Veradermics: 89.1% report better hair coverage on twice-daily drug
Veradermics anticipates data from its female pattern hair loss Study ‘306’ in the first half of 2027.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Veradermics, Inc. reported 12-month Part B results from Study ‘302’, a randomized, double-blind, placebo-controlled Phase 2/3 trial of investigational VDPHL01 in men with mild-to-moderate pattern hair loss. The trial enrolled 519 patients, who received 8.5 mg once daily (QD), twice daily (BID), or placebo for six months; placebo participants then crossed to VDPHL01 for the remaining six months.
In the continued-treatment groups, non-vellus hair count increased from baseline by 29.7 hairs/cm² (QD) and 43.9 hairs/cm² (BID) at Month 12. Visible hair-coverage improvement was reported by 79.8% (QD) and 89.1% (BID); 48.4% (QD) and 68.0% (BID) achieved “improved” or “much improved” on the Androgenetic Alopecia Impact Rating Scale (AAIRS). Part B efficacy analyses used observed data available in each group. Veradermics reported no treatment-related serious adverse events, cardiac adverse events of special interest, or new safety signals; no treatment-emergent adverse events led to discontinuation in the continued group from Month 6 to Month 12. VDPHL01 remains investigational, and the company anticipates female pattern hair loss Study ‘306’ data in the first half of 2027.
3 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointMonth-12 non-vellus hair-count increases: 43.9 hairs/cm² (BID) and 29.7 hairs/cm² (QD).
- Moderate pointVisible hair-coverage improvement: 89.1% (BID) and 79.8% (QD) at Month 12.
- Minor pointStudy 302 reported no treatment-related SAEs or cardiac AESIs through Month 12.
Negative
- None.
Filing Explained
The filing adds an important limit on how to read the 12-month results: Part B was a dose-controlled extension, while the presentation identifies Part A as the pivotal primary-endpoint evaluation; Part B efficacy analyses used observed data available in each group.
8-K Event Classification
3 items: 7.01, 8.01, 9.01
3 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Study 302 enrollment: 519 patients
Month 12 non-vellus hair-count increase (BID): 43.9 hairs/cm²
Month 12 non-vellus hair-count increase (QD): 29.7 hairs/cm²
+4 more
7 metrics
Study 302 enrollment
519 patients
Randomized clinical trial
Month 12 non-vellus hair-count increase (BID)
43.9 hairs/cm²
Continued-treatment group; change from baseline
Month 12 non-vellus hair-count increase (QD)
29.7 hairs/cm²
Continued-treatment group; change from baseline
Visible hair-coverage improvement (BID)
89.1%
Continued-treatment group at Month 12; participant-reported
Visible hair-coverage improvement (QD)
79.8%
Continued-treatment group at Month 12; participant-reported
Improved or much improved hair coverage (BID)
68.0%
Continued-treatment group at Month 12
Improved or much improved hair coverage (QD)
48.4%
Continued-treatment group at Month 12
Key Terms
non-vellus hair count, Androgenetic Alopecia Impact Rating Scale (AAIRS), Investigator Global Assessment (IGA), placebo-controlled, +1 more
5 terms
non-vellus hair count medical
"increase in non-vellus hair count"
Androgenetic Alopecia Impact Rating Scale (AAIRS) medical
"on the Androgenetic Alopecia Impact Rating Scale (AAIRS)"
Aairs is a standardized rating scale that measures how androgenetic alopecia (pattern hair loss) affects a person’s daily life, self-image, and emotional well‑being. Like a customer satisfaction score for hair health, it helps clinicians and drug developers quantify patient experience, set trial goals, and show investors whether a treatment meaningfully improves quality of life—information that can shape regulatory decisions and market potential.
Investigator Global Assessment (IGA) medical
"using the Investigator Global Assessment (IGA) scale"
placebo-controlled medical
"randomized, double-blind, placebo-controlled"
"Placebo-controlled" describes a testing method where one group receives the actual treatment or intervention, while another group receives a harmless, inactive version called a placebo. This approach helps determine whether the real treatment has genuine effects beyond psychological expectations. For investors, understanding this ensures confidence that reported benefits are real and not influenced by bias or false perceptions.
extended-release technical
"proprietary, extended-release oral minoxidil formulation"
Extended-release is a drug formulation designed to release its active ingredient slowly over an extended period so the medicine stays at steadier levels in the body and usually needs to be taken less often—think of a timed-release coffee versus sipping many short espressos. Investors care because extended-release versions can improve patient adherence, reduce side effects, and create product differentiation that supports higher pricing, longer commercial lifecycles, and clearer revenue visibility, while also attracting specific regulatory and manufacturing considerations.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were MANE's Study 302 Month 12 hair-count results?
In the continued-treatment group, non-vellus hair count increased from baseline by 43.9 hairs/cm² with 8.5 mg twice daily and 29.7 hairs/cm² with 8.5 mg once daily at Month 12. The placebo-crossover group's increases were 32.1 hairs/cm² and 24.5 hairs/cm², respectively.
How many MANE Study 302 participants reported improved hair coverage?
At Month 12, 89.1% in the BID group and 79.8% in the QD group reported visible improvement. 68.0% (BID) and 48.4% (QD) achieved “improved” or “much improved” hair coverage on the AAIRS.
What happened after placebo patients switched to VDPHL01 in MANE Study 302?
After six months on placebo, participants crossed to VDPHL01 for the remaining six months. At Month 12, hair count increased by 32.1 hairs/cm² (BID) and 24.5 hairs/cm² (QD); visible improvement was reported by 82.0% (BID) and 73.2% (QD).
When does Veradermics expect MANE Study 306 data?
Veradermics anticipates data from its female pattern hair loss Phase 2/3 Study ‘306’ in the first half of 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 9, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
(Registrant’s telephone number, including area code): (228 ) 372-3376
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 7.01. Regulation FD Disclosure.
On November 9, 2026, Veradermics, Incorporated (the “Company”) issued a press release announcing positive topline data from Part B of the Phase 2/3 clinical trial, Study ‘302’ evaluating VDPHL01 in males with mild-to-moderate pattern hair loss.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and the presentation the Company presented on a conference call and webcast held to discuss the Study ‘302’ data is furnished as Exhibit 99.2 to this Current Report on Form 8-K, and both are incorporated by reference herein. The information contained in Item 7.01 of this Current Report on Form 8-K and the Exhibits 99.1 and 99.2 furnished under Item 7.01 of this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act, regardless of any general incorporation language in such filing.
Item 8.01 Other Events.
On November 9, 2026, the Company announced positive topline results from Part B of its randomized, double-blind, placebo-controlled, registration-directed Phase 2/3 clinical trial (Study ‘302’) evaluating VDPHL01, an investigational, proprietary, extended-release oral minoxidil formulation, in over 500 males with mild-to-moderate pattern hair loss. Study ‘302’ enrolled 519 patients who were randomized to receive either VDPHL01 8.5mg once daily (QD), VDPHL01 8.5mg twice daily (BID), or placebo for 6 months. After Month 6, patients in the placebo group were crossed over into VDPHL01 treatment arms for the remaining 6 months.
In Part B of Study ‘302’, participants in the VDPHL01 continued group had an increase in non-vellus hair count of 43.9 hairs/cm2 and 29.7 hairs/cm2 in twice-daily (BID) and once-daily (QD) treatment arms from baseline to Month 12, respectively. These results demonstrated a deepening of hair growth in the BID dose arm and maintenance of hair growth for the QD dose arm.
At Month 12 of treatment with VDPHL01, 89.1% of participants in the BID dose arm and 79.8% of participants in the QD dose arm reported visible improvement in hair coverage on the Androgenetic Alopecia Impact Rating Scale (AAIRS). Additionally, 68.0% of participants in the BID dose arm and 48.4% of participants in the QD dose arm achieved ‘improved’ or ‘much improved’ hair coverage on the AAIRS.
Investigator perception of hair growth further supported the consistency of meaningful hair growth reported by participants, with investigators grading 92.2% (BID) and 74.4% (QD) of participants as having improved hair coverage using the Investigator Global Assessment (IGA) scale.
Treatment with VDPHL01 in the continued group was generally well tolerated through Month 12 with an overall safety profile consistent with Part A of Study ‘302’ and Study ‘304’. No treatment-related SAEs, no AESIs of cardiac origin, and no new safety signals were observed in the study. No TEAEs leading to study discontinuation were observed between Month 6 and Month 12 in the VDPHL01 continued group.
