Market response
Shares of Veradermics, Incorporated (NYSE:MANE) rose 9% on Wednesday following the release of Phase 2 clinical data for VDPHL01, the company's oral treatment candidate for female pattern hair loss. The market reaction came after the company published topline results from Study 207, an open-label Phase 2 trial.
Study findings
Study 207 assessed an extended-release oral minoxidil formulation in women with mild-to-moderate pattern hair loss. According to the company, participant-reported outcomes at Month 6 indicated that 88.9% of those on once-daily dosing and 90.0% of those on twice-daily dosing described their condition as improved or much improved.
Objectively measured efficacy was reported as a mean increase in non-vellus target area hair count of 22.7 hairs per cm squared for the once-daily group and 23.3 hairs per cm squared for the twice-daily group at the six-month evaluation. Veradermics also noted that a majority of participants observed improved hair coverage as early as Month 2, which was the earliest assessment point in the trial.
Safety profile and tolerability
The company reported that VDPHL01 exhibited a favorable safety profile through six months of exposure. There were no treatment-related serious adverse events recorded in the study population, and no adverse events of special interest of cardiac origin were observed through Month 6, according to the trial summary provided by the company.
Development timeline and next steps
Veradermics said it expects topline results from Study 306, a Phase 2/3 clinical trial of VDPHL01 in female pattern hair loss, in the first half of 2027. The company stated that VDPHL01 has the potential to become the first FDA-approved oral treatment for female pattern hair loss.
Separately, the company is continuing development in male pattern hair loss. Topline results from Phase 3 Study 304 are anticipated in the second half of 2026. The company also noted that topline results from Study 302, a registration-directed Phase 2/3 trial in male pattern hair loss, were announced in April.
Takeaway
The Study 207 results provide both participant-reported and measured evidence of efficacy for VDPHL01 in female pattern hair loss through six months, accompanied by a safety profile described by the company as favorable. Veradermics has outlined a multi-study development path with upcoming readouts expected in 2026 and 2027.