Hair Restoration Firm Veradermics Jumps 122% In Trading Debut

Shares of hair-restoration drug developer Veradermics Inc. soared 122% in the company’s trading debut after it raised $256.3 million in an initial public offering.

The Longitude Capital-backed company’s stock closed at $37.75 per share on Wednesday, versus its IPO price of $17 apiece. Veradermics sold about 15 million shares after marketing them for $14 to $16 each. The IPO was double-digits oversubscribed for the upsized offering, according to people familiar with the matter.