At Month 12, participants in the BID and QD placebo crossed treatment arms had an increase in non-vellus hair count of 32.1 hairs/cm2 and 24.5 hairs/cm2, respectively. Visible improvements in hair coverage for participants in the placebo crossed group were reported by 82.0% of participants in the BID dose arm and 73.2% of participants in the QD dose arm on the AAIRS. Additionally, 60.7% of participants in the BID dose arm and 42.9% of participants in the QD dose arm achieved ‘improved’ or ‘much improved’ hair coverage on the outcome.
Further, the consistency of clinically meaningful hair growth reported by participants was supported by investigator perception of hair growth, with investigators grading 83.9% and 80.0% of BID and QD participants in the placebo crossed group, respectively, as having improved hair coverage at Month 12 using the IGA scale. Treatment in the placebo crossed group was generally well tolerated with a safety profile comparable to those observed in the VDPHL01 continued group.
Forward Looking Statements
This Current Report on Form 8-K contains forward-looking statements, which involve risks, uncertainties and contingencies, many of which are beyond the control of Veradermics, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements other than statements of historical facts contained in this Current Report on Form 8-K are forward-looking statements. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. You are cautioned not to place undue reliance on these forward-looking statements, including statements regarding the perceived efficacy of VDPHL01; the clinical profile of VDPHL01, including its safety profile; the perceived benefits of VDPHL01; and the interpretation and significance of clinical data from Study ‘302’ and other clinical trials. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including: Veradermics’ limited operating history with no products approved for commercial sale; Veradermics’ incurrence of substantial losses since its inception, anticipation of incurring substantial and increasing losses for the foreseeable future and need for substantial additional financing to achieve its goals; Veradermics’ anticipation that its success will depend on the approval and successful commercialization of VDPHL01, which is its lead product candidate, and if Veradermics is unable to obtain regulatory approval for, and successfully commercialize, VDPHL01, or any other current or future product candidates, or experience significant delays in doing so, its business will be materially harmed; the risk that adverse events or undesirable side effects are caused by Veradermics’ product candidates; competition from other companies; and other risks and uncertainties identified in the “Risk Factors” section of Veradermics’ Quarterly Report on Form 10-Q for the period ended June 30, 2026, and subsequent filings with the U.S. Securities and Exchange Commission. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and actual future results, levels of activity, performance and events and circumstances could differ materially from those projected in the forward-looking statements. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Veradermics’ control, these forward-looking statements should not be relied upon as guarantees of future events. Moreover, Veradermics operates in an evolving environment. New risks and uncertainties may emerge from time to time, and management cannot predict all risks and uncertainties. These forward-looking statements speak only as of the date of this Current Report on Form 8-K, and Veradermics undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press release issued by the Company on November 9, 2026 | |||||||
| 99.2 | Investor presentation dated November 9, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VERADERMICS, INCORPORATED | ||||||||
| By: | /s/ Reid Waldman, M.D. | |||||||
Name: Reid Waldman, M.D. | ||||||||
Title: Chief Executive Officer | ||||||||
Date: November 9, 2026
Exhibit 99.1
Veradermics Achieved the Highest VDPHL01 Reported Hair Count in the Phase 3 Program to Date in Positive 12-Month Study '302' Data in Male Pattern Hair Loss
VDPHL01, a novel orally-administered extended-release minoxidil formulation, demonstrated Target Area Hair Count (TAHC) deepening in twice-daily (BID) and maintenance in once-daily (QD) treatment arms with increases in non-vellus hair counts of 43.9 hairs/cm 2 (BID) and 29.7 hairs/cm2 (QD) from baseline at Month 12
12-month long-term data demonstrated consistency of hair growth across patient-reported outcomes (PRO) with 89.1% (BID) and 79.8% (QD) reporting visible improvement and 68.0% (BID) and 48.4% (QD) of participants reporting ‘much improved’ or ‘improved’ hair coverage
Favorable 12-month long-term safety and tolerability profile remained consistent with previously reported data, with no new safety signals and no adverse event-related study discontinuations observed after an additional 6 months of treatment
These 12-month long-term results combined with previously reported positive topline findings from Part A of Study ‘302’ and ‘304’ reinforce the potential for VDPHL01 to become the first FDA-approved, non-hormonal, oral treatment for the 50 million men with pattern hair loss in the U.S.
Conference call and webcast scheduled for 8:00 a.m. ET today
NEW HAVEN, Conn.--(BUSINESS WIRE)--Nov. 09, 2026-- Veradermics, Incorporated (NYSE: MANE), a dermatologist-founded, late-stage biopharmaceutical company focused on developing innovative therapeutics for pattern hair loss, today announced positive topline results from Part B of its randomized, double-blind, placebo-controlled, registration-directed Phase 2/3 clinical trial (Study ‘302’) evaluating VDPHL01, an investigational, proprietary, extended-release oral minoxidil formulation, in over 500 males with mild-to-moderate pattern hair loss. These positive results, combined with previously reported positive topline findings from Study ‘302’ Part A and Phase 3 Study ‘304’ Part A, position VDPHL01 to potentially become the first FDA-approved oral pill in nearly 30 years for pattern hair loss and a potential new treatment option for the 50 million men with pattern hair loss in the U.S. To date, data has been reported for more than 1,000 participants in registration-directed studies of VDPHL01 for the treatment of male pattern hair loss.
"The 12-month long-term data from Study ‘302’ represent an important milestone in our efforts to provide a new standard of care for male pattern hair loss, demonstrating maintenance of improvement across all key efficacy endpoints and deepening of the target area hair count in the twice-daily VDPHL01 group," said Reid Waldman, M.D., Chief Executive Officer of Veradermics. "VDPHL01 was also well tolerated with no newly-identified safety signals. These data support the potential of VDPHL01 to transform the treatment of pattern hair loss."
Study ‘302’ enrolled 519 patients who were randomized to receive either VDPHL01 8.5mg once daily (QD), VDPHL01 8.5mg twice daily (BID), or placebo for 6 months. After Month 6, patients in the placebo group were crossed over into VDPHL01 treatment arms for the remaining 6 months.
Deepened or Maintained Effect of Hair Growth in the VDPHL01 Continued Group
In Part B of Study ‘302’, participants in the VDPHL01 continued group had an increase in non-vellus hair count of 43.9 hairs/cm2 and 29.7 hairs/cm2 in twice-daily (BID) and once-daily (QD) treatment arms from baseline to Month 12, respectively. These results demonstrated a deepening of hair growth in the BID dose arm and maintenance of hair growth for the QD dose arm.
At Month 12 of treatment with VDPHL01, 89.1% of participants in the BID dose arm and 79.8% of participants in the QD dose arm reported visible improvement in hair coverage on the Androgenetic Alopecia Impact Rating Scale (AAIRS). Additionally, 68.0% of participants in the BID dose arm and 48.4% of participants in the QD dose arm achieved ‘improved’ or ‘much improved’ hair coverage on the AAIRS.
Investigator perception of hair growth further supported the consistency of meaningful hair growth reported by participants, with investigators grading 92.2% (BID) and 74.4% (QD) of participants as having improved hair coverage using the Investigator Global Assessment (IGA) scale. The consistency of response observed at both the Month 6 and Month 12 timepoints, together with high rates of improvement reported by both participants and investigators, may increase the potential for long-term patient adherence to VDPHL01, if approved.
12-Month Long-Term Safety and Tolerability in the VDPHL01 Continued Group
Treatment with VDPHL01 was generally well tolerated through Month 12 with an overall safety profile consistent with Part A of Study ‘302’ and Study ‘304’. No treatment-related SAEs, no AESIs of cardiac origin, and no new safety signals were observed in the study. No TEAEs leading to study discontinuation were observed between Month 6 and Month 12 in the VDPHL01 continued group.
Placebo Crossed Group Demonstrated a Favorable Safety and Tolerability Profile and Achieved Clinically Meaningful Benefit Following 6 Months of Treatment
At Month 12, participants in the BID and QD placebo crossed treatment arms had an increase in non-vellus hair count of 32.1 hairs/cm2 and 24.5 hairs/cm2, respectively. Visible improvements in hair coverage for participants in the placebo crossed group were reported by 82.0% of participants in the BID dose arm and 73.2% of participants in the QD dose arm on the AAIRS. Additionally, 60.7% of participants in the BID dose arm and 42.9% of participants in the QD dose arm achieved ‘improved’ or ‘much improved’ hair coverage on the outcome.
