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Veradermics

MANE on NYSE. Veradermics develops an oral hair-loss drug for men and women. Market value $5.0bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

Nothing stands out yet.

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-1.7%low

For every $100 of what the whole company costs, it produced $-1.72 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$108.96 a share, 240% above its 1-year low

Over the past year the price has ranged from $32.00 to $131.24.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.1
-0.1
202512 monthsto Jun '26
Revenue
n/a
Operating margin
n/a
Debt to equity
n/a
Shares outstanding
0.04bn

Health checks

  • Free cash flow positive0 of 1 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)Not enough data
  • Profit backed by cash (accruals)Not enough data
  • DebtUnknown
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesRoughly flat

Dates

Next results (estimated)
n/a
Last annual report (10-K)
30 March 2026
Next quarterly (estimated, 10-Q)
10 November 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 164 funds in all.

Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

  • Patrick G. Enright
    Passive investor
    at least 11.3%−1.2 pts
    (filed with 5 related holders)
    Since 1 May 2026
    What they said

    The information set forth in Item 4 of the Original Schedule 13D is incorporated herein by reference.

    Read the filing
  • Montanova Capital, LLC
    Passive investor
    at least 8.8%−1.1 pts
    (filed with 3 related holders)
    Since 19 August 2026
  • FMR LLC
    Passive investor
    at least 7.6%
    (filed with 1 related holder)
    Since 30 June 2026
  • Simeon George
    Passive investor
    at least 6.4%
    (filed with 4 related holders)
    Since 5 February 2026
    What they said

    The Funds acquired their respective shares for investment purposes. Depending on market conditions, its continuing evaluation of the business and prospects of the Issuer and other factors, the Funds and other Reporting Persons may dispose of or acquire additional shares of the…

    Read the filing
  • Ott David C.
    Passive investor
    5.8%
    Since 5 February 2026
  • SR One Capital Management, LLC
    Passive investor
    at least 4.9%−1.5 pts
    (filed with 5 related holders)
    Since 12 August 2026
    What they said

    On August 12, 2026, SR One Fund II Aggregator and AMZL sold an aggregate of 321,749 shares of the Common Stock of the Issuer in a privately negotiated transaction (the "Sale"). In the Sale, SR One Fund II Aggregator sold 217,162 shares of Common Stock and AMZL sold 104,587…

    Read the filing
  • Viking Global Investors
    Passive investor
    at least 4.5%−1.3 pts
    (filed with 9 related holders)
    Since 31 March 2026
  • Citadel Advisors LLC
    Passive investor
    at least 4.5%
    (filed with 6 related holders)
    Since 30 April 2026
  • Sold down below 5%
    Since 1 May 2026
    What they said

    The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the…

    Read the filing

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 4 insiders bought $36m of shares on the open market. 4 sold $103m, $12m of it under preset trading plans.

  • MONTANOVA CAPITAL, LLC
    Director
    Sold
    Date
    19 August 2026
    Shares
    750,000
    Price
    $107.25
    Value
    $80m
  • Durso Timothy August
    Chief Technical Officer
    Sold
    under a preset trading plan
    Date
    17 August 2026
    Shares
    43,500
    Price
    $107.82
    Value
    $5m
  • Waldman Reid Alexander
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    17 August 2026
    Shares
    67,500
    Price
    $107.86
    Value
    $7m
  • CHILDS JOHN W
    Director
    Sold
    Date
    12 August 2026
    Shares
    100,000
    Price
    $107.12
    Value
    $11m
  • SUVRETTA CAPITAL MANAGEMENT, LLC
    Director
    Bought
    Date
    6 February 2026
    Shares
    30,521
    Price
    $36.34
    Value
    $1m
  • CHILDS JOHN W
    Director
    Bought
    Date
    5 February 2026
    Shares
    294,117
    Price
    $17.00
    Value
    $5m
  • SUVRETTA CAPITAL MANAGEMENT, LLC
    Director
    Bought
    Date
    5 February 2026
    Shares
    96,200
    Price
    $37.99
    Value
    $4m
  • Coric Vlad
    Director
    Bought
    Date
    5 February 2026
    Shares
    117,646
    Price
    $17.00
    Value
    $2m
  • ENRIGHT PATRICK G
    Director
    Bought
    Date
    5 February 2026
    Shares
    1,075,000
    Price
    $17.00
    Value
    $18m
  • SUVRETTA CAPITAL MANAGEMENT, LLC
    Director
    Bought
    Date
    4 February 2026
    Shares
    155,953
    Price
    $37.05
    Value
    $6m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 30 Mar 2026, plus the 10-Q filed 11 Aug 2026 and 6 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.