Monitor upcoming Phase 3 data readouts from Study 304 and Study 306 in H2 2026, which are the next major catalysts. The strong cash runway into 2030 reduces near-term dilution risk, but the pre-revenue stage means stock movement will be driven entirely by clinical milestones.
Price Chart
Executive Summary
Veradermics reported Q1 2026 results showing a net loss of $27.2M, widening from a $12.4M loss in Q1 2025, driven by increased R&D and G&A expenses as the company advances its lead candidate VDPHL01. The company highlighted positive Phase 2/3 topline data from Study 302 and a strong cash position of $390.8M, with additional $472M raised post-quarter via a follow-on offering, extending runway into 2030.
Key Facts
- Net loss of $27.2M for Q1 2026 vs $12.4M in Q1 2025
- Cash, cash equivalents, and marketable securities of $390.8M as of March 31, 2026
- Raised approximately $766.8M in aggregate gross proceeds in 2026 through IPO and follow-on offering
- Positive topline results from Phase 2/3 Study 302 for VDPHL01 in April 2026
- Enrollment completed in confirmatory Phase 3 Study 304; topline data expected H2 2026
- R&D expenses increased to $20.9M from $11.4M YoY
- G&A expenses increased to $8.9M from $1.5M YoY
Financial Impact
Net loss increased by $14.8M YoY; cash position strengthened by ~$249M from year-end 2025
Risk Factors
- No approved products or revenue; pre-revenue stage biotech risk
- Clinical trial failure risk for VDPHL01 in ongoing Phase 3 studies
- Dilution risk from future capital raises if cash runway needs extension
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001827635-26-000016 |
| Document: mane-20260512.htm | 0001827635-26-000016 |
| Document: 0001827635-26-000016-index-headers.html | 0001827635-26-000016 |
| Document: 0001827635-26-000016-index.html | 0001827635-26-000016 |
| Document: 0001827635-26-000016.txt | 0001827635-26-000016 |
| 8-K Data (Synthetic) | 0001827635-26-000016 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $122.28 | awaiting T+5 | — | $137.39 (+12.36%) |
Oct 13, 2026 13d ago | SC 13G | $116.26 $127.11 | ▲ +9.33% | ▲ +10.48% | $137.39 (+18.17%) |
Aug 21, 2026 9w ago | Insider Cluster | $98.46 $98.41 | ▲ +0.05% | ▲ +0.52% | $137.39 (−39.54%) |
Aug 20, 2026 9w ago | 3 | $102.82 $97.93 | ▼ −4.76% | ▼ −5.23% | $137.39 (+33.62%) |
Aug 18, 2026 9w ago | Insider Cluster | $111.23 $102.80 | ▼ −7.58% | ▼ −7.19% | $137.39 (+23.52%) |
Aug 11, 2026 10w ago | 8-K | $110.75 $111.31 | ▲ +0.51% | ▲ +0.91% | $137.39 (+24.05%) |
Aug 7, 2026 11w ago | S-1 | $110.75 $108.22 | ▲ +2.28% | ▲ +2.24% | $137.39 (−24.05%) |
Aug 7, 2026 11w ago | Institutional Cluster | $114.39 $112.71 | ▼ −1.47% | ▼ −1.87% | $137.39 (+20.11%) |
Jul 15, 2026 14w ago | 8-K | $123.70 $109.85 | ▼ −11.20% | ▼ −10.22% | $137.39 (+11.07%) |
May 12, 2026 23w ago | 8-K | $103.90 $100.38 | ▼ −3.39% | ▼ −3.47% | $137.39 (+32.23%) |
US Market Status
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