Veradermics and Eikon Therapeutics have both announced plans to go public, signaling renewed activity in the biotech IPO market after a period of reduced offerings. The companies aim to list on the New York Stock Exchange and Nasdaq Global Market, respectively. Neither has disclosed the expected amount to be raised or the timeline for their initial public offerings.
Veradermics intends to use proceeds from its IPO to advance its hair loss treatment, VDPHL01, through regulatory approval and initial commercialization. The company also plans to invest in physician education, brand awareness, supply chain improvements, and commercial infrastructure for the drug. VDPHL01 is described as an extended-release formulation of minoxidil designed to maximize plasma concentrations of the active ingredient. According to Veradermics’ prospectus: “We believe that our efforts mark the first attempt to bring an ER formulation of minoxidil to patients.”
In October 2025, Veradermics secured $150 million in series C funding, which was also allocated toward VDPHL01’s development. The product is currently in late-stage trials.
Eikon Therapeutics will direct most of its IPO funds toward developing EIK1001, a dual agonist targeting toll-like receptors 7 and 8 for melanoma treatment. Additional resources will support EIK1003 for non-small cell lung cancer and other early-stage assets. In June 2023, Eikon raised $106 million in series C funding and subsequently expanded its pipeline through agreements with several biotherapeutic companies. Early last year, Eikon completed a $350.7 million series D round.
These announcements follow Aktis Oncology’s recent move into public markets with a $318 million IPO target and trading under the ticker symbol AKTS.
