Hair Loss Companies and their Stock Prices

Revised on February 12, 2020. I originally wrote this post in 2018, and it has now been updated.

Hair Loss Companies Stock Price Trend
Hair loss companies and their stock prices.

Almost every week on this blog, at least one person discusses the stock prices of hair loss companies that are publicly traded. I wanted to write this post for many years, but there were some issues that prevented me from doing so:

  • Is it worth covering companies such as Allergan, for whom hair loss related products represent a tiny fraction of overall revenues? i.e., unless they come out with a truly game-changing hair loss cure, their stock price will never be affected significantly by any new minor hair loss treatment product.
  • Does it make sense to include the numerous companies working on alopecia areata (AA) related treatments? The vast majority (over 95 percent) of hair loss patients suffer from androgenetic alopecia (AGA). A condition that is also known as male pattern baldness or female pattern hair loss.
  • What about pharmaceutical companies working on brand name or generic versions of existing products such as Finasteride, Dutasteride and Minoxidil?
  • How about manufacturers of products such as laser hair growth caps, combs and helmet devices? Or even hairpieces, shampoos, concealers and so on.
  • How about companies involved in the manufacturing of hair transplant related tools and devices? Especially hair transplant robots such as ARTAS?

Public Companies Working on Hair Loss Treatments

For the time being, I am only including companies that are of most relevance to our ultimate goal of a hair loss cure. Perhaps I will modify this in future if a company develops a moderately effective hair loss product. Some currently privately-held companies (e.g., Samumed or Dr. Tsuji/RIKEN partner Organ Technologies) will be added to the below list if they go public.

It seems like we regularly see situations where a company makes a big positive announcement about its hair loss product development, only to see little change in its stock price movement. Or sometimes even an unexpected decline in its share price despite the good news. Finance and investing experts among this blog’s readers can try to explain such developments when they occur.

Hair Loss Company Stock Prices

Aclaris Therapeutics (ACRS) — Perhaps of most interest during the past year. 2020 Update: Not true anymore :-( Fast moving relatively new US-based company that is working on both AA and AGA treatments.

Allergan (AGN) — Working on a number of hair loss products such as Bimatoprost and Setipiprant. Hair loss segment accounts for a small portion of overall sales. Headquartered in Dublin, Ireland. 2019 Update: Allergan invested in several other new hair loss companies in 2019.

Cassiopea (SKIN:SW) — Its Breezula (formerly CB-03-01) product is causing some excitement in 2019 per one of my industry contacts.

Conatus (CNAT) — A new entrant in 2020 after its merger with Histogen. However, it seems like Histogen’s male hair loss product trials in Mexico never panned out as expected.

Follicum (FOLLI:SS) — Highly professional Swedish company, with its main area of focus being on its hair regrowth product.

L’Oreal (OR:PA) — World renowned cosmetics leader headquartered in France. They are working on 3D printed hair and grey hair reversal treatments.

PolarityTE (PTE) — Previous ticker was “COOL”. If their skin product succeeds, only a matter of time before this US-based company develops a hair loss product. Extremely fast moving new company with highly experienced and qualified key staff members. 2020 Update: PolarityTE common stock offering. Unfortunately, the stock price plummeted almost 50 percent today after that news.

PureTech Health (PRTC) — Although headquartered in the US, they are listed on the London Stock Exchange. Their hair loss segment is represented by Follica, which has been teasing us for over a decade.

RepliCel (REPCF) — A Canadian company that has been in the news in the hair loss world for a decade. Replicel’s drastically larger Japanese partner Shiseido (see below) is of much more interest to us when it comes to a hair loss treatment. However, for speculators and day traders, Replicel may be an interesting play.

Shiseido (SSDOY) — A Japanese cosmetics behemoth that is especially significant in Asia. Basic adenosine based adenovital shampoos and other related products represent a major portion of their overall sales. Besides working on a hair loss cure based on its own technology, Shiseido also holds rights to Replicel’s technology in Asia.

69 thoughts on “Hair Loss Companies and their Stock Prices”

  1. So let’s talk money.

    My question is why did Shiseido, with enough financial firepower to buy all of these other players out of the market and have an entire monopoly on a hair loss cure, only buy into the product from Replicel?

    Surely the directors did not just flip a coin and instead appointed several scientific officers to due extensive due diligence before parting with a sizeable sum of cash and building a purpose-built facility in Japan. What did these scientific officers find in Replicel that made them state their jobs and reputation on this partnership that they did not find in the other players whom they must have seen as having a laugh?

    Let’s assume that the reason is they thought Aclaris would actually win but offers to buy into them were refused so they went with Replicel as a good second bet. Surely if they knew another player would be first past the post, this would make their Replicel investment worthless. Follow the money.

    Am I missing something here?

    1. Aclaris is a many times larger company than Replicel. Expensive. It could be one of strategic fit, who knows what they want the tech for could be for fountain of youth.

      1. @nasa_rs your obsession with JAKs and Aclaris has blinded you to logic. Your reaction to the release of their bad news after August will be interesting to observe.

