Hair Loss Biopharma Firm Veradermics Raises $256 Million in IPO

Veradermics Inc., a biopharmaceutical firm focused on hair restoration, raised $256.3 million in an upsized US initial public offering priced above the top of its marketed range.

The Longitude Capital-backed company sold about 15 million shares at $17 each, according to a statement Tuesday. The New Haven, Connecticut-based firm had marketed 13.35 million shares for $14 to $16 each.

At the IPO price, Veradermics has a market value of about $596 million based on the outstanding shares listed in its filings.

Wellington Management had indicated interest in purchasing as much as $30 million in shares at the IPO ...