Shares of Veradermics (MANE) surged on Wednesday after the company announced positive mid-stage results from its study evaluating its treatment for pattern hair loss in women.

At the time of writing, MANE stock was up more than 17%.

Highlights Of The Study

In the Phase 2 trial for VDPHL01, female subjects who received 4.5 milligrams of the oral minoxidil formulation daily for six months showed an increase in hair count as early as the second month of treatment and experienced no serious risks or cardiac-related events. The treatment was well tolerated by roughly 90% of the candidates.

“Female pattern hair loss has long been underserved with no FDA-approved oral prescription treatment options and limited clinical research,” said Jerry Shapiro, a consultant for the company. “Based on the results of the ‘207’ trial, VDPHL01 is positioned to transform how we treat female pattern hair loss as it moves towards potentially becoming the first and only FDA-approved oral treatment for females.”

Following positive results, B. Riley initiated bullish coverage of the company, saying that the treatment has a "substantially de-risked path" to becoming the first FDA-approved oral pill for pattern hair loss in men in nearly 30 years and the first-ever approved oral therapy in women, according to TheFly.

Next Steps For MANE

The company said VDPHL01 is currently being tested in an extensive program to secure approval for both female and male pattern hair loss. It is actively seeking candidates for its female pattern hair loss Phase 2/3 trial, Study ‘306’, with results to be announced in the first half of next year.

Veradermics is also awaiting late-stage trial results for the same treatment in men, with results anticipated in the second half of this year.

What Retail Thinks About MANE

On Stocktwits, retail sentiment toward MANE stock turned ‘extremely bullish’ from ‘bullish’ over the last 24 hours.

One user on the platform opined that results from larger trials will be important for confirming durability, safety, and the potential commercial opportunity for the treatment in the hair loss market.

Since going public in early February this year, has nearly tripled in value.