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Veradermics, Inc
American pharmaceutical preparations company based in New Haven.
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Last updated Oct 18, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Research and development | $62.1M | $23.3M |
| General and administrative | $10.3M | $3.5M |
| Total operating expenses | $72.3M | $26.8M |
| Loss from operations | -$72.3M | -$26.8M |
| Interest income | $1.6M | $481.0K |
| Other income | $790.0K | $394.0K |
| Interest expense | $0 | -$585.0K |
| Total other income, net | $2.4M | $290.0K |
| Loss before income taxes | -$70.0M | -$26.5M |
| Income tax benefit | $0 | $0 |
| Net loss | -$70.0M | -$26.5M |
| Net loss attributable to common stock, basic | -$83.4M | -$27.3M |
| Net loss attributable to common stock, diluted | -$83.4M | -$27.3M |
| Net loss per share of common stock, basic (in usd per share) | -$111.91 | -$37.05 |
| Net loss per share of common stock, diluted (in usd per share) | -$111.91 | -$37.05 |
| Weighted average common stock outstanding, basic (in shares) | 745.0K shares | 736.9K shares |
| Weighted average common stock outstanding, diluted (in shares) | 745.0K shares | 736.9K shares |
| Net unrealized gains on marketable securities | $60.0K | $0 |
| Total other comprehensive income | $60.0K | $0 |
| Total comprehensive loss | -$69.9M | -$26.5M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2024-11-30 | 2023-12-31 | 2023-03-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $21.8M | $53.1M | |||
| Marketable securities at fair value | $120.1M | $0 | |||
| Prepaid expenses and other current assets | $10.6M | $2.5M | |||
| Total current assets | $152.5M | $55.5M | |||
| Property, plant and equipment, net | $22.0K | $0 | |||
| Right-of-use asset and other long-term assets | $103.0K | $0 | |||
| Total non-current assets | $125.0K | $0 | |||
| Total assets | $152.6M | $55.5M | |||
| Accounts payable | $2.1M | $2.2M | |||
| Accrued expenses | $7.0M | $2.5M | |||
| Other current liabilities and lease liabilities | $47.0K | $0 | |||
| Total current liabilities | $9.2M | $4.7M | |||
| Lease liabilities - non-current | $4.0K | $0 | |||
| Total liabilities | $9.2M | $4.7M | |||
| Subscription receivable | -$1.8M | -$3.8M | -$894.0K | ||
| Common stock, $0.00001 par value, 98,774,582 and 25,500,000 authorized as of December 31, 2024 and 2023, respectively and 7,418,740 shares issued and outstanding | $1.0K | $1.0K | |||
| Additional paid-in capital | $2.3M | $750.0K | |||
| Accumulated other comprehensive income | $60.0K | $0 | |||
| Accumulated deficit | -$123.4M | -$49.2M | |||
| Total stockholders deficit | -$121.0M | -$48.5M | -$22.2M | ||
| Total liabilities, redeemable convertible preferred stock, and stockholders deficit | $152.6M | $55.5M | |||
| Common stock, par value (in usd per share) | $0.00 | $0.00 | |||
| Common stock, authorized (in shares) | 267.5M shares | 98.8M shares | 98.8M shares | 18.0M shares | |
| Common stock, issued (in shares) | 749.8K shares | 736.9K shares | |||
| Common stock, outstanding (in shares) | 749.8K shares | 736.9K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-11-30 | 2023-12-31 | 2023-03-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $21.8M | $53.1M | |||
| Marketable securities at fair value | $120.1M | $0 | |||
| Prepaid expenses and other current assets | $10.6M | $2.5M | |||
| Total current assets | $152.5M | $55.5M | |||
| Property, plant and equipment, net | $22.0K | $0 | |||
| Right-of-use asset and other long-term assets | $103.0K | $0 | |||
| Total non-current assets | $125.0K | $0 | |||
| Total assets | $152.6M | $55.5M | |||
| Accounts payable | $2.1M | $2.2M | |||
| Accrued expenses | $7.0M | $2.5M | |||
| Other current liabilities and lease liabilities | $47.0K | $0 | |||
