The IPO Buzz: Veradermics (MANE) Upsizes IPO & Prices it at $17 – $1 Above Range

Veradermics (MANE) upsized its IPO at pricing to 15.08 million shares – up from 13.35 million shares in the prospectus – and priced the IPO at $17.00 – $1.00 above the top of its range – to raise $256.36 million on Tuesday night, Feb, 3, 2026. Veradermics’ stock is set to start trading tomorrow – Wednesday, Feb. 4, 2026 – on the New York Stock Exchange. The IPO had been marketed at a price range of $14.00 to $16.00.

At pricing, Veradermics had a market cap of $596.32 million.

Jefferies,  Leerink Partners,  Citigroup and Cantor acted as the joint book-runners.

Veradermics is a Phase 2/Phase 3 biotech that’s developing a pill – an extended-release (ER) formulation of minoxidil, a blood pressure drug – to treat pattern hair loss (PHL) – namely, baldness – in men and women.

Eli Lilly & Company disclosed an interest in buying up to 4.9 percent of the stock in the IPO in an SEC filing dated Monday, Feb. 2. Its stock will not be subject to a lock-up agreement, the prospectus said.

Wellington Management, the cornerstone investor, had indicated an interest in buying up to $30 million of stock – or 15 percent of the stock in the IPO. This stock will not be subject to a lock-up agreement with the underwriters.

Veradermics, based in Yale’s hometown of  New Haven, Connecticut, is evaluating its

leading drug candidate, VDPHL01, in a Phase 2/3 trial involving 519 male patients with

mild to moderate PHL, the prospectus said. It’s also started a Phase 3 trial targeting

the enrollment of 498 male patients with mild to moderate PHL and a Phase 2/3 trial

targeting the enrollment of 552 female patients with mild to moderate PHL.

The IPO’s proceeds will go toward funding the clinical trials, the prospectus said.

Veradermics is not profitable, according to the prospectus: Net loss of $53.81 million on no product revenue for the 12 months that ended  Sept. 30, 2025

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Source: https://www.iposcoop.com/the-ipo-buzz-veradermics-mane-upsizes-ipo-prices-it-at-17-1-above-range/