        As per my last point, surely if they knew another player would be first past the post, this would make their Replicel investment worthless.

    2. Well, (stem) cell therapies have been being prioritized in Japan, as they are deemed an effective mean of revamping the economy.
      Interestingly, Shiseido’s laboratory is withing walking distance of Riken Laboratories, in Kobe.
      A collaboration of the two is quite possible in da future.

    3. We do not know what kind of agreement they have made, it happens very often between these companies to start a project and then abandon it. Experimentation is not just a scientific matter.

  2. I heard and read about people using Voltaren in their regime, is there anyone who can tell me something more about it?

  3. The only reason people talk about stock prices on sites like this is because they seem to assume that the stock price of these companies is the indicator of whether or not their research and development regarding hairloss is viable.

  4. Invested in Aclaris (not just for hairloss, but also their other products alone are promising). My investing company (Vanguard) won’t let me invest in Shiseido, Samumed, or Replicel. Don’t know why. Maybe because they’re essentially penny stocks.

    I’d love to invest in Samumed or Replicel. Not just their hairloss, but their other stuff sounds very promising as well, especially the joints treatment.

    People on hair loss forums keep talking about the recent bump in Shiseido (SSDOY) stock as an approval of the hair loss research. That’s wrong. It’s because their cosmetics team released a plan to become a global competitor, not just in Asia. Basically saying they want to be a big name in the West, like L’Oreal, Estee Lauder, Revlon, and down the line. Just a press conference, nothing about actual research yet.

      1. Well would also explain why we now go more bald than Generations before. … We stay more inside buldings, cars and then outside we wear Sunglasses. …. Check People who are a lot outside in the sun. Check hair of old guys like 73 year old Reinhold Messner ..

        Also see the results and Pictures of the study:

        1. Have not had time to go through all your links from this week….. but is the animal eye and fur model applicable to human eye and scalp hair in this case?

        2. What about the blue light of our smartphones and tablets, don’t they compensate for the lack of natural light …

            1. Alles klar. Ich habe Glaskörpertrübungen seit 20 Jahre. Sie werden immer schlimmer, deshalb komme Ich immer weniger raus und brauche Ich wirklich eine Sonnenbrille. Vielleicht nicht so gut für meine Haare.

              1. Ich bin seit 10 Jahren praktisch nie draussen. Entweder tagsüber im Büro oder Nachtschicht und ich schlafe am Tag. Und in meiner freien Zeit habe ich draussen eine Sonnenbrille auf. …

                But Maybe we should Keep the conversation in English so everybody can read it. The more I think about this light issue the more I think it could be part of the puzzle. It will not cure it but could improve Hair Growth in addition to other treatments.

                1. Würde ich fast im gegenteil behaupten…ich hab das gefuhl dass wenn ich in starke sonne bin, mein kopfhaut juckt und die haare werden wie Streu. Interessant ist die idee von auge als..(keine ahnung auf deutsch wie es heisst, quelle? ) für licht. Das wäre ja eine sehr praktische behandlung…

                  1. The sun probably dries out your outer hair fibres (dead material), which will feel like straw/hay afterwards, however this does nothing to the inner follicle.

                    Your scalp may dehydrate due to the sun and/or your (overproductive) glands will produce extra sweat and oil. This all contributes to an itchy scalp.

                    However, I agree with you that direct blue light on our scalps will not stop our AGA, because there are enough outdoor athletes and folks that are balding just like us. The effects of blue light via the retina might be a different story, but again, a lot of people exercising mostly outdoor still go bald, this while they ‘consume’ enough blue light via their retinas.

                    1. Thats true even Farmer go bald and they are outside a lot. But we all know Hair Growth Needs several different Treatments. Maybe blue light is one part of it combining with other drugs for better metabolism and against Inflammation and DHT. … For the light issue Maybe its the Explanation why shedding is saisonal more in Summer. Isnt shedding the first sign that a Treatment works?

        3. Nonsense. A little sun for some vitamin D is good, after about 30 minutes there is nothing but bad from it. Did you ever burn ants with a magnifying glass? The exact same thing is happening to you from the suns powerful radiation just on a much smaller and slower scale. The strongest sunblocks dont block everything either.
          There is no generational differences unless you have that one thing called evidence.

          1. I dont think its Nonsense. Why should all these scientists put so much work in a Non-Commercial Treatment. They do not want to sell sunlight to you. Check the results … and check out the authors:

