Wall Street Hedge Funds Accumulate Hundreds of Millions in NYSE Hair Loss Drug Biotech Stocks

Between February 4 and 6, Suvretta Capital acquired approximately 310,000 additional common shares of the publicly traded hair-loss drug developer on the open market, investing about $12 million (₩16 billion). As a result, Suvretta’s indirect holdings—via two Averill funds—now total roughly four million shares, with a market value of about $150 million (₩2 trillion), significantly expanding its institutional stake in the newly listed company. SR One Capital and Longitude Capital have also disclosed positions of approximately 6 percent and 12 percent, respectively, confirming that major venture and specialist investors hold substantial early equity.

The company completed its New York Stock Exchange listing on February 5, raising about $294.8 million (₩400 billion) in the offering—including full exercise of the underwriter option—and saw its share price more than double over the $17 IPO price on the first trading day. On February 9, it announced the registration of the second Phase 3 trial of VDPHL01, its lead oral minoxidil candidate for male pattern baldness, accelerating its late-stage clinical development alongside IPO proceeds.

Veradermics, Inc. (NYSE: MANE), headquartered in New Haven, Connecticut, is a dermatology and aesthetic-focused biotech developing oral non-hormonal hair-loss treatment VDPHL01 and other therapies targeting high-frequency dermatology and cosmetic conditions. Following its NYSE debut, the company is concentrating its newly raised funds on late-stage clinical trials and preparations for commercial launch of its hair-loss therapy.