietary and designed to optimize the pharmacokinetic and pharmacodynamic profile of minoxidil relative to immediate-release oral minoxidil.

Customers and end markets

Target end market is patients with mild-to-moderate pattern hair loss, encompassing both male and female patients. The company's stated commercial strategy targets the cash-pay healthcare market for VDPHL01, per the 10-K filed 2026-03-30.

Value-chain role

Clinical-stage drug developer. Veradermics relies on contract research organizations (CROs) and contract manufacturing organizations (CMOs) for clinical trial execution and manufacturing. The company has limited internal sales, marketing, and distribution infrastructure as of the 10-K filed 2026-03-30.

Geographic exposure

The filing references U.S. federal and state regulatory frameworks as primary compliance context. No specific international commercial operations are described in the excerpts.

Source: SEC 10-K, filed 2026-03-30

Industry: Pharmaceutical Preparations