aibioVeradermics CEO, technical chief and two large holders sell shares in August
Tickers MANE
Insiders and large holders sold Veradermics stock in August, with a resale prospectus dated August 14 covering selling stockholders. The company receives none of the proceeds from those sales.
Key facts
- Company
- Veradermics, Incorporated (NYSE: MANE)
- News type
- Financings
- Primary source
- SEC EDGAR: Veradermics SCHEDULE 13D/A
Veradermics (NYSE: MANE) insiders and large holders sold stock in August 2026, according to filings with the Securities and Exchange Commission. The chief executive, Reid Waldman, and the chief technical officer, Timothy Durso, each exercised an option and sold shares on August 17. Two funds managed by Montanova Capital sold shares on August 19. A group of SR One funds sold stock in a privately negotiated transaction on August 12.
A resale prospectus dated August 14, 2026 covers up to 16,772,058 common shares held by selling stockholders, plus up to 300,000 shares that can be issued when pre-funded warrants are exercised. The company says it "will not receive any of the proceeds" from the stock sales. The exception is cash it receives if warrant holders pay to exercise, and those warrants carry an exercise price of $0.00001 per share.
The filings
Waldman's Form 4 reports that he exercised an option for 3,452 shares at $12.19 and then sold shares in five transactions at prices from $106.72 to $111.28. He held 170,824 shares afterward. Durso's Form 4 reports a matching option exercise of 3,452 shares at $12.19 and sales at prices from $106.71 to $111.28, leaving him with 78,142 shares. Both forms check the box saying the trades were made under a plan meant to satisfy Rule 10b5-1(c).
The Montanova filing is an amended Schedule 13D with Aaron Cowen, who is the control person and managing member of Montanova Capital. After the sales and a warrant exercise, the Montanova group reported 3,718,970 shares, or 8.8 %. The percentage uses 41,780,136 shares outstanding as of the June 30 quarterly report, plus 300,000 shares from warrants. The SR One amendment reports 2,080,119 shares, or 4.9 %, held by its funds after the August 12 sale. The filings do not give a reason for any of these sales.
The science and the cash
Veradermics calls itself a dermatologist-founded, late clinical-stage company. Its lead candidate, VDPHL01, is an oral extended-release form of minoxidil for pattern hair loss. The 10-K filed in March says the company is dosing patients in three registration-directed trials, two in men and one in women.
The data released so far are small and exploratory. The 10-K says the Phase 1 pharmacokinetic study had no formal sample size calculation for statistical power. The Phase 2 trial is also exploratory, and its endpoints are to be reported as descriptive statistics. The preliminary Phase 2 data announced in October 2025 came from 21 men who had completed four months of treatment. The 10-K says the female cohort, with 22 subjects, started enrolling later and had no similar data yet.
The spending is large. The 10-K reports a net loss of $70.0 million for 2025, up from $26.5 million in 2024, with research and development expense of $62.1 million in 2025 and cash used in operations of $71.6 million. The June 30, 2026 quarterly report shows $319.3 million in cash and cash equivalents and $500.6 million in short-term investments. The insider and holder sales add no cash to that balance.
What comes next
The 10-K expected topline data from the male Phase 2/3 trial in the first half of 2026 and from the male Phase 3 trial in the second half of 2026. This story's sources give no results from either trial, so it cannot say whether that timetable held. The company also started a Phase 2/3 trial targeting 552 women, and its timing depends on how that trial progresses.
The sources name no underwriter, placement agent or financial adviser for these sales. The prospectus says the company is not offering any shares under it, so the sales are by existing holders and not a new raise by Veradermics.