Further, the consistency of clinically meaningful hair growth reported by participants was supported by investigator perception of hair growth, with investigators grading 83.9% and 80.0% of BID and QD participants in the placebo crossed group, respectively, as having improved hair coverage at Month 12 using the IGA scale. Treatment in the placebo crossed group was generally well tolerated with a safety profile comparable to those observed in the VDPHL01 continued group.
"Pattern hair loss is epidemiologically the most common condition in dermatology; however, only a small fraction of patients seek prescription treatment, and an even smaller fraction of patients are satisfied with their treatment. Many patients hesitate to treat their pattern hair loss today because they are either concerned about safety of hormonal agents and off-label therapies or because they do not believe today’s treatments make visible hair regrowth a realistic possibility," said Michael Gold, M.D., Board-certified Dermatologist, Study ‘302’ Investigator and paid consultant of Veradermics. "These results from Study ‘302’ and the overall VDPHL01 Phase 3 program give me hope that patients could finally have an option
that meets their needs, potentially providing a reason for the tens of millions of people silently suffering on the sidelines to seek treatment."
Study ‘302’ Part B is part of Veradermics’ registration-directed development program to support the potential approval of VDPHL01 in both male and female pattern hair loss. In October 2026, Veradermics announced positive topline results from Part A of its randomized, double-blind, placebo-controlled Phase 3 Study ‘304’ evaluating VDPHL01 in over 500 males with mild-to-moderate pattern hair loss which represented the completion of all planned placebo-controlled data for male pattern hair loss. The Company anticipates announcing data from its female pattern hair loss Phase 2/3 trial, Study ‘306’, in the first half of 2027.
Veradermics will host a conference call and live webcast today at 8:00 a.m. ET to discuss the topline Study ‘302’ Part B results. A live webcast will be available on the Events page in the Investors section of the Company’s website. A replay will be available following the call.
About VDPHL01
VDPHL01 (extended-release minoxidil tablet) is a proprietary investigational, oral non-hormonal drug in Phase 3 development for pattern hair loss in both women and men. VDPHL01 leverages extended-release technology to deliver a minoxidil product with the potential for improved efficacy and safety. The proprietary extended-release formulation utilizes a gel matrix designed to deliver long-lasting, steady release of minoxidil for sustained absorption. VDPHL01 has been shown to avoid the high peak concentrations of immediate-release oral minoxidil, while extending time above the minimum hair growth threshold to increase time for hair to grow. If approved, VDPHL01 would be the only FDA-approved oral non-hormonal treatment for pattern hair loss in both male and female patients. VDPHL01 is protected by a broad library of patents and patent applications related to the key innovations of VDPHL01. The earliest expiring patent term is 2043.
About the VDPHL01 Registration-Directed Clinical Development Program
The registration-directed clinical development program for VDPHL01 comprises three multicenter, randomized, double-blind, placebo-controlled trials that together enrolled more than 1,600 adult men and women with mild-to-moderate pattern hair loss.
Each trial employs a 52-week design consisting of a 6-month placebo-controlled period followed by a 6-month extension in which all participants receive VDPHL01. Each trial has the same co-primary endpoints at Month 6: change from baseline in non-vellus target area hair count (TAHC), and the proportion of participants reporting “improved” or “much improved” hair coverage on the Androgenetic Alopecia Impact Rating Scale (AAIRS). Studies ‘302’ and ‘306’ include a Phase 2 component to further assess the proprietary patient-reported outcome (PRO) measures used across the program.
These trials are designed to support the potential FDA approval of VDPHL01 in both male and female pattern hair loss and include:
•Study ‘302’ (NCT06724614): Phase 2/3 trial of VDPHL01 8.5 mg once and twice daily in 519 men.
•Study ‘304’ (NCT06972264): Phase 3 trial of VDPHL01 8.5 mg once and twice daily in 536 men.
•Study ‘306’ (NCT07146022): Phase 2/3 trial of VDPHL01 4.5 mg once and twice daily in 556 women. It is the first registration-directed trial of an oral therapy specifically for female pattern hair loss in the U.S.
The program builds on earlier clinical studies of VDPHL01, including Study ‘207,’ an open-label Phase 2 proof-of-concept trial in men and women with pattern hair loss, and a Phase 1 pharmacokinetic study.
About Pattern Hair Loss
Pattern hair loss, also known as androgenetic alopecia, affects an estimated 80 million people in the United States (30 million women and 50 million men). Pattern hair loss can have a significant impact on quality of life, affecting an individual’s mental health and relationships. People with pattern hair loss often experience depression, low self-esteem, and social withdrawal. There have been no new FDA-approved prescription medicines for pattern hair loss in nearly 30 years. In addition, current treatments include over-the-counter “nutraceuticals” that produce inconsistent results and contribute to high dissatisfaction among patients and healthcare providers. The prevalence of pattern hair loss and the market demand for new treatments contribute to making it the largest aesthetics market worldwide, projected to reach approximately $30 billion by 2028.
About Veradermics, Inc.
Veradermics is a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics for pattern hair loss. Veradermics aims to develop a focused portfolio of aesthetic dermatology product candidates targeting high-prevalence dermatologic conditions, with potential selective development of medical dermatology product candidates. Its lead program, VDPHL01, is being developed as an oral, non-hormonal treatment for men and women with pattern hair loss, to reduce the barriers to wide adoption of chronic hair loss therapy and potentially transform pattern hair loss treatment. VDPHL01 is an oral, extended-release proprietary formulation of minoxidil, a proven hair growth agent, designed to maximize minoxidil’s impact on hair restoration while minimizing the risk of cardiac activity. For additional information, visit www.veradermics.com and follow us on LinkedIn and Instagram.
Forward-Looking Statements
This press release contains forward-looking statements, which involve risks, uncertainties and contingencies, many of which are beyond the control of Veradermics, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements regarding the clinical profile of VDPHL01, including its safety profile; the perceived benefits of VDPHL01; VDPHL01’s potential to become the new standard of care for the 50 million men with pattern hair loss in the U.S.; the perceived efficacy of VDPHL01; the design and objectives of Veradermics’ registration-directed clinical development program, including its potential to support regulatory approval of VDPHL01 for both male and female pattern hair loss, and the timing of any such approval; the timing of reporting additional clinical results, including anticipated data from Studies ‘304’ and ‘306’; VDPHL01’s potential to become the first FDA-approved non-hormonal oral treatment for pattern hair loss; the projected size of the market for pattern hair loss; and the scope and duration of patent protection for VDPHL01. These forward-looking
statements are based upon current estimates and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including: Veradermics’ limited operating history with no products approved for commercial sale; Veradermics’ incurrence of substantial losses since its inception, anticipation of incurring substantial and increasing losses for the foreseeable future and need for substantial additional financing to achieve its goals; Veradermics’ anticipation that its success will depend on the approval and successful commercialization of VDPHL01, which is its lead product candidate, and if Veradermics is unable to obtain regulatory approval for, and successfully commercialize, VDPHL01, or any other current or future product candidates, or experience significant delays in doing so, its business will be materially harmed; the risk that adverse events or undesirable side effects are caused by Veradermics’ product candidates; competition from other companies; and other risks and uncertainties identified in the “Risk Factors” section of Veradermics’ Quarterly Report on Form 10-Q, for the period ended June 30, 2026, and subsequent filings with the U.S. Securities and Exchange Commission. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and actual future results, levels of activity, performance and events and circumstances could differ materially from those projected in the forward-looking statements. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Veradermics’ control, these forward-looking statements should not be relied upon as guarantees of future events. Moreover, Veradermics operates in an evolving environment. New risks and uncertainties may emerge from time to time, and management cannot predict all risks and uncertainties. These forward-looking statements speak only as of the date of this press release, and Veradermics undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Contacts
Media:
Catherine Collier Kyroulis
Media@veradermics.com
(917) 886-5586
Investors:
investors@veradermics.com
Study ‘302’ Part B Phase 3 Topline Data in Males with Mild-to-Moderate Pattern Hair Loss November 2026 NOVEMBER 2026
Agenda 3 1 Opening Remarks 2 Study ‘302’ Part B Results 3 KOL Discussion 4 VDPHL01 Commercial Opportunity 5 Closing Remarks 6 Q&A Reid Waldman, M.D. Chief Executive Officer, Veradermics Mark Neumann Chief Commercial & Strategy Officer, Veradermics Dominic Carrano Chief Financial Officer, Veradermics Michael H. Gold, M.D., FAAD* Founder of Gold Skincare, Advanced Aesthetics Medical Spa, The Laser and Rejuvenation Center, and Tennessee Clinical Research Center Clinical Assistant Professor, Vanderbilt University Study 302 Investigator MANE Speakers Joined by NOVEMBER 2026 *Dr. Michael Gold is a paid consultant for Veradermics.
