# Veradermics, Incorporated (MANE)

> Source: Nexqual · https://nexqual.com/MANE · data as of 2026-10-23 15:02 UTC · cite as "Nexqual, Veradermics, Incorporated (MANE), nexqual.com/MANE" · informational, not investment advice.

**Price:** USD 135.86 (-1.90% today) · US market open, as of October 23, 2026 at 15:02 UTC; quotes may be delayed. Prev close 138.49 · day 134.49–139.51 · 52w 32–141.75 · market cap $5.68B · NYQ

## Key facts
- 2 of 80 tracked superinvestors hold MANE (13F, Q2 2026): 1 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $103M; 2 not under a Rule 10b5-1 plan ($91.1M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +259.9% vs S&P 500 +14.8%; 5Y +253.1% vs S&P 500 +77.5%.
- Next earnings: 2026-11-12, EPS estimate USD -0.62, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2024 | FY2025 | TTM |
|---|---|---|---|
| Operating income | -$26.8M | -$72.3M | -$88.4M |
| Net income | -$26.5M | -$70.0M | -$78.8M |
| EPS (diluted) | -$37.05 | -$111.91 | — |
| Free cash flow | -$23.7M | -$71.6M | -$64.7M |
| Cash + short-term investments | $53.1M | $142M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 7.0x · FCF yield -1.14% · Earnings yield -1.39%

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold MANE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.88% | $97.1M | New position |
| Viking Global | Viking Global Investors | 0.55% | $192M | Reduced -7.6% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-19 | Montanova Capital, Llc | Director | 750,000 | $80.4M | 55.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-17 | Durso Timothy August | Chief Technical Officer | 43,500 | $4.7M | 35.8% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-17 | Waldman Reid Alexander | Chief Executive Officer | 67,500 | $7.3M | 28.3% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-12 | Childs John W | Director | 100,000 | $10.7M | 34% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | B. Riley Securities | Target raised | Buy | $170 → $204 |
| 2026-10-19 | Cantor Fitzgerald | Reiterated | Overweight |  |
| 2026-10-19 | Needham | Target raised | Buy | $164 → $172 |
| 2026-07-16 | Citigroup | Target raised | Buy | $135 → $160 |
| 2026-07-15 | Needham | Target raised | Buy | $136 → $164 |
| 2026-07-15 | B. Riley Securities | Initiated | Buy | $170 |
| 2026-07-07 | Jefferies | Target raised | Buy | $138 → $182 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-02-04) | 5Y (from 2026-02-02) |
|---|---|---|
| Total return | +259.9% | +253.1% |
| S&P 500 (SPY) | +14.8% | +77.5% |
| Per year | — | — |
| Volatility (annualized) | 87.1% | 80.2% |
| Max drawdown | -24.8% (Jul 2026→Sep 2026) | -24.5% (Jun 2026→Aug 2026) |

## Peers (Biotechnology)
RYTM (Rhythm Pharmaceuticals, Inc.) USD 89.44 -1.61% · LGND (Ligand Pharmaceuticals Incorpor) USD 307.52 -0.10% · IOVA (Iovance Biotherapeutics, Inc.) USD 13.81 -2.37% · PRAX (Praxis Precision Medicines, Inc) USD 254.29 -1.79% · IONS (Ionis Pharmaceuticals, Inc.) USD 42.85 -2.43% · ABVX (Abivax SA) USD 87.94 -2.54%

## More
Full page: https://nexqual.com/MANE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in MANE's own 10-K filed 2026-03-30 (https://www.sec.gov/Archives/edgar/data/1827635/000182763526000013/mane-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Therapeutics | "The MSA and Collaboration Agreement are described in more detail under "Business—Agreements with Therapeutics, Inc." Pursuant to the Collaboration Agreement, we issued TI a convertible promissory note with a principal am…" |
| Partner | ChemWerth | "In July 2022, we entered into a Development and Manufacturing Agreement, or the Development and Manufacturing Agreement with ChemWerth, Inc., or ChemWerth." |

## Company outlook (8-K filed 2026-08-11)

- "Topline Data Anticipated in 1H27: Veradermics has completed enrollment of Study '306', a Phase 2/3 multi-center, randomized, double-blind, placebo-controlled study evaluating the safety and efficacy of VDPHL01 at two dose regimens (4.5 mg once-daily and twice-daily) over 52 weeks in 556 female participants with mild-to-moderate pattern hair loss."
- "The Company expects to report topline data in the first half of 2027. • Phase 3 Study '304';"
- "Topline Data Anticipated in 2H26: T opline data from Study '304', a confirmatory Phase 3 trial evaluating the safety and efficacy of VDPHL01 in the treatment of male pattern hair loss, are expected in the second half of 2026."
- "Twelve-month data from Study '302' are anticipated in the second half of 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.62 | $-0.64 | -4.0% | $0 | 6 |
| Next quarter (ends 2026-12-31) | $-0.63 | $-0.67 | -5.0% | $0 | 6 |
| Current fiscal year (ends 2026-12-31) | $-2.87 | $-2.84 | +0.9% | $0 | 6 |
| Next fiscal year (ends 2027-12-31) | $-2.64 | $-3.05 | -13.6% | $8.7M | 6 |