Earnings ·
Veradermics reports Q3 net loss of $21.0M on $16.1M R&D expenses
MANEVeradermics, Inc
Veradermics reported a third-quarter net loss of $21.0 million, compared to $20.1 million in the prior year period. Research and development expenses decreased by $2.0 million to $16.1 million, while general and administrative costs rose sharply by $10.5 million to $12.7 million due to increased personnel costs and commercial readiness activities. The company ended the quarter with $798.4 million in cash, cash equivalents, and marketable securities, which management expects will fund operations through 2030. Veradermics is a late-stage biopharmaceutical company developing VDPHL01, an oral treatment for pattern hair loss.