This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than historical factual information are forward-looking statements, including without limitation statements regarding our product development activities for VDPHL01 and ongoing clinical trials; the ability of clinical trials to demonstrate safety and efficacy of VDPHL01; the beneficial characteristics, and the potential safety, efficacy and therapeutic effects of VDPHL01; our ability to develop and advance our potential future product candidates and programs; our ability to pursue and execute our strategy for our indications, business, programs and technology; our ability to leverage existing programs and to progress additional programs, the timing of investigational new drug application submissions; the timing of and our ability to obtain and maintain regulatory approval of our product candidates; our ability to compete with companies currently selling, marketing or engaged in the development of treatments for diseases that our product candidates are designed to target, including pattern hair loss (PHL); our estimates regarding the size and growth potential of the commercial opportunity for VDPHL01 and our current product candidates or other product candidates we may identify and pursue, and our ability to serve those markets; objectives for future operations and other estimates contained herein. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar expressions that concern our expectations, strategy, plans or intentions, although not all forward-looking statements are accompanied by such words. Forward-looking statements are based on assumptions and assessments made by our management in light of their experience and perceptions of historical trends, current conditions, expected future developments and other factors they believe to be appropriate, and speak only as of the date of this presentation. Disclaimer 4 Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or other events to be materially different from any future results, performance or other events expressed or implied by the forward-looking statements, including the risks and uncertainties identified in the "Risk Factors" section of our Quarterly Report on Form 10-Q for the period ended June 30, 2026, and subsequent filings with the U.S. Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statements. Our actual future results, performance or other events may be materially different from what we expect. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Market data and industry information used throughout this presentation are based on management’s knowledge of the industry and the good faith estimates of management. We also relied, to the extent available, upon management’s review of independent industry surveys and publications and other publicly available information prepared by a number of third-party sources. All of the market data and industry information used in this presentation involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Although we believe that these sources are reliable as of their respective dates, we cannot guarantee the accuracy or completeness of this information, and we have not independently verified this information. Projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of such products. This presentation discusses potential future product candidates that are investigational only and have not yet been approved for marketing by the U.S. Food and Drug Administration. No representation is made as to the safety or effectiveness of these potential future product candidates for the use for which such potential future product candidates are being studied. NOVEMBER 2026
Positive Study ‘302’ Part B 12-month results support long-term safety, tolerability and efficacy of VDPHL01 in males with pattern hair loss 5 Clinically significant responses deepened or maintained at Month 12 Average non-vellus hair count change of 29.7 - 43.9 hairs/cm2; 79.8% - 89.1% of subjects reported improvement in hair coverage; 48.4% - 62.9% of subjects reported ‘improved’ or ‘much improved’ hair coverage (QD - BID) Long-term safety demonstrated with 12 months of continued treatment No new safety signals in Part B of Study ‘302’; no treatment-related SAEs; no AESIs of cardiac origin NOVEMBER 2026 Assess Long-Term Safety Assess Durability of Response RESULTOBJECTIVE Placebo cross over data from months 7-12 demonstrated consistent, clinically significant benefit from baseline with no new safety signals following 6 months of treatment with VDPHL01
50 50 32 30 16 8 30 10 20 30 40 50 60 PHL (Men) Acne (All Ages) Atopic Dermatitis (Eczema) PHL (Women) Rosacea Psoriasis Vitiligo Pattern hair loss (PHL) impacts ~80 million people in the U.S. 6 M Men with PHL Pa tie nt s Af fe ct ed in th e U .S .1 ( M ) American Academy of Dermatology. Skin conditions by the numbers. Accessed September 8, 2026. https://www.aad.org/media/stats/conditions/hair-loss M Women with PHL Million U.S. patients: ~50M men without a new oral treatment in ~30 years; ~30M women without FDA-approved oral treatment options~80 NOVEMBER 2026
VDPHL01’s proprietary extended-release technology delivers a differentiated formulation of minoxidil intended to optimize efficacy and safety 7 10x difference between minoxidil hair growth threshold and minoxidil cardiac activity threshold VDPHL01 is designed to deliver nearly twice the total amount of minoxidil over 12h and maintains concentrations above the hair growth threshold twice as long vs. a 2.5 mg IR tablet* First minoxidil extended-release tablet and only oral minoxidil tablet positioned for potential approval for the treatment of PHL 10x Blunted maximum observed concentration (Cmax) is designed to maintain plasma concentrations below the cardiac activity threshold 1Ferry JJ, Turner S, Albert DE, Dietz AGH, Luderer JR. Hemodynamic effects of minoxidil following intravenous infusions in untreated hypertensive patients. Clin Pharmacol Ther. 1996;59(2):166. 2Bokhari L, et al. J Eur Acad Dermatol Venereol. 2022;36:e62-e66. *Per pharmacokinetics data from average plasma concentrations for male patients (n=10) from Study QSC300720 evaluating males taking VDPHL01 8.5mg and minoxidil 2.5 mg IR. 0 5 10 15 20 25 30 Pl as m a C on ce nt ra tio n (n g/ m L) C a r d i a c A c t i v i t y T h r e s h o l d ( 2 0 n g / m L ) 1 H a i r g r o w t h t h r e s h o l d ( 1 . 6 2 n g / m L ) 2 I d e a l M i n o x i d i l P l a s m a T a r g e t C o n c e n t r a t i o n NOVEMBER 2026
Minoxidil mechanism of action is capacity-limited and time dependent 8 Minoxidil Hair follicles contain the SULT1A1 sulfotransferase enzyme that locally converts minoxidil to its active metabolite, minoxidil sulfate Hair growth is stimulated at low plasma levels of minoxidil because of its local metabolism to minoxidil sulfate at the hair bulb 2 VDPHL01 is designed to increase the duration of exposure to metabolized minoxidil sulfate at the hair follicle PARENT DRUG ACTIVE DRUG 1 1 2 Minoxidil Sulfate VDPHL01 is designed to optimize the consistency and duration of exposure to active minoxidil sulfate NOVEMBER 2026
Study ‘302’ trial design QD: Daily Dosing BID: 2x/day Dosing **All patients take investigational product or matched placebo twice daily (2x VDPHL01; VDPHL01 + placebo; 2x placebo) TAHC: Target Area Hair Count PRO: Proprietary patient reported outcomes (PRO) scale designed for the VDPHL01 clinical trials Actual Enrollment 519 subjects, randomized 2:2:1:1 Clinical Sites 44 U.S. sites Study Population Male subjects 18-65 years of age (inclusive) with mild-to-moderate PHL Part A: Placebo Controlled Period (Months 1-6) Part B: Treatment Extension Period (Months 7-12) Group 1: VDPHL01 8.5 mg BID Group 2: VDPHL01 8.5 mg QD** Group 2: VDPHL01 8.5 mg QD 12-month topline data Group 3: VDPHL01 8.5 mg BID 6-month topline placebo cross over data 9 PART A TOPLINE DATA ANNOUNCED APRIL 2026 PART B TOPLINE DATA Group 1: VDPHL01 8.5 mg BID 12-month topline data Group 4: VDPHL01 8.5 mg QD 6-month topline placebo cross over data Group 3: Placebo BID NOVEMBER 2026 12 Months Continued Treatment with VDPHL01 Note: Part A was the pivotal portion of Study ‘302’ evaluating VDPHL01 against primary endpoints. Part B is a dose-controlled extension of the study. Efficacy analyses for Part B are ITT (observed) based on available data in each treatment group.
