A new version of an old drug is helping men grow back some of their hair

By Jaimy Lee

Veradermics is developing an extended-release version of oral minoxidil

Veradermics is testing an extended-release formulation of oral minoxidil in clinical trials.

A safer and more effective formulation of the most popular hair-loss treatment led to robust hair growth in a clinical trial.

Veradermics is working on an extended-release version of oral minoxidil that is thought to reduce the heart palpitations and low blood pressure that can occur when people take higher doses of a minoxidil pill. Minoxidil has the same ingredient as Rogaine, which is available topically over the counter. It's also often prescribed off-label as a pill, but it can't be taken orally in high doses because of those cardiovascular risks.

This is where Veradermics comes in. On Monday, the company announced the first batch of late-stage data that showed solid results for its extended-release minoxidil pill. Veradermics' stock (MANE) closed 47.6% higher on Monday.

Read our coverage: For the first time in decades, new hair-loss treatments are in the works

The study showed that 86% of patients who took two daily 8.5 milligram doses of VDPHL01 self-reported improvement in hair growth after six months, while 79.3% of participants who took a single 8.5 milligram dose said the same thing. Meanwhile, 35.6% in the placebo group reported hair growth in the Phase 2/3 trial, which is examining the drug's performance in 519 men experiencing mild-to-moderate pattern hair loss.

The highest dose prescribed for oral minoxidil for hair loss is 5 milligrams.

Veradermics also assessed hair count per square centimeter, finding that both dosing regimens increased hair count by at least 30 hairs per square centimeter, compared with 7.3 hairs per square centimeter for the placebo group.

There were no treatment-related adverse events or any related to the heart.

Minoxidil has been approved to treat hypertension for decades. More recently, it's become an off-label success story after doctors realized a side effect of taking the drug was hair growth. It's also sold topically as a foam or cream, though that is less popular for patients because it can be messy.

"Dermatology has been treating hair loss with a drug borrowed from cardiology, in a formulation never intended for our patients, at doses we arrived at informally," Michael Gold, one of the study's investigators and a dermatologist in Nashville, said in a news release. "VDPHL01 is the first oral minoxidil formulation developed specifically for pattern hair loss."'

There is another drug called finasteride that works better than minoxidil but is less commonly used by women because of the risk of birth defects. For men, there are also concerns about erectile dysfunction and decreased sex drive. Several companies are working on new treatments for hair loss, including Cosmo Pharmaceuticals and privately held Pelage Pharmaceuticals.

About 80 million people in the U.S. experience pattern hair loss, often as they get older, and there is a huge market for supplements, creams and shampoos, most of which have little science to back up their claims. At the same time, dermatologists have said patients are increasingly seeking medical care for hair loss, driven perhaps by widespread interest in weight-loss medication.

Much like the emerging market of patients willing to pay cash for GLP-1s, Veradermics has said it expects to take a similar strategy.

Veradermics is already running its second Phase 3 study in men, which is set to read out later this year, and is recruiting women for a Phase 2/3 trial.

Leerink Partners analysts have described VDPHL01 as "a best-in-class product."

Veradermics' stock is up 79.7% since its IPO in February.

-Jaimy Lee

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04-27-26 1631ET