| Total current liabilities | $9.2M | $4.7M | |||
| Lease liabilities - non-current | $4.0K | $0 | |||
| Total liabilities | $9.2M | $4.7M | |||
| Subscription receivable | -$1.8M | -$3.8M | -$894.0K | ||
| Common stock, $0.00001 par value, 98,774,582 and 25,500,000 authorized as of December 31, 2024 and 2023, respectively and 7,418,740 shares issued and outstanding | $1.0K | $1.0K | |||
| Additional paid-in capital | $2.3M | $750.0K | |||
| Accumulated other comprehensive income | $60.0K | $0 | |||
| Accumulated deficit | -$123.4M | -$49.2M | |||
| Total stockholders deficit | -$121.0M | -$48.5M | -$22.2M | ||
| Total liabilities, redeemable convertible preferred stock, and stockholders deficit | $152.6M | $55.5M | |||
| Common stock, par value (in usd per share) | $0.00 | $0.00 | |||
| Common stock, authorized (in shares) | 267.5M shares | 98.8M shares | 98.8M shares | 18.0M shares | |
| Common stock, issued (in shares) | 749.8K shares | 736.9K shares | |||
| Common stock, outstanding (in shares) | 749.8K shares | 736.9K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$70.0M | -$26.5M |
| Stock-based compensation | $1.4M | $250.0K |
| Research and development expenses paid with convertible and promissory notes | $0 | $234.0K |
| Non-cash research and development services | $2.0M | $1.0M |
| Net accretion of discount/premium on debt securities | -$556.0K | $0 |
| Accrued interest earned | -$647.0K | $0 |
| Other | $43.0K | $573.0K |
| Prepaid expenses and other current assets | -$8.2M | -$1.2M |
| Accounts payable | -$122.0K | $646.0K |
| Accrued expenses | $4.5M | $1.3M |
| Other current liabilities and lease liabilities | -$39.0K | $0 |
| Net cash used in operating activities | -$71.6M | -$23.7M |
| Purchase of property, plant and equipment | -$24.0K | $0 |
| Purchases of marketable securities | -$143.9M | $0 |
| Maturities of marketable securities | $25.0M | $0 |
| Net cash used in investing activities | -$118.9M | $0 |
| Issuance of convertible notes | $0 | $8.5M |
| Payment of promissory note | $0 | -$845.0K |
| Preferred stock issuance costs | -$447.0K | -$283.0K |
| Exercise of stock options | $156.0K | $0 |
| Net cash provided by financing activities | $159.1M | $60.5M |
| Net increase (decrease) in cash and cash equivalents | -$31.3M | $36.8M |
| Cash paid during the year for interest | $0 | $95.0K |
| Cash paid during the year for income taxes | $0 | $0 |
| Right-of-use asset exchanged for lease liabilities | $90.0K | $0 |
| Unrealized gain on debt securities | $60.0K | $0 |
| Modification of Series B preferred stock | -$4.2M | $0 |
| Issuance of Series B preferred stock for contractual research and development services | $0 | $3.0M |
| Issuance of Series B preferred stock as payment for convertible notes | $0 | $10.4M |
| Issuance of convertible note for research and development services | $0 | $1.2M |
| Conversion of other receivable in exchange for research and development services to subscription receivable | $0 | $932.0K |
| Issuance of convertible note for accounts payable | $0 | $250.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Veradermics, Inc, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerReid Alexander Waldman Feb 3, 2026 to now6
- Chief financial officerDominic Gabriel Carrano Feb 3, 2026 to now7
Board members and other officers (10)
- Chief Commercial OfficerMark Neumann Feb 3, 2026 to now8
- Chief Technical OfficerTimothy August Durso Feb 3, 2026 to now9
- Board memberDavid Matthew Friedman Feb 3, 2026 to now10
- Board memberJane M. Grant-Kels Feb 3, 2026 to now11
- Board memberKatarina Pance Feb 3, 2026 to now12
- Board memberPatrick G. Enright Feb 3, 2026 to now13
- Board memberReid Alexander Waldman Feb 3, 2026 to now6
- Board memberVlad Coric Feb 3, 2026 to now14
- Board memberAaron Cowen Feb 9, 2026 to now15
