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.
The company disclosed that Eli Lilly & Company was interested in buying 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, according to the amended prospectus, which was made public today by the SEC.
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: It reported a net loss of $53.81 million on no product revenue for the 12 months that ended Sept. 30, 2025.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.