Deerfield exits MANE ahead of key VDPHL01 readouts. Deerfield fully liquidated its ~5,000-share position in Veradermics ($316K exit) despite a dense catalyst runway — including a Phase 3 readout for VDPHL01 in androgenetic alopecia due as early as February 2026 and additional Phase 2/3 readouts through mid-2027. The exit is a notable negative signal given Deerfield's healthcare expertise, though low conviction at the outset (small position size) may limit the read-through.

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2 quarters

Position Trend

May 15, 2026

$31.9M

2 funds

Aug 14, 2026

$245.9M

1 fund

+671% total institutional value over 2 quarters

Short Interest

Short Shares

4.01M

Change

+1.9%

Days to Cover

4.8

% of Float

14.7%

Settlement

Aug 14, 2026

Short interest over 11 periods

Catalysts

Phase 2Q1 2025VDMN-21 Patch Low DoseVerruca Vulgaris, Warts, Common WartNCT05799157

Phase 3Q1 2026VDPHL01Androgenetic Alopecia, AGA, Male Pattern BaldnessNCT06724614

Phase 2Q3 2026VDPHL01Androgenetic Alopecia, AGA, Male Pattern BaldnessNCT06527365

Phase 3Q4 2026VDPHL01Androgenetic Alopecia, AGA, Male Pattern BaldnessNCT06972264

Phase 3Q2 2027VDPHL01 QDAndrogenetic Alopecia (AGA), Androgenetic Alopecia, AGANCT07146022

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Position Details

Deep Track CapitalINCREASEDAug 14, 2026

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Research Links

Yahoo Finance →SEC EDGAR →ClinicalTrials.gov →

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