Veradermics, Incorporated (MANE.N): KOL and CEO call takeaways: Female pattern hair loss an underappreciated opportunity

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Veradermics, Incorporated (MANE.N): KOL and CEO call takeaways: Female pattern hair loss an underappreciated opportunity

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25 Jun 2026 05:00:00 ET │ 11 pages

Veradermics, Incorporated (MANE.N)

KOL and CEO call takeaways: Female pattern hair loss an

underappreciated opportunity

CITI’S TAKE Buy / High Risk

Yesterday, we hosted Veradermics CEO Dr. Reid Waldman, MD, and Dr. Price (24 Jun 26 12:55) US$114.57

Goli Compoginis, Director of the Hair Loss and Hair Disorders Clinic and Target price US$135.00

USC’s Keck School of Medicine for a conversation (replay here) on

Expected share price return 17.8% VDPHL01’s female hair loss opportunity. Indeed, Street focus has centered

on the male market (risk-adjusted Citi 2035e: $3B), though we think Expected dividend yield 0.0%

underappreciated upside sits in females (opportunity analysis here; phase Expected total return 17.8%

2 data YE26), where unmet need is large and women comprise ~70% of Market Cap US$4,787M

the KOL’s hair loss practice. The treatment journey remains frustrating:

topical minoxidil is hard to use, nutraceuticals are costly with limited

perceived efficacy, and generic IR oral minoxidil is already widely chosen

off-label despite not being approved for hair loss treatment. That makes Geoff Meacham, Ph.D.AC

conversion to an FDA approved, female-specific option straightforward, +1-404-443-4701

particularly given VDPHL01’s tailored PK/safety profile designed to avoid geoffrey.meacham@citi.com

cardiac side effects that matter more to women. Maintain Buy/HR and Jarwei Fang

$135 TP. +1-212-816-5127

jarwei.fang@citi.com

Female pattern hair loss looks underappreciated — Female hair loss demand has Nishant Gandhi, Ph.D.

expanded meaningfully since COVID, and women now represent ~70% of the KOL nishant.gandhi@citi.com