VDPHL01 8.5MG QD (12M Active) VDPHL01 8.5MG BID (12M Active) VDPHL01 8.5MG QD (6M Placebo Cross Over) VDPHL01 8.5MG BID (6M Placebo Cross Over) Total Study Participants 140 145 66 70 421 Age Mean (SD), Median 42.0 (10.3), 40.0 43.1 (10.6), 42.0 41.4 (9.1), 39.0 44.4 (10.3), 44.5 42.7 (10.2), 42.0 Patients age 40+; n (%) 77 (55.0) 88 (60.7) 32 (48.5) 50 (71.4) 247 (58.7) Minimum, Maximum 21, 63 19, 65 26, 65 22, 65 19, 65 Race n (%) American Indian/Alaska Native 3 (2.1) 3 (2.1) 1 (1.5) 3 (4.3) 10 (2.4) Asian 12 (8.6) 8 (5.5) 5 (7.6) 4 (5.7) 29 (6.9) Black or African American 6 (4.3) 6 (4.1) 7 (10.6) 10 (14.3) 29 (6.9) Native Hawaiian or Pacific Islander 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) White 119 (85.0) 125 (86.2) 53 (80.3) 52 (74.3) 349 (82.9) Multiple 0 (0) 3 (2.1) 0 (0) 1 (1.4) 4 (1.0) Ethnicity n (%) Hispanic or Latino 18 (12.9) 26 (17.9) 9 (13.6) 6 (8.6) 59 (14.0) Not Hispanic or Latino 122 (87.1) 119 (82.1) 57 (86.4) 64 (91.4) 362 (86.0) Baseline Norwood Hamilton Severity n (%) Type IIIv 65 (46.4) 65 (44.8) 35 (53.0) 35 (50.0) 200 (47.5) Type IV 41 (29.3) 48 (33.1) 16 (24.2) 22 (31.4) 127 (30.2) Type V 34 (24.3) 32 (22.1) 15 (22.7) 13 (18.6) 94 (22.3) Additional Baseline Characteristics Baseline Non-Vellus Hair Count; mean (SD), median 154.4 (49.1), 154.0 150.6 (52.04), 147.0 153.5 (54.7), 158.5 151.1 (65.2), 135.0 -- Hypertensive at Baseline; n (%) 78 (55.7) 67 (46.2) 39 (59.1) 37 (52.9) 221 (52.5) Study ‘302’ Part B baseline characteristics 10 Data on File. Veradermics, Inc.NOVEMBER 2026
Long-Term Safety Following 12 months of continued treatment with VDPHL01 11
Study ‘302’ Part B 12-month results support long-term safety and tolerability of VDPHL01 in males with pattern hair loss 12 NOVEMBER 2026 No treatment-related SAEs✓ No adverse events of special interest (AESI) of cardiac origin✓ No new clinically significant vital sign or ECG signals✓ No new cases of peripheral edema in '302' Part B✓ AT 12 MONTHS: Lack of observed shedding ✓ New cases observed in Part B for the VDPHL01 Continued Group VDPHL01 8.5 mg QD VDPHL01 8.5 mg BID Peripheral Edema 0 0 Peripheral edema leading to study discontinuation (per subject); % (n) 0 0 Hypertrichosis 2.1% (3) 2.8% (4) Hypertrichosis leading to study discontinuation (per subject); % (n) 0 0 No AE-related study discontinuations in Part B for VDPHL01 Continued Group Data on File. Veradermics, Inc.
Long-Term Efficacy Following 12 months of continued treatment with VDPHL01 13
TAHC co-primary endpoint leverages the only measurement methodology used for FDA approval in PHL since 1997 • Digital analysis lines up consecutive images to ensure the same location is captured. • Hairs ≥30 μm in diameter are counted as being non-vellus. • Digital analysis algorithm discerns both increases in number and thickness of hairs. • Accuracy of analysis is ensured by utilizing counts from 2 separate technicians. Study ‘302’ Co-Primary Endpoints (Evaluated in Part A) Target area hair count (TAHC) Patient-reported outcome (PRO) 14 Patient tattooed for location replicability PRO co-primary endpoint is evaluated using the Androgenetic Alopecia Impact Rating Score (AAIRS) • All photography is standardized and undergoes quality control to ensure consistent imagery and parting • Patients are shown full-size photographs at baseline and evaluated time points to directly assess changes to the severity of their PHL on a 7-point scale from ‘Much Worse’ to ‘Much Improved’ AAIRS 7-Point Scale 3 = MUCH IMPROVED 2 = IMPROVED 1 = A LITTLE IMPROVED 0 = NO CHANGE -1 = A LITTLE WORSE -2 = WORSE -3 = MUCH WORSE *Co-primary endpoint VDPHL01 has achieved highly statistically significant and highly clinically meaningful benefit on both co-primary endpoints in both registration-directed male studies NOVEMBER 2026
Study ‘302’ Part B demonstrated the durability of treatment effect with both QD and BID dosing at Month 12 15 29.7 43.9 0 5 10 15 20 25 30 35 40 45 VDPHL01 8.5mg QD VDPHL01 8.5mg BID N on -V el lu s T AH C In cr ea se Non-Vellus TAHC Increase absolute; from baseline at Month 12 ∆=23.1 VDPHL01 8.5mg QD VDPHL01 8.5mg BID n=171 NOVEMBER 2026 *ITT (observed data) Data on File. Veradermics, Inc. Note: ITT (observed data) is based on subjects with available data in each treatment group
VDPHL01 delivered early treatment response that is durable over 12 months in Study ‘302’ 16 Data on File. Veradermics, Inc.NOVEMBER 2026 Study ‘302’ TAHC Increase from baseline at Months 2, 6 and 12 28.0 30.3 29.7 35.9 33.0 43.9 0 5 10 15 20 25 30 35 40 45 Month 2 Month 6 Month 12 N on -V el lu s T AH C In cr ea se VDPHL01 8.5mg QD VDPHL01 8.5mg BID Note: ITT (observed data) is based on subjects with available data in each treatment group MONTH 6 MONTH 12 *ITT (Observed) MONTH 2
29.7 43.9 0 5 10 15 20 25 30 35 40 45 Study '302' Part B (Month 12) N on -V el lu s T AH C In cr ea se VDPHL01 12-month results in context of the male PHL treatment landscape 17 Data on File. Veradermics, Inc.NOVEMBER 2026 18.6 16.9 0 5 10 15 20 25 30 35 40 45 Topical Minoxidil 5% Finasteride 1mg N on -V el lu s T AH C In cr ea se TAHC Increase From Baseline at Month 12 Additional Male PHL Studies TAHC Increase From Baseline at Month 12 VDPHL01 in Males ITT (observed) VDPHL01 data are presented from Study ‘302’ Part B, based on the number of subjects with available data in each treatment group. Comparator data are presented from 1 Olsen (2022) and 2Kaufmann (1998) Note: No head-to-head studies comparing VDPHL01 to finasteride or other forms of minoxidil have been conducted. The results of this retrospective post hoc cross-trial comparison may not be directly comparable. Differences exist between trial designs and subject characteristics, and caution should be exercised when comparing data across unrelated studies. 1Olsen EA, Dunlap FE, Funicella T, Koperski JA, Swinehart JM, Tschen EH, Trancik RJ. A randomized clinical trial of 5% topical minoxidil versus 2% topical minoxidil and placebo in the treatment of androgenetic alopecia in men. J Am Acad Dermatol. 2002 Sep;47(3):377-85. doi: 10.1067/mjd.2002.124088. PMID: 12196747; 2Kaufman KD, Olsen EA, Whiting D, Savin R, DeVillez R, Bergfeld W, Price VH, Van Neste D, Roberts JL, Hordinsky M, Shapiro J, Binkowitz B, Gormley GJ; Finasteride Male Pattern Hair Loss Study Group. Finasteride in the treatment of men with androgenetic alopecia. J Am Acad Dermatol. 1998 Oct;39(4 Pt 1):578-89. doi: 10.1016/s0190-9622(98)70007-6. PMID: 9777765. VDPHL01 8.5mg QD VDPHL01 8.5mg BID