- General counselMichael Greco V. Feb 3, 2026 to now16
Timeline
- Feb 3, 2026New chief executive Reid Alexander Waldman becomes CEO6
Filings
95 filings to the SEC since October 2021: 1 annual reports, 2 quarterly reports, 8 major events, 35 insider forms, 13 large holders, 6 private raises, 30 other. The latest 20:
- Oct 13, 2026SCHEDULE 13G EDGAR
- Sep 3, 20264 EDGAR
- Aug 21, 2026SCHEDULE 13D/A EDGAR
- Aug 21, 20264 EDGAR
- Aug 20, 20263 EDGAR
- Aug 19, 2026144 EDGAR
- Aug 19, 2026144 EDGAR
- Aug 18, 20264 EDGAR
- Aug 18, 20264 EDGAR
- Aug 17, 2026144 EDGAR
- Aug 17, 2026144 EDGAR
- Aug 14, 2026EFFECT EDGAR
- Aug 14, 2026144/A EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 2026424B3 EDGAR
- Aug 14, 2026SCHEDULE 13D/A EDGAR
- Aug 12, 2026144 EDGAR
- Aug 12, 2026144 EDGAR
- Aug 11, 202610-Q EDGAR
- Aug 11, 20268-K EDGAR
The 95 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 13 such filings since October 2021, the latest 10:
- Oct 13, 2026SCHEDULE 13G
- Aug 21, 2026SCHEDULE 13D/A
- Aug 14, 2026SCHEDULE 13D/A
- Aug 6, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G/A
- May 7, 2026SCHEDULE 13G
- May 5, 2026SCHEDULE 13D/A
- May 5, 2026SCHEDULE 13D
- May 5, 2026SCHEDULE 13D/A
- Feb 12, 2026SCHEDULE 13D
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- May 1, 2026Raised $30 million in a private offering of securities Form D: 2 investors so far Form D
- Oct 14, 2025Raised $135 million in a private offering of equity Form D: $150 million offered in all Form D
- Nov 25, 2024Raised $66.6 million in a private offering of equity Form D: $75 million offered in all Form D
- Apr 25, 2023Raised $15 million in a private offering of equity Form D: 16 investors so far Form D
- Sep 22, 2021Raised $22.2 million in a private offering of equity Form D: 41 investors so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Montanova Capital, LLC | 4,168,970 | $512.5M | 10.8% | No change |
| Fmr LLC | 3,204,981 | $394.0M | 0.0% | +1,412,072 |
| SR One Capital Management, LP | 2,401,868 | $295.3M | 28.4% | No change |
| Deep Track Capital, LP | 2,000,000 | $245.9M | 3.6% | +1,500,000 |
| Citadel Advisors LLC | 1,877,775 | $230.9M | 0.1% | +52,103 |
| Siren, L.L.C. | 1,655,374 | $203.5M | 4.1% | +150,000 |
| BlackRock, Inc. | 1,593,791 | $195.9M | 0.0% | +1,311,180 |
| Viking Global Investors LP | 1,561,494 | $192.0M | 0.5% | −129,061 |
| Jpmorgan Chase & Co | 1,165,584 | $144.2M | 0.0% | +189,418 |
| Aberdeen Group plc | 1,096,642 | $134.8M | 0.2% | +41,982 |
| D. E. Shaw & Co., Inc. | 1,013,643 | $124.6M | 0.1% | +879,424 |
| Vanguard Capital Management LLC | 869,212 | $106.9M | 0.0% | +169,567 |
| Maverick Capital Ltd | 789,980 | $97.1M | 0.9% | New |
| Jennison Associates LLC | 748,678 | $92.0M | 0.1% | +606,897 |
| Infinitum Asset Management, LLC | 731,149 | $89.9M | 9.1% | No change |
| UBS Group AG | 670,727 | $82.5M | 0.0% | +323,652 |
| Marshall Wace, Llp | 585,560 | $72.0M | 0.1% | −69,041 |
| Adage Capital Partners Gp, L.l.c. | 549,706 | $67.6M | 0.1% | −550,294 |
| State Street Corp | 544,369 | $66.9M | 0.0% | +469,969 |
| Geode Capital Management, LLC | 508,067 | $62.5M | 0.0% | +329,861 |
| Woodline Partners LP | 501,590 | $61.7M | 0.2% | +944 |
| Bank of New York Mellon Corp | 346,585 | $42.6M | 0.0% | +342,917 |
| Stifel Financial Corp | 294,117 | $36.2M | 0.0% | No change |
| Kalehua Capital Management LLC | 291,390 | $35.8M | 11.4% | +42,816 |
| Emerald Advisers, LLC | 288,370 | $35.5M | 0.8% | +155,834 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 10SEC EDGARDavid Matthew Friedman, Board member
- 11SEC EDGARJane M. Grant-Kels, Board member
- 12SEC EDGARKatarina Pance, Board member
- 13SEC EDGARPatrick G. Enright, Board member
- 14SEC EDGARVlad Coric, Board member
- 15SEC EDGARAaron Cowen, Board member
- 16SEC EDGARMichael Greco V., General counsel