Pattern hair loss affects 50 million men and 30 million women in the US, with no new approved drug since the late 1990s. Veradermics, trading as MANE, has surged nearly 500% since its IPO in February. Jefferies analysts estimate global sales for Cosmo’s male hair-loss therapy could reach $3 billion. Cosmo plans to submit a new drug application to US regulators in the first quarter of 2027. Like GLP-1 weight-loss drugs, Wall Street is betting on a massive market of consumers willing to pay out-of-pocket for better treatment options.
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