Study ‘302’ Part B demonstrated the durability of treatment effect with both QD and BID dosing at Month 12: PRO +2 18 48.4% 48.4% 62.9% 68.0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Month 6 Month 12 % R es po ns e VDPHL01 8.5mg QD VDPHL01 8.5mg BID AAIRS 7-Point Scale 3 = MUCH IMPROVED 2 = IMPROVED 1 = A LITTLE IMPROVED 0 = NO CHANGE -1 = A LITTLE WORSE -2 = WORSE -3 = MUCH WORSE MONTH 6 MONTH 12 *ITT (Observed) PRO +2 at Month 12 VDPHL01 8.5mg QD & BID NOVEMBER 2026 Data on File. Veradermics, Inc. Note: ITT (observed data) is based on subjects with available data in each treatment group
79.3% 79.8%86.0% 89.1% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% MONTH 6 MONTH 12 % R es po ns e VDPHL01 8.5mg QD VDPHL01 8.5mg BID Patient reported outcomes of any improvement support high rates of clinically meaningful impact >80% of study patients** said that any improvement* on the PRO would be clinically meaningful to them 19 *“Any improvement” represents all patients that determined their hair growth to represent +1 (“a little improved), +2 (“improved”) or +3 (“much improved”) on the AAIRS PRO scale at Month 6 AAIRS 7-Point Scale 3 = MUCH IMPROVED 2 = IMPROVED 1 = A LITTLE IMPROVED 0 = NO CHANGE -1 = A LITTLE WORSE -2 = WORSE -3 = MUCH WORSE **surveyed during in-trial interviews n=171 Any Improvement* from Baseline at Month 12 VDPHL01 8.5mg QD & BID MONT 6 MO TH 12 NOVEMBER 2026 *ITT (observed) Data on File. Veradermics, Inc. Note: ITT (observed data) is based on subjects with available data in each treatment group
72.0% 74.4% 84.4% 92.2% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% MONTH 6 MONTH 12 % R es po ns e VDPHL01 8.5mg QD VDPHL01 8.5mg BID Investigator global assessment underscores consistency and durability of response: any improvement 20 IGA 7-Point Scale 3 = GREATLY INCREASED 2 = MODERATELY INCREASED 1 = SLIGHTLY INCREASED 0 = NO CHANGE -1 = SLIGHTLY DECREASED -2 = MODERATELY DECREASED -3 = GREATLY DECREASED % Responders per IGA Assessment at Month 12 VDPHL01 8.5mg QD & BID NOVEMBER 2026 Data on File. Veradermics, Inc. MO TH 6 MONTH 12 *ITT (Observed) Note: ITT (observed data) is based on subjects with available data in each treatment group
Placebo Crossed Group 6 months of treatment with VDPHL01 following 6 months of placebo 21
24.5 32.1 0 5 10 15 20 25 30 35 40 45 Study '302' Part B (Month 12) N on -V el lu s T AH C In cr ea se Placebo crossed group in Study ‘302’ demonstrated clinically meaningful benefit following 6 months of treatment with VDPHL01 22NOVEMBER 2026 42.9% 60.7% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% VDPHL01 8.5mg QD VDPHL01 8.5mg BID % R es po ns e TAHC Increase From Baseline Placebo cross over group at Month 6 PRO +2 Placebo cross over group at Month 6 VDPHL01 8.5mg QD VDPHL01 8.5mg BID VD L01 8.5mg QD VDPHL01 8.5mg BID *ITT (observed data) *ITT (observed data) Data on File. Veradermics, Inc. Note: ITT (observed data) is based on subjects with available data in each treatment group
73.2% 82.0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% VDPHL01 8.5mg QD VDPHL01 8.5mg BID % R es po ns e VDPHL01 8.5mg QD VDPHL01 8.5mg BID Placebo crossed group demonstrated a consistent safety and tolerability profile, clinically meaningful benefit at Month 6 of treatment 23NOVEMBER 2026 80.0% 83.9% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% VDPHL01 8.5mg QD VDPHL01 8.5mg BID % R es po ns e VDPHL01 8.5mg QD VDPHL01 8.5mg BID *ITT (observed data) PRO +1 VDPHL01 QD & BID from placebo crossed over group *ITT (observed data) Placebo Crossed Group Safety Overview • Safety profile consistent with VDPHL01 continued group • No treatment-related SAEs • No adverse events of special interest (AESI) of cardiac origin • No clinically significant changes in heart rate, blood pressure, or ECG • Lack of observed shedding IGA +1 VDPHL01 QD & BID from placebo crossed over group Data on File. Veradermics, Inc. Note: ITT (observed data) is based on subjects with available data in each treatment group
Study ‘302’ Month 12 Before and After Photos – PRO +1 24 Fr on ta l Ve rt ex Baseline Month 12 Baseline Month 12 Baseline Month 12 Baseline Month 12 Images represent responders who ranked their hair coverage as “A Little Improved” following 12 Months of treatment with VDPHL01. Individual results may vary. Data on File. Veradermics, Inc. VDPHL01 8.5mg QD VDPHL01 8.5mg BID NOVEMBER 2026
Study ‘302’ Month 12 Before and After Photos – PRO +2 25 Fr on ta l Ve rt ex Baseline Month 12 Baseline Month 12 Baseline Month 12 Baseline Month 12 Data on File. Veradermics, Inc. Images represent responders who ranked their hair coverage as “Improved” following 12 Months of treatment with VDPHL01. Individual results may vary. VDPHL01 8.5mg QD VDPHL01 8.5mg BID NOVEMBER 2026
Study ‘302’ Month 12 Before and After Photos – PRO +3 26 Fr on ta l Ve rt ex Baseline Month 12 Baseline Month 12 Baseline Month 12 Baseline Month 12 Data on File. Veradermics, Inc. Images represent responders who ranked their hair coverage as “Much Improved” following 12 Months of treatment with VDPHL01. Individual results may vary. VDPHL01 8.5mg QD VDPHL01 8.5mg BID NOVEMBER 2026
27NOVEMBER 2026 Michael H. Gold, M.D., FAAD* Founder of Gold Skincare, Advanced Aesthetics Medical Spa, The Laser and Rejuvenation Center, and Tennessee Clinical Research Center Clinical Assistant Professor, Vanderbilt University Study ‘302’ Investigator KOL Discussion *Dr. Michael Gold is a paid consultant for Veradermics.
NOVEMBER 2026 Month 6Baseline Month 12 Fr on ta l Ve rt ex Michael H. Gold, M.D., FAAD* Founder of Gold Skincare, Advanced Aesthetics Medical Spa, The Laser and Rejuvenation Center, and Tennessee Clinical Research Center Clinical Assistant Professor, Vanderbilt University Study ‘302’ Investigator Month 2 *Dr. Michael Gold is a paid consultant for Veradermics. Images represent a Study ‘302’ subject from Dr. Gold’s clinical trial site, from the BID dosing group, following 12 months of continued treatment with VDPHL01. Individual results may vary. Ba se lin e M on th 1 2 Global View Macro View
29NOVEMBER 2026 Michael H. Gold, M.D., FAAD* Founder of Gold Skincare, Advanced Aesthetics Medical Spa, The Laser and Rejuvenation Center, and Tennessee Clinical Research Center Clinical Assistant Professor, Vanderbilt University Study ‘302’ Investigator KOL Discussion *Dr. Michael Gold is a paid consultant for Veradermics.
