Phase 2 Success and Rapid Efficacy Demonstrated for VDPHL01

Veradermics, Inc. has achieved positive topline results in the Phase 2 (Study 207) trial of VDPHL01, its oral, extended-release minoxidil formulation, for female pattern hair loss. The trial demonstrated that both the once-daily and twice-daily dosing groups showed a statistically significant increase in target area hair count (TAHC) of an average of 22.7 and 23.3 hairs per square centimeter, respectively, at the 6-month mark. Notably, significant hair growth was observed in over 67% of patients as early as the 2-month mark, demonstrating a rapid onset of action compared to existing treatments. This is a significant finding that can provide strong motivation for women experiencing hair loss who are seeking early treatment benefits.

Enhanced Safety and Convenience Through Extended-Release Formulation Technology

Traditional oral minoxidil has been associated with concerns about hypertrichosis and cardiovascular side effects due to rapid fluctuations in blood concentration. VDPHL01 overcomes these limitations through its extended-release technology. The Phase 2 trial showed an excellent safety profile, with no serious adverse events or adverse events of special interest (AESI) reported. Existing standard treatments, such as Rogaine, which are topical formulations, have low compliance rates among female patients due to the inconvenience of daily application and the sticky texture. The convenience and safety of VDPHL01, as an oral medication taken once a day, are considered to be innovative and are expected to change the paradigm of the female hair loss market.

Stock Surge and Revaluation of Corporate Value After Listing on the New York Stock Exchange

Veradermics, Inc. (ticker: MANE) successfully listed on the New York Stock Exchange (NYSE) in February of this year, issuing approximately 15 million shares at an IPO price of $17. On the day the positive Phase 2 data was announced, the stock price soared, reaching nearly $130 during intraday trading, more than seven times the IPO price. The next day, the stock price remained at around $116, demonstrating strong market confidence. This reflects investor expectations that the company is likely to secure exclusive commercial rights in the female hair loss market, which has a high unmet medical need.

Commercial Potential of a First-in-Class Drug Targeting 30 Million Women

Approximately 30 million women in the United States suffer from female pattern hair loss, but there are currently no FDA-approved oral treatments. The global hair loss treatment market is expected to reach $8.6 billion to $9.4 billion in 2025 and grow to over $17 billion by 2035. Veradermics plans to announce topline results from the Phase 3 trial for male hair loss in the second half of this year and plans to release data from the Phase 2/3 trial (Study 306) for women in the first half of 2027. If VDPHL01 is ultimately approved, it will secure the status of the world's first oral treatment for female hair loss, allowing it to gain a dominant market share over competitors such as Pelage Pharmaceuticals, which have topical pipeline products.