Veradermics, Inc (MANE) Q2 2026 Earnings Call

Concluded Jul 15, 2026

Jul 15, 2026 0 turns

Period: FY2026 Q2
Runtime: —
Sources: 4 artifacts

Slides 7 8-K 8-K 10-Q

Executive readout · one minute

What matters this quarter

Veradermics reported positive Phase 2 Study 207 results for VDPHL01 in female pattern hair loss, showing robust hair count gains and high patient-reported improvement with no cardiac safety signals, and completed enrollment in the registration-directed Phase 2/3 Study 306 with topline readout now guided to 1H27; quarterly net loss widened to $23.5M with higher opex while cash position strengthened to $819.9M, funding operations into 2030.

Study 207 female Phase II results 48 Pivotal trial outlook (Study 306) 26 VDPHL01 product profile (extended-release oral minoxidil) 22 Tolerability and safety 13 Onset of effect / kinetics 8 Eyebrow hypotrachosis (exploratory) 7

Management tone

Confident

Net tone +85 · low hedging

Grounding quotes

“we believe the data is fantastic and demonstrates robust proof of concept for VDPHL01 in female pattern hair loss”
“Today is an exciting moment for the treatment of female pattern hair loss, as this represents the first positive Phase II outcome for an oral treatment for pattern hair loss in females in the United States”
“we saw robust efficacy signals on both hair count and patient reported outcome with consistency across all endpoints”
“this represents the first positive Phase II study for an oral treatment for female pattern hair loss in the U.S., and it gives us great conviction as we move towards study 306 data, the first ever registration-directed trial for an oral treatment for female pattern hair loss in the first half of 2027”

Research coverage

4 live sources

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Diluted EPS -$0.58

Net income -$23.50M

Research materials

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Presentation 7 pages 8-K earnings release Filed Aug 11, 2026 8-K call announcement Filed Jul 15, 2026 10-Q report Filed Aug 11, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

Positive Phase 2 Study 207 results showed robust hair count gains in female pattern hair loss with VDPHL01.
High patient-reported improvement in hair coverage supports strong efficacy profile.
No cardiac safety signals or treatment-related SAEs observed in female Phase 2 study.
Completed enrollment in 556-participant registration-directed Phase 2/3 Study 306 in females.
Cash position of $819.9M is expected to fund operations into 2030 through Phase 3 readouts and potential commercial launch.

↓ Risks & pressure points

Net loss widened to $23.5M in Q2 2026 from $15.6M in Q2 2025 on higher operating expenses.
R&D and G&A expenses increased significantly year-over-year as headcount and commercial readiness ramped.

Key moments

Read the management remarks selected from the transcript.

“Overall safety and tolerability are similar to what we've seen in prior trials with BDPHL01 with no new safety signals identified. Specifically, we saw no SAEs, no adverse events of special interest of cardiac origin, so no pericardial effusion, pleural effusion, heart failure, angina, and no clinically significant changes to heart rate, blood pressure, and ECGs.” Reid Waldman, CEO

“The data here, in particular hair count data, is well positioned to translate into the upcoming registration-directed trial.” Reid Waldman, CEO

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