Veradermics has reported topline results from an open-label Phase 2 study evaluating VDPHL01, an extended-release oral formulation of minoxidil, in women with mild-to-moderate pattern hair loss. The company said the findings support continued development of the candidate, which is based on the molecule used in the topical hair regrowth treatment Rogaine, first approved in 1988.
According to Veradermics, if VDPHL01 receives FDA approval, it could become the first oral treatment for female pattern hair loss with a formal U.S. approval. The company said the study results showed what it described as a potentially differentiated clinical profile characterized by a rapid onset of activity, consistent patient responses, increases in hair counts and overall tolerability.
The Phase 2 trial, known as Study ‘207’, enrolled 28 participants. Patients received a 4.5 mg dose of VDPHL01 either once daily or twice daily for six months. At the end of the treatment period, participants in the once-daily group achieved an average vellus hair count of 22.7 hairs per square centimeter, while those in the twice-daily group reached an average of 23.3 hairs per square centimeter.
Patient-reported outcomes also showed improvements. At six months, 88.9% of participants receiving the once-daily regimen and 90% of those receiving the twice-daily regimen rated their hair coverage as either “improved” or “much improved.”
Investigators additionally reported that more than 67% of patients demonstrated hair growth improvements after two months of treatment.
The results drew positive responses from analysts. In a note to clients, Jefferies analysts stated that the hair count figures observed in both treatment groups exceeded their expectations. They described the efficacy as “best in class” for female pattern hair loss.
Citi analysts also commented on the findings, writing that the results strengthened their view that VDPHL01 could address a sizable, underserved female pattern hair loss market where topical adherence is poor, oral minoxidil is widely favored in practice and no FDA-approved oral option currently exists.
At the same time, Citi noted that the study was small and open label, adding that randomized validation remains necessary. Nevertheless, the analysts said the efficacy, patient-reported benefit and efficacy observed in the trial increased their confidence ahead of the next study readout.
Veradermics is actively recruiting participants for Study ‘306’, a Phase 2/3 trial in the same female patient population. Data from that study are expected in the first half of 2027. Citi described the upcoming results as the key validation event for the company and noted that, if successful, the treatment could meaningfully set itself apart from off-label use of immediate-release oral minoxidil.
The company has previously argued that many patients are dissatisfied with topical Rogaine. Analysts also noted this week that off-label oral minoxidil use must often be weighed alongside potential cardiac concerns.
VDPHL01 is being developed for both female and male pattern hair loss. In April, Veradermics reported positive Phase 2/3 results for the candidate in men. Investors responded positively to the latest female study data, with the company’s stock rising more than 14% by late Wednesday morning following the announcement.
Veradermics has reported encouraging Phase 2 clinical trial results for its investigational therapy VDPHL01 in women experiencing pattern hair loss. The study evaluated the treatment’s efficacy, safety, and tolerability, providing valuable insights into its potential as a non-surgical therapeutic option. The latest findings position Veradermics to advance the program toward later-stage clinical development.
Phase 2 Trial Highlights
The Phase 2 study conducted by Veradermics assessed VDPHL01 in women diagnosed with pattern hair loss, a condition that affects millions worldwide. According to the reported results, participants demonstrated meaningful improvements in hair growth measurements while maintaining a favorable safety profile throughout the trial.
The positive data strengthen confidence in Veradermics’ ongoing efforts to develop innovative therapies targeting common hair loss disorders.
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