VDPHL01 ‘302’ Full Clinical Results: Results from Market Opinion Study November 2026 Presented by: Mark Neumann, Chief Commercial and Strategy Officer
31 Recap of Findings from Previous Blinded Study ‘302’ and Study ‘304’ Topline Market Research NOVEMBER 2026
Study 302 Topline (April): 9 in 10 High-Volume PHL Treaters and Engaged Patients Were Ready to Act on VDPHL01 Based on Blinded Product Profile 32 High-Volume PHL Treaters* (n=153) Engaged Patients (n=190) Source: VDPHL01 Rapid Response Final Report (Study 302 topline profile), fielded April 25, 2026 | 153 HCPs (112 Derms, 41 APPs) and 190 men with PHL | Patient differentiation base n=186 (unsure removed); adoption timing among those likely to prescribe / talk 91% likely to prescribe VDPHL01 (5–7) 73% very or extremely likely (6–7) 91% likely to talk to their doctor about VDPHL01 (5–7) 71% very or extremely likely (6–7) 91% see VDPHL01 as positively differentiated (5–7) 63% very/extremely; top areas: FDA approval 72%, efficacy 71%, safety 70% 95% see VDPHL01 as positively differentiated (5–7) 71% very/extremely; top areas: FDA approval 77%, safety 77%, efficacy 73% 72% would adopt VDPHL01 within 3 months of launch 44% within the first month (base: HCPs likely to prescribe) 79% would talk to their doctor within 3 months 43% within the first month (base: patients likely to talk) April RRP: High-Volume PHL Treaters (n=153) and Engaged Patients (n=190) * "High Volume" defined as seeing at least 30 PHL patients per month NOVEMBER 2026
Study 304 Topline (October): Rx-Hesitant Prescribers Expect to Double Rx Use With VDPHL01 33 Source: Market research using Study 304 Part A results, HCP quant survey, October 2026 | US HCPs: 93 Derms (53 MDs, 40 APPs), 105 PCPs (89 MDs, 16 APPs) | n=198 93 Derms 105 PCPs n=20 qualitative HCP respondents+ n=198 HCPs completed an online survey PHL Treaters: Actively treat or manage average or above- average volume of adult men with PHL every month 64% Of their male patients are NOT treated with Rx 36% → 72% HCPs expect Rx use to double with VDPHL01 approval 86% of HCPs anticipate prescribing VDPHL01 in its first 12 months 5-7 out of 7 57% of their male PHL patients expected to be on VDPHL01 in the first 12 months Hesitant Prescribers: Below-average use of Rx therapy for PHL October RRP: HCPs (n=198) NOVEMBER 2026
34 New Market Research Study: Men with PHL Who Are Not on Prescription Treatment NOVEMBER 2026
We Surveyed 311 Men With PHL Who Are Not on Prescription Therapy 35 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 n=311 Men With Pattern Hair Loss, Aged 18–65 Currently treating vs. not currently treating • Two-thirds (68%) are not currently treating, split about evenly between previously treated (49%) and never treated (51%); the other third (32%) currently use OTC only n=6 survey respondents re-contacted for follow-up interviews to review the full 302 blinded data Survey fielded Oct 30 – Nov 7, 2026; interviews the weekend before the Monday 302 data release CURRENT OTC ONLY n=101 32% of the sample currently uses only OTC products PREVIOUSLY TREATED n=103 33% of the sample stopped treating 12+ months ago (28 past Rx, 75 past OTC) NEVER TREATED n=107 34% of the sample has never used Rx or OTC treatment All Patients Not Currently on Rx Treatment (n=311) NOVEMBER 2026
Men Not on Rx Span a Broad Range of Ages and Incomes, and Two in Three Say Their Hair Is Central to Their Confidence 36 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 | *U.S. Census Bureau, Income in the United States: 2025 (Sept 2026), real median household income A Broad Age Range Age distribution; men aged 18-65 A Mix of Income Levels Annual household income; 41% earn $100K+ 13% $35–49K 24% $50–74K $75–99K 26% $100–149K 15% $150K+ Hair Drives Confidence Importance of hair to self-confidence 2 in 3 (66%) say their hair is very or extremely important to their self-confidence 18-65 Age range Average Age: 48 U.S. median household income: $87,460* All Patients Not Currently on Rx Treatment (n=311) 21% NOVEMBER 2026
Current OTC Users Spend > $75 / Month on Products That Only Moderately Satisfy Them, and Some Have Never Heard of Oral Rx Options 37 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | Base: men with PHL currently using OTC treatment only | n=101 $76 average monthly OTC spend 30% spend $100 or more Only 15% are highly satisfied with their current OTC treatment 6-7 out of 7 Just 6% are extremely satisfied (7) 69% are moderately satisfied (3-5 out of 7) 73% rate 4 or below Current OTC Users (n=101) % of OTC Patients Who Have Never Heard Of the Following Treatments % of current OTC users Oral Finasteride 30% Compounded Topicals 28% 22% TopicalTopical Minoxidil 7% Oral Oral Minoxidil (IR) NOVEMBER 2026
Men Not Currently Treating Want to Treat Their Hair Loss, but About a Third Have Never Heard of Oral Minoxidil or Finasteride 38 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | Base: men with PHL not currently treating (103 previously treated, 107 never treated) | n=210 Previously Treated (n=103) and Never Treated (n=107) % of Not Currently Treated Patients Who Have Never Heard Of the Following Treatments % of men not currently treating Oral Finasteride 40% Oral Minoxidil (IR) 35% Compounded Topicals 34% Topical Minoxidil 8% 82% are interested in or have looked into treatment 57% say hair is very/extremely important to their overall self-confidence TopicalOral NOVEMBER 2026
Efficacy and Side Effects Are Patients’ Top Unmet Needs, and Most Would Take an Rx if Their Doctor Recommended It 39 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 | T3B = % rating 5–7; T2B = % rating 6–7 Top Unmet Needs % of patients rating at least one need in each area 5-7 out of 7 (efficacy: faster, lasting or better results; side effects: overall, sexual, cardiac, body hair); T2B (6-7) in gray 71% 68% 57% Efficacy Side effects Affordability Single Most Important Factor in a New Treatment % of patients, select one 53% Effectiveness 79% are open to considering an Rx treatment for PHL if their doctor recommended it T3B (5-7 out of 7) T2B (6-7) 59% Asked before patients saw the VDPHL01 profile T2B 54% T2B 50% T2B 41% All Patients Not Currently on Rx Treatment (n=311) NOVEMBER 2026
40 Patients Then Reviewed a Blinded Profile of VDPHL01 Based on the Study ‘302’ and ‘304’ Results NOVEMBER 2026
After Seeing the VDPHL01 Profile, 83% of Patients Would Talk to Their Doctor About It, a Sentiment Consistent Across All Three Segments 41 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 | T3B = % rating 5–7; T2B = % rating 6–7 Likelihood to Talk to a Doctor About VDPHL01 % of patients rating 5-7 out of 7; T2B (6-7) in gray of patients are likely to talk to their doctor about VDPHL01, based on blinded product profile 83% T2B 59% Likelihood to Talk to a Doctor, by Segment % rating 5-7 out of 7; T2B (6-7) in gray Current OTC only n=101 87% T2B 65% Previously treated n=103 89% T2B 64% Never treated n=107 74% T2B 50% 79% of all patients would take a next step after seeing the profile, including 41% who would book a doctor or telehealth visit All Patients Not Currently on Rx Treatment (n=311) NOVEMBER 2026
42 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 | C13 bases vary by unmet need (n=214–238) | T3B = % rating 5–7; T2B = % rating 6–7 Top Unmet Needs VDPHL01 Is Expected to Address % rating 5-7 out of 7 (1 = does not address, 7 = completely addresses); top 5 shown Greater overall efficacy T2B 61% 87% No hormonal/sexual side effects T2B 63% 86% Quicker hair growth results T2B 60% 85% No cardiac side effects T2B 64% 85% Efficacy Safety All Patients Not Currently on Rx Treatment (n=311) VDPHL01 Expected to Address the Unmet Needs That Have Kept Patients Out of the Market Fewer, milder side effects T2B 68% 87% NOVEMBER 2026
Nearly 80% See VDPHL01 Profile as Positively Differentiated versus Current Treatment Options 43 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 | T3B = % rating 5–7; T2B = % rating 6–7 Of patients see VDPHL01 as positively differentiated from current treatments Most Differentiated Attributes % of patients rating 5-7 out of 7 88%Efficacy outcomes (T2B 62%) 81%Safety profile (T2B 61%) 81%Oral pill (T2B 63%) OTC Treatments Most Differentiated From % rating 5-7 of 7; T2B (6-7) in gray Nutrafol (n=18; T2B 56%) Topical minoxidil (n=117; T2B 59%) Hair growth supplements (n=100; T2B 49%) 83% 75% 75% 78% 5-7 out of 7 T2B (6-7) 58% All Patients Not Currently on Rx Treatment (n=311) NOVEMBER 2026
FDA Approval Is a Top Driver of Confidence Across Every Segment 44 Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated. | n=311 | T3B = % rating 5–7; T2B = % rating 6–7 | 1 qualitative interview reviewing the full Study 302 results; fielded the weekend before the Monday 302 data release Importance of FDA Approval to Confidence in VDPHL01 % rating FDA approval’s impact on confidence 5-7 out of 7; T2B (6-7) in gray All patients n=311 80% T2B 64% Current OTC only n=101 82% T2B 68% Previously treated n=103 81% T2B 69% Never treated n=107 77% T2B 54% Outside of a physician recommendation, FDA approval is the top driver of confidence in every segment by T3B (tied with patient testimonials among current OTC users) "It's almost a prerequisite that [it] needs to be FDA approved. It's proven and it's tested, if it's FDA approved, I'm assuming it would be safe for use … I would rather pay a little bit more for an FDA approved treatment. And it would probably give me more peace of mind." – Current OTC User All Patients Not Currently on Rx Treatment (n=311) NOVEMBER 2026
