Veradermics, Inc MANE
We are a dermatologist-founded, late clinical-stage biopharmaceutical company, or the "Company," "we," "us," or "our", focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. Our initial focus is developing better treatments for PHL, a condition affecting approximately 50 million men and 30 million women in the United States. Current PHL treatment options are limited and therefore are consistently plagued with high rates of treatment failure, patient dissatisfaction and treatment discontinuation. Patients and healthcare providers routinely identify the following shortcomings with currently available treatment options:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| R&D | $62.1M | $23.3M | — |
| SG&A | $10.3M | $3.5M | — |
| Total operating expenses | $72.3M | $26.8M | — |
| Operating income | -$72.3M | -$26.8M | — |
| Interest expense | $0 | $585.0K | — |
| Pre-tax income | -$70.0M | -$26.5M | — |
| Income tax | $0 | $0 | — |
| Net income | -$70.0M | -$26.5M | — |
| EPS, basic | -111.91 | -37.05 | — |
| EPS, diluted | -111.91 | -37.05 | — |
| Shares, diluted (wtd. avg.) | $745.0K | $736.9K | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Cash and equivalents | $21.8M | $53.1M | $16.3M |
| Short-term investments | $120.1M | $0 | — |
| Total current assets | $152.5M | $55.5M | — |
| Property, plant and equipment | $22.0K | $0 | — |
| Total assets | $152.6M | $55.5M | — |
| Accounts payable | $2.1M | $2.2M | — |
| Total current liabilities | $9.2M | $4.7M | — |
| Total liabilities | $9.2M | $4.7M | — |
| Retained earnings | -$123.4M | -$49.2M | — |
| Total equity | -$121.0M | -$48.5M | -$22.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Operating cash flow | -$71.6M | -$23.7M | — |
| Stock-based compensation | $1.4M | $250.0K | — |
| Capital expenditure | $24.0K | $0 | — |
| Investing cash flow | -$118.9M | $0 | — |
| Financing cash flow | $159.1M | $60.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001827635-26-000013.
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