Veradermics Reports Fourth Quarter and Full Year 2025 Financial Results and Highlights Recent Corporate and Clinical Updates (Form 8-K)

Veradermics Reports Fourth Quarter and Full Year 2025 Financial Results and Highlights Recent Corporate and Clinical Updates

Enrollment completed in two pivotal trials of VDPHL01 in male patients; topline data expected from Study 302 in 1H 2026 and Study 304 confirmatory trial in 2H 2026

Enrollment on-track in Study 306, the first-ever Phase 2/3 trial of an oral treatment specifically for female pattern hair loss

Mark Neumann, seasoned biopharmaceutical commercial leader with more than 30 years of experience launching and scaling blockbuster therapies, appointed Chief Commercial and Strategy Officer

Upsized IPO of $294.8 million closed in February 2026; pro forma cash, cash equivalents and marketable securities expected to fund planned operations into 2029, through multiple anticipated Phase 3 readouts and the anticipated launch of VDPHL01, if approved

NEW HAVEN, Conn - Mar. 30, 2026 - Veradermics, Incorporated (NYSE: MANE), a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics for common aesthetic and dermatological conditions, today reported financial results for the fourth quarter and full year periods ended December 31, 2025, and announced recent corporate and clinical updates.

"2025 was a landmark year for Veradermics, marked by significant progress in advancing Phase 3 development of VDPHL01, and our momentum has continued into 2026 with our debut as a public company following the successful completion of our IPO," said Reid Waldman, M.D., Chief Executive Officer of Veradermics. "This year, we expect two Phase 3 readouts in men and to continue to make progress toward a planned NDA submission, while also advancing the first-ever Phase 3 trial of an oral treatment for female pattern hair loss. Backed by a strong balance sheet, we are focused on executing with urgency for the men and women who have waited far too long for new treatment options for pattern hair loss."

Recent Business Highlights and 2026 Anticipated Milestones

VDPHL01 Registrational Program for Men and Women with Pattern Hair Loss ("PHL")

•Enrollment Completed in Study 302, the First of Three Registration-directed Trials of VDPHL01 in Patients with PHL. Study 302 is a four-arm, multicenter, randomized, double-blinded, placebo-controlled, Phase 2/3 clinical trial evaluating the safety and efficacy of VDPHL01 8.5 mg in male patients with mild-to-moderate PHL. Veradermics announced completed enrollment in Study 302 in December 2025, and topline data are expected in the first half of 2026.

•Enrollment Completed in Study 304: In February 2026, Veradermics announced completion of enrollment in Study 304, a confirmatory Phase 3 trial evaluating VDPHL01 for the treatment of male PHL. Study 304 is a four-arm, multicenter, randomized, double-blinded, placebo-controlled, Phase 3 clinical trial investigating the safety and efficacy of VDPHL01 in male patients with mild-to-moderate PHL. Across Study 302 and Study 304, more than 1,000 male participants received VDPHL01 or placebo in the clinical trials, representing one of the largest registration-directed programs conducted to date in PHL. Topline data from Study 304 are expected in the second half of 2026.

•Enrollment Ongoing in Study 306 in Females with PHL: Veradermics is enrolling female patients into Study 306, a four-arm, multicenter, randomized, double-blinded, placebo-controlled Phase 2/3 clinical trial of VDPHL01 for female PHL. VDPHL01 is the first non-hormonal oral therapy studied in a registrational-directed trial specifically for women with PHL. Study 306 is expected to enroll more than 500 female patients in the United States.

Corporate

•Upsized IPO Raising ~$295M Completed: Veradermics closed its upsized initial public offering (IPO) in February 2026, and the company raised gross proceeds of approximately $294.8 million, before deducting underwriting discounts and commissions and other offering expenses. The net proceeds from the offering together with the company's current cash, cash equivalents and marketable securities are expected to support Veradermics' current operating plans into 2029, which includes multiple anticipated Phase 3 readouts and the anticipated commercial launch of VDPHL01, if approved.

•Mark Neumann Appointed as Chief Commercial and Strategy Officer: In December 2025, Veradermics appointed Mark Neumann as Chief Commercial and Strategy Officer. Mr. Neumann has more than three decades of biopharmaceutical commercial leadership. He most recently served as Executive Vice President and Chief Commercial Officer of Intra-Cellular Therapies, where he built the company's commercial organization and led the successful launch and commercialization of CAPLYTA®, contributing to Intra-Cellular's $14.6 billion acquisition by Johnson & Johnson in 2025. Previously, Mr. Neumann held senior leadership roles at Amgen, overseeing global franchise strategy and commercialization planning across multiple therapeutic areas and leading the launch of Amgen's first ever U.S. cardiovascular business unit with REPATHA. Earlier in his career, he held senior level U.S. and international commercial roles at Bristol-Myers Squibb, including serving as global brand lead for ELIQUIS, leading sales and marketing for ABILIFY, and leading national marketing efforts for cardiovascular products including PLAVIX and PRAVACHOL.

Fourth Quarter and Full Year 2025 Financial Results

•Cash Position: Cash, cash equivalents, and marketable securities totaled $141.9 million as of December 31, 2025. Subsequent to December 31, 2025, we completed our IPO, in

which the company raised gross proceeds of approximately $294.8 million, before deducting underwriting discounts and commissions and other offering expenses. Veradermics expects its current cash, cash equivalents, and marketable securities to support its current operating plans into 2029.

•R&D Expenses: Research and development (R&D) expenses were $62.1 million and $18.2 million for the year and quarter ended December 31, 2025, respectively, as compared with $23.3 million and $5.0 million for the year and quarter ended December 31, 2024, respectively. The increase in R&D expenses of $38.8 million and $13.2 million for the year and quarter, respectively, were primarily due to increases in clinical development and other development expenses of VDPHL01 and an increase in R&D related headcount as compared to the same periods in the prior year.

•G&A Expenses: General and administrative (G&A) expenses were $10.3 million and $4.8 million for the year and quarter ended December 31, 2025, respectively, as compared with $3.5 million and $1.0 million for the year and quarter ended December 31, 2024, respectively. The increase in G&A expenses of $6.8 million and $3.8 million for the year and quarter, respectively, were primarily due to an increase in payroll and personnel-related costs, including stock-based compensation, as a result of an increase in general and administrative expenses related to headcount and other professional fees.

•Net Loss: Net loss was $21.8 million for the fourth quarter of 2025, compared to a net loss of $5.7 million for the fourth quarter of 2024. Net loss was $70.0 million for the full year ended December 31, 2025, compared to $26.5 million for the full year ended December 31, 2024.

About VDPHL01

VDPHL01 (extended-release minoxidil tablet) is an investigational, orally available non-hormonal drug in Phase 3 development for PHL in both women and men. VDPHL01 leverages extended-release technology designed 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 PHL 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 Veradermics, Inc.

Veradermics is a dermatologist-founded, late clinical-stage biopharmaceutical company focused on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent aesthetic and dermatological conditions. 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 PHL, to reduce the barriers to wide adoption of chronic hair loss therapy and

potentially transform PHL 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.