45 Strong Willingness to Pay a Premium Price for VDPHL01 versus a Low-cost Generic Driven by Efficacy, Doctor Recommendation, and Oral ROA Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 | T3B = % rating 5–7; T2B = % rating 6–7 Top Attributes Driving Willingness to Pay % saying each increases their willingness to pay the premium price (+1 to +3 out of -3 to +3); follow-up survey, n=66 All Patients Not Currently on Rx Treatment (n=311) 76% Amount of hair regrowth 74% Percentage of patients reporting their hair improved 71% Amount of hair regrowth at the front of the head 70% Recommendation from a doctor 68% Oral pill, not a topical Willingness to Pay a Premium Price for VDPHL01 % rating 5-7 out of 7; T2B (6-7) in gray Compared with a low-cost generic T2B 37% If FSA/HSA eligible T2B 51% Current OTC only (T3B): 61% → 77% | Previously treated: 59% → 72% | Never treated: 46% → 56% 55% 68% NOVEMBER 2026
In Their Own Words: Why Patients See Value “Worth Paying For” in VDPHL01 46 Source: Patient follow-up interviews, 12 qualitative interviews with men with PHL (2 past OTC users, 2 past prescription users, 2 current OTC users, 4 current prescription users, 2 treatment naïve patients) reviewing the full Study 302 results; fielded the weekend before the Monday 302 data release “If they can justify the results, the studies have been done and back up the claims they’re making about [VDPHL01], then I could justify the monthly cost…I think the price point is reasonable.” – Past OTC User “I don’t see the cost being a drawback because it probably could even be less than what I’m paying for now with my Nutrafol and my biotin.” – Current OTC User All Patients Not Currently on Rx Treatment “I’m paying for self- esteem…like me, a lot of people are kind of embarrassed by their hair loss. I have a cousin that’s in the same situation and he wears a hat constantly; that’s kind of embarrassing when you go indoors.” – Never Treated Patient NOVEMBER 2026
Research Suggests VDPHL01 Can Activate Men Not on Rx Today and Grow the PHL Market if Approved 47 Survey data suggest that VDPHL01 will activate a meaningful portion of the male untreated and OTC-treated population if approved 83% of men not on Rx are likely to talk to a doctor about VDPHL01 5-7 out of 7 T2B (6-7): 59%; 29% extremely likely (7) 78% see VDPHL01 as positively differentiated from current PHL treatments 5-7 out of 7 T2B (6-7): 58% 55% → 68% would pay a premium price for VDPHL01 vs. a low-cost generic, rising when FSA/HSA eligible 5-7 out of 7 T2B (6-7): 37% → 51%; only 8% unwilling if FSA/HSA eligible (B2B 1-2) Source: VDPHL01 Nov. RRP patient survey, Oct 30 – Nov 7, 2026 | US men with PHL aged 18–65, not on Rx: 101 current OTC-only, 103 previously treated, 107 never treated | n=311 | T3B = % rating 5–7; T2B = % rating 6–7 All Patients Not Currently on Rx Treatment (n=311) NOVEMBER 2026
48 New Market Research Study: Blinded Full Study 302 Topline Results with HCPs and Patients NOVEMBER 2026
Full 302 Profile Reinforces HCP Conviction: 12-Month Data Supports Long- Term Potential and All HCPs Will Recommend VDPHL01 if Approved 49 Source: 10 qualitative interviews with HCPs (4 Derms, 3 Derm PAs, 1 PCP, 2 PCP NPPAs) reviewing the blinded full Study 302 results; fielded the weekend before the Monday 302 data release. MAINTAINED EFFICACY – Dermatologist LONGER TERM SAFETY VDPHL01 ADOPTION “it’s both durability and efficacy… If it’s that much more effective at 12 months [than] 6 months, then just give me the 12-month data” Durable 12-Month Gains “The no cardiac events, especially like the once-a-day dosing, was fantastic, and the fact that there were no discontinuations due to side effects is spectacular.” Side Effect Profile Impresses “The product’s amazing… very likely, very, very likely [to recommend]. It would be one of the first things I would suggest.” A First-Choice Option – Dermatology PA – Dermatologist 10 of 10 HCPs viewed the 12-month data as a positive addition to 6-month data and half of HCPs viewed 12-month data as more important 7 of 10 HCPs unaidedly highlighted side effect profile as a standout product element 10 of 10 HCPs would recommend prescribing VDPHL01 to at least one patient not on prescription treatment HCP Interviews (n=10) NOVEMBER 2026
The Full 302 Profile Gave Patients Hope For a Treatment That Will Work 50 Source: 12 qualitative interviews with men with PHL (2 past OTC users, 2 past prescription users, 2 current OTC users, 4 current prescription users, 2 treatment naïve patients) reviewing the blinded full Study 302 results; fielded the weekend before the Monday 302 data release PATIENT PREFERENCE – Past OTC User IMPACT OF FDA APPROVAL NO TRADEOFFS “I feel [VDPHL01] has more data to back up the results, whereas other products just tended to push a lot of things in terms of what it helped with, or promised results, but it wasn’t easy to find this kind of data to really help back things up as far as being a credible option... [VDPHL01] seems like quite a jump compared to other treatments I’ve seen advertised.” More Credible and Efficacious “I would say it puts [VDPHL01] in another category because it has the FDA approval. I think that approval means something… it went through the actual testing, the rigorous testing to get this marked FDA approved. It leads you to believe that you have more faith in [an FDA approved] product than the others.” VDPHL01 Is Set Apart “The photo evidence was impressive, even including the photo showing hair growth in the front… The cost is reasonable, side effects are minimal, and it's a drug that's already been used in the past… in a different form, so there’s some comfort about safety as well.” The Whole Package – Current Rx User – Current Rx User Patient Interviews (n=12) NOVEMBER 2026
The Full Study 302 Profile Strengthened HCP Conviction and Gave Patients Confidence in VDPHL01 as a Treatment Option if Approved 51 Source: Qualitative interviews with HCPs (n=10) and patients (n=12) reviewing the full Study 302 results fielded the weekend before the Monday 302 data release WHAT WE HEARD FROM HCPs (n=10) Durable response through 12 months All HCPs view the 12-month data as a positive addition to the 6- month data; with the combination of speed-to-results and long- term durability promoting HCP interest Reassuring long-term safety Strong safety profile addresses concerns driven by current treatment tolerability concerns, barriers to prescription use, and reasons for discontinuation Anticipated broad recommendation All HCPs express intent to recommend VDPHL01 across all patient types WHAT WE HEARD FROM PATIENTS (n=12) Highly differentiated profile Efficacy highlighted through photo evidence and hair count drives patient view of VDPHL01 as a go-to treatment choice for PHL FDA approval would drive confidence Scientific evidence from clinical trials builds believability and enthusiasm for hair growth outlook Results worth paying for Patients expressed no hesitations or reservations at price point HCP (n=10) and Patient (n=12) Interviews NOVEMBER 2026
Concluding Remarks 52NOVEMBER 2026
Studies ‘302’ and ‘304’ demonstrated potential to address the core of patient and physician unmet needs 53 PROFILE ATTRIBUTE STUDY ‘302’ (Part A & Part B) STUDY ‘304’ (Part A) Meaningful, visible improvement✓ Robust clinical efficacy Up to +43.9 hairs/cm2 increase in non-vellus hair count, 68% of patients “improved” or “much improved” on PRO at Month 12 Robust clinical efficacy Up to +36.4 hairs/cm2 increase in non-vellus hair count, 69% of patients “improved” or “much improved” on PRO at Month 6 Predictable treatment journey✓ Rapid onset and consistent response Up to +35.9 hairs/cm2 increase in non-vellus hair count and PRO separated from placebo as early as Month 2; up to 89% of patients reported improvement at Month 12 Rapid onset and consistent response TAHC and PRO separated from placebo as early as Month 2; up to 85% of patients reported improvement at Month 6 Confidence for long-term use✓ Safety and tolerability Phase 3 studies reported no treatment-related SAEs; no AESIs of cardiac origin; AE-related discontinuation rates favorable vs. existing oral PHL therapies Simple to prescribe and manage✓ Oral administration + low rates of discontinuation Preferred administration method and improved potential for adherence give physicians a potential solution to proactively recommend to patients Robust, clinically relevant evidence✓ Well-characterized safety and efficacy at 6 months across 1000+ patients Studies ‘302’ and ‘304’ have evaluated VDPHL01 in 1055 males across 89 U.S. sites Clinical profile is anticipated to drive patients actively treating PHL to add/switch to VDPHL01 and catalyze non-treating patients to seek Rx treatment options NOVEMBER 2026 Data on File. Veradermics, Inc.
