Veradermics priced an upsized $256.3 million IPO to finance three pivotal trials of VDPHL-01, an oral formulation of minoxidil for pattern hair loss. The company said the proceeds will support ongoing phase II/III studies and broader commercialization planning for a therapy designed to reduce cardiovascular risks tied to systemic minoxidil exposure. The debut underscores investor willingness to back specialty dermatology programs with clear regulatory paths and near-term pivotal readouts. Veradermics framed the offering as a way to accelerate clinical work while preparing for post-approval manufacturing and market access strategies. Investors will watch early pivotal data and safety readouts closely; a successful set of trials could validate oral formulations of established topical agents as a commercial category and influence deals in the aesthetic and dermatology space.