This Fund Has a $75 Million Bet on a Hair Loss Biotech Stock Up More Than 500% Post-IPO
Key Points
Siren initiated a new position by acquiring 1,505,374 shares of Veradermics; the estimated transaction value is $75.94 million based on quarterly average pricing.
The quarter-end value of the position increased by $95.06 million, reflecting both share accumulation and price movement.
The transaction represents 2.11% of the fund’s 13F reportable assets under management.
- 10 stocks we like better than Veradermics ›
On May 14, 2026, Siren disclosed a new position in Veradermics (NYSE:MANE), acquiring 1,505,374 shares in an estimated $75.94 million trade based on quarterly average pricing.
What happened
According to a filing with the Securities and Exchange Commission dated May 14, 2026, Siren established a new position in Veradermics by acquiring 1,505,374 shares. The estimated transaction value was $75.94 million, calculated using the mean unadjusted closing price for the first quarter of 2026. The quarter-end value of the stake stood at $95.06 million, reflecting both the share purchase and subsequent price movement.
What else to know
- Top holdings after the filing:
- NASDAQ:SRRK: $532.16 million (14.8% of AUM)
- NASDAQ:KYMR: $265.43 million (7.4% of AUM)
- NASDAQ:ERAS: $181.93 million (5.0% of AUM)
- NASDAQ:EWTX: $139.55 million (3.9% of AUM)
- NASDAQ:ONC: $138.09 million (3.8% of AUM)
- As of May 13, 2026, shares of Veradermics were priced at $107.14, up over 500% from their February IPO price of $17.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close May 14, 2026) | $107.14 |
| Market capitalization | $4.43 billion |
| Net income (TTM) | ($70 million) |
Company snapshot
- Veradermics develops therapeutics for dermatologic and aesthetic conditions, including oral treatments for pattern hair loss, dissolvable microarray patches for immunotherapy of warts, and therapies for alopecia areata and molluscum contagiosum.
- The firm operates a research-driven biopharmaceutical model, generating potential revenue from proprietary drug candidates targeting both adult and pediatric dermatology markets.
- It serves healthcare providers, clinicians, and medical researchers specializing in dermatology and aesthetic medicine.
Veradermics is a biotechnology company focused on innovative therapies for dermatologic and aesthetic disorders. The company develops treatments that target both adult and pediatric dermatology. Its pipeline of novel treatments positions Veradermics to compete in specialized segments of the healthcare market.
What this transaction means for investors
Veradermics stock has exploded since going public in February, and Siren’s willingness to initiate such a large position suggests investors increasingly believe the company’s lead hair loss treatment could evolve into a meaningful mass-market product.
The enthusiasm stems in part from recently released Phase 2/3 data for VDPHL01, an oral extended-release minoxidil treatment for pattern hair loss. Veradermics said the study showed “early, consistent, and robust” hair growth alongside safety results comparable to placebo. Management believes the drug could become the first FDA-approved oral treatment for pattern hair loss in nearly 30 years.
Veradermics raised roughly $766.8 million this year through its IPO and follow-on financing activities, with management expecting existing capital to fund operations into 2030. More Phase 3 data are expected later this year from trials involving more than 1,000 male patients.
Ultimately, Veradermics sits in a compelling market for investors. The risk, of course, is that the stock’s massive post-IPO rally already reflects a substantial amount of optimism before pivotal data fully comes to fruition.
Should you buy stock in Veradermics right now?
Before you buy stock in Veradermics, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Veradermics wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $472,205!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,384,459!*
Now, it’s worth noting Stock Advisor’s total average return is 999% — a market-crushing outperformance compared to 208% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of May 14, 2026.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BeOne Medicines Ag. The Motley Fool recommends Kymera Therapeutics. The Motley Fool has a disclosure policy.
Recommended Articles
