Veradermics, Incorporated (MANE) Balance Sheet
MANE balance sheet, 2025
December 31, 2025 · U.S. dollars$152.6M assets = $273.6M liabilities + −$121.0M equity
Liabilities exceed assets: shareholders’ equity is negative (−$121.0M).
Both columns are drawn to the same scale: what MANE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MANE financial health
Descriptive bands, not a rating. Fiscal 2025.
MANE balance sheet trends, 2023–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $18.5M2023 | $152.6M2025 | +187.6%/yr | |
| Total liabilities | $3.8M2023 | $273.6M2025 | +744.4%/yr | |
| Shareholders’ equity | $14.6M2023 | −$121.0M2025 | — | |
| Cash & short-term investments | $16.3M2023 | $141.9M2025 | +195.0%/yr | |
| Total debt | $786,0002023 | $4,0002025 | −92.9%/yr | |
| Net cash (debt) | $15.5M2023 | $141.9M2025 | +$126.3M | |
| Working capital | $14.5M2023 | $143.3M2025 | +$128.8M | |
| Book value per share | $0.072023 | −$3.452025 | — | |
| Shares outstanding | 201.3M2023 | 35.1M2025 | −58.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MANE assets
MANE liabilities and equity
MANE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MANE balance sheet
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $141.9M | $53.1M | $16.3M |
| Cash & equivalents | $21.8M | $53.1M | $16.3M |
| Short-term investments | $120.1M | $0 | — |
| Receivables | $1.3M | $1.4M | $0 |
| Inventory | $0 | $0 | $0 |
| Other current assets | $9.4M | $1.1M | $1.3M |
| Total current assets | $152.5M | $55.5M | $17.6M |
| Property, plant & equipment (net) | $125,000 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 |
| Other non-current assets | $0 | $3.8M | $894,000 |
| Total assets | $152.6M | $59.4M | $18.5M |
| Liabilities | |||
| Accounts payable | $2.1M | $2.2M | $1.9M |
| Total current liabilities | $9.2M | $4.7M | $3.1M |
| Long-term debt | $0 | $0 | $786,000 |
| Lease obligations | $4,000 | $0 | — |
| Other long-term liabilities | $264.5M | $99.3M | $0 |
| Total liabilities | $273.6M | $4.7M | $3.8M |
| Shareholders' equity | |||
| Common stock & paid-in capital | $1,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$123.4M | −$49.2M | −$22.7M |
| Accumulated other comprehensive income | $60,000 | — | — |
| Total shareholders' equity | −$121.0M | $54.7M | $14.6M |
| Key figures | |||
| Total debt | $4,000 | — | $786,000 |
| Net cash (debt) | $141.9M | — | $15.5M |
| Working capital | $143.3M | $50.8M | $14.5M |
| Tangible book value | −$121.0M | $54.7M | $14.6M |
| Book value per share | −$3.45 | $0.27 | $0.07 |
| Shares outstanding | 35.1M | 201.3M | 201.3M |
| Current ratio | 16.66 | 11.77 | 5.75 |
| Quick ratio | 15.64 | 11.54 | 5.34 |
| Debt / equity | — | — | 0.05 |
| Equity / assets | −79.3% | 92.1% | 79.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Dec '24 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $819.9M | $390.8M | $141.9M | $15.1M | $53.1M |
| Cash & equivalents | $319.3M | $168.4M | $21.8M | $5.7M | $53.1M |
| Short-term investments | $500.6M | $222.4M | $120.1M | $9.5M | $0 |
| Receivables | $0 | $1.7M | $1.3M | $1.2M | $1.4M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $4.9M | $4.6M | $9.4M | $2.3M | $1.1M |
| Total current assets | $824.7M | $397.1M | $152.5M | $18.7M | $55.5M |
| Property, plant & equipment (net) | $989,000 | $21,000 | $125,000 | $84,000 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $1.5M | $0 | $0 | $3.8M |
| Total assets | $825.7M | $398.6M | $152.6M | $18.8M | $59.4M |
| Liabilities | |||||
| Accounts payable | $5.9M | $1.1M | $2.1M | $2.0M | $2.2M |
| Total current liabilities | $11.7M | $6.7M | $9.2M | $5.7M | $4.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $428,000 | $0 | $4,000 | $16,000 | $0 |
| Other long-term liabilities | $428,000 | $0 | $264.5M | $109.1M | $99.3M |
| Total liabilities | $12.1M | $6.7M | $273.6M | $114.8M | $4.7M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$174.2M | −$150.7M | −$123.4M | −$97.4M | −$49.2M |
| Accumulated other comprehensive income | −$1.5M | −$524,000 | $60,000 | — | — |
| Total shareholders' equity | $813.6M | $391.9M | −$121.0M | −$96.0M | $54.7M |
| Key figures | |||||
| Total debt | $428,000 | — | $4,000 | $16,000 | — |
| Net cash (debt) | $819.5M | — | $141.9M | $15.1M | — |
| Working capital | $813.1M | $390.4M | $143.3M | $13.0M | $50.8M |
| Tangible book value | $813.6M | $391.9M | −$121.0M | −$96.0M | $54.7M |
| Book value per share | $20.12 | $10.49 | −$3.24 | −$2.74 | $0.27 |
| Shares outstanding | 40.4M | 37.3M | 37.3M | 35.1M | 201.3M |
| Current ratio | 70.53 | 59.12 | 16.66 | 3.29 | 11.77 |
| Quick ratio | 70.11 | 58.43 | 15.64 | 2.88 | 11.54 |
| Debt / equity | 0.00 | — | — | — | — |
| Equity / assets | 98.5% | 98.3% | −79.3% | −510.8% | 92.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
MANE financial position
At the end of fiscal 2025 (December 31, 2025), Veradermics had total assets of $152.6 million (up 157.0% from a year earlier), total liabilities of $273.6 million and shareholders' equity of -$121.0 million. It held $141.9 million in cash and short-term investments against $0.0 million of debt, a net cash position of $141.9 million. Its current ratio was 16.66. In the latest quarter (ended June 30, 2026) total assets were $825.7 million and equity $813.6 million.
Related: MANE income statement, MANE cash flow statement, MANE key metrics. See the MANE stock overview for the latest quote and news.
MANE balance sheet FAQ
What are Veradermics's total assets?
Veradermics reported total assets of $152.6 million at the end of fiscal 2025 (December 31, 2025), compared with $59.4 million a year earlier.
How much debt does Veradermics have?
Veradermics had $0.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Veradermics have?
Veradermics held $141.9 million in cash and short-term investments at the end of fiscal 2025; with $0.0 million of debt that is net cash of $141.9 million.
What is Veradermics's book value?
Veradermics's shareholders' equity (book value) was -$121.0 million at the end of fiscal 2025, or −$3.45 per share.
What is Veradermics's current ratio?
Veradermics had current assets of $152.5 million and current liabilities of $9.2 million, a current ratio of 16.66 (it can cover its short-term obligations).