"Baldness Economy" New Player: Hair Regrowth Drug Company Veradermics (MANE.US) Plans to IPO to Raise $214 Million, Market Value Aims to Reach $534 Million.

The biopharmaceutical company Veradermics Inc. dedicated to hair restoration is seeking to raise up to 2.136 billion US dollars through an IPO to advance the commercialization of its oral hair growth medication. According to documents filed by the company with the US Securities and Exchange Commission (SEC) on Wednesday, the company plans to issue 13.4 million shares of stock at a price of 14 to 16 US dollars per share. Based on the post-issuance total capital listed in the documents, if the pricing range upper limit is executed, Veradermic's market value will reach approximately 534 million US dollars. The documents show that Wellington Management Company has expressed interest in purchasing shares worth up to 30 million US dollars at the IPO price. The IPO on the American Stock Exchange is expected to continue the annual growth trend of recent years, with transactions of over 30 billion US dollars like SpaceX's plan potentially breaking the record set in 2021. Data shows that last year's initial public offerings in the US (excluding blank check companies and other tools) raised a total of 47.6 billion US dollars, an increase of nearly three-quarters from 2024. According to the filing documents, Veradermics reported a net loss of 48.1 million US dollars in the nine months ending on September 30, compared to a net loss of 20.8 million US dollars in the same period last year. The documents show that the late-stage biopharmaceutical company, founded in 2019, is developing its lead therapy for the treatment of mild to moderate pattern hair loss. Veradermics' non-hormonal hair loss experimental treatment is in the late-stage clinical trial phase. Prior to this IPO, Veradermics raised 150 million US dollars through a Series C financing in October. According to a statement at the time, the financing round was led by SR One, with new investors Viking Global Investors, Marshall Wace, Invus, as well as existing supporters Longitude Capital and Suvretta Capital Management participating. The public offering is led by Jefferies Financial Group, Leerink Partners, Citigroup, and Cantor Fitzgerald. The company plans to list on the New York Stock Exchange, with the trading code "MANE".