            Author Information
            Sabrina Mai-Yi Fana, Yi-Ting Changb, Chih-Lung Chena,c, Wei-Hung Wanga, Ming-Kai Pand,e, Wen-Pin Chenf, Wen-Yen Huanga, Zijian Xug, Hai-En Huanga, Ting Cheng, Maksim V. Plikush,i, Shih-Kuo Chenb,j,1, and Sung-Jan Lina,c,j,k,l,1
            aInstitute of Biomedical Engineering, College of Medicine and College of Engineering, National Taiwan University, 100 Taipei, Taiwan;
            bDepartment of Life Science, College of Life Science, National Taiwan University, 106 Taipei, Taiwan;
            cDepartment of Dermatology, National Taiwan University Hospital and College of Medicine, 100 Taipei, Taiwan;
            dDepartment of Medical Research, National Taiwan University Hospital, 100 Taipei, Taiwan;
            eDepartment of Neurology, National Taiwan University Hospital, 100 Taipei, Taiwan;
            fInstitute of Pharmacology, College of Medicine, National Taiwan University, 100 Taipei, Taiwan;
            gNational Institute of Biological Sciences, 102206 Beijing, China;
            hCenter for Complex Biological Systems, University of California, Irvine, CA 92697;
            iDepartment of Developmental and Cell Biology, Sue and Bill Gross Stem Cell Research Center, University of California, Irvine, CA 92697;
            jResearch Center for Developmental Biology and Regenerative Medicine, National Taiwan University, 100 Taipei, Taiwan;
            kGraduate Institute of Clinical Medicine, College of Medicine, National Taiwan University, 100 Taipei, Taiwan;
            lMolecular Imaging Center, National Taiwan University, 100 Taipei, Taiwan
            Edited by Robert J. Lucas, University of Manchester, Manchester, United Kingdom, and accepted by Editorial Board Member Jeremy Nathans June 7, 2018 (received for review November 9, 2017)

  5. I am increasingly convinced that baldness is a chronic inflammatory process, what triggers this inflammation has not yet been understood 100% but I believe that jaks will be the answer and not only for baldness.

    1. maybe dht is a key to open a demon box. once the process begin it is hard to stop.that is why some male changed their gender but could not regrow their hair.

    1. Can’t really put much faith in TissUse anymore, since they said last year that they still haven’t developed a method for culturing enough of the cells and basically admitted that they’re waiting for someone else to do it for them.

      Some of the most disappointing news of the last few years, IMO

  6. i started losing my hair in my is strange that my safe zone hair keep growing but become extremly small,but i never lose father has the same sympton.i hope that the new drug will not only regrow my lost hair but also improve my hair quality.

  7. I don’t care who wins as long as one of these companies comes out with something that REALLY grows healthy normal hair and maintains the rest. 20 years since Propecia and it’s getting silly. We are just asking for hair we were born with……

    1. I wear glasses and have had laser eye surgery twice. I want the eyes I was born with.
      As Dolly Parton once said, you can’t have the rainbow without the rain. It is very possible that the cure could become available this year. But it is also possible that it may never happen in your lifetime.

  8. Things are kind of stale now as for updates on the companies that have been working on this for a while. Hopefully one of these mature companies will supply an update soon (follica, showed, etc). I think it’s great for the young guys that these new companies are getting into the field but I am getting up there now and the process takes years.

    1. Are you kidding? Both Aclaris and Shiseido release their death or glory results this year. The hair loss equivalents of the Beatles and the Rolling Stones. So this year we will either have a cure, or less players to read up on.

  9. Interesting how Aclaris had the Big news that their topical JAK for AA type hairloss has positive results (interim update) and the stock is relatively flat. I think investors want instant profits and do not want to wait Years for profits. All my opinion.

    1. You know what would really sick, is if aclaris shows a nw7 to a thick nw1 with their jak aga trials and proves it works 100% then they shelf it and never release or a other company buys it from them and never release it. That’s my biggest fear…

    2. even AA type of hairloss takes at least three month to get the best results,i think aga type may also need couple of month to check the efficency.anyway even though jak fails we still have tsuji,but i prefer more accesdible treatment.

      1. What I’ve managed to gather from previous Aclaris press conferences, is that they will trial the topical with various dosages.

        This might be the reason why Aclaris might opt not to divulge any news related to Aga trials for the time being.

  10. Its incrdible what citron research did to polarityte stock. Its unfortunate I understand what they did but I think they should get a slap o the wrist because that tech cannot be shelved over something like that. Just my two cent

    1. well i just read and understood Polarity’s explanation. they should do fine.

      I’m always talking about polarity now because they are already doing what Tsuji talks about. in regards to “hair baring skin” and there was no clinical phase they went straight to patient. It’s working in the real world today. PolarityTE is the american RIKEN at this point in regards to AGA. I hope the best for them.

  11. Aclaris announced Interim result that topical JAK for AA was working in late June but I have no idea when they started the trials.

    They started AGA trials May 23 and by the time of their conference call probably 2nd week in August that would be 2 1/2 months. They should know if it’s working by then but really they will not know how well until a few more months as it takes 5 months for a full set of hair.

    But in the very least I am glad at least they are trying. And if things go right we should know in just a few months if it works, and that would be Earth shattering. If so the topic becomes how well does it work (and we would find out that along with safety by mid 2019). But the topic would turn to how do we buy it. It could all be over very soon.

  12. Its coming Get Ready. We are probably less than 90 days until we get word on whether they have a (hopefully) Great Treatment for Hair loss. Less than 90 days., tick, tick…

    1. I hope if they fail or the results are rubbish they are honest about it. Rather that than go down the laser cap / PRP route and show really shady before and after pictures at suspicious angles and zoom level to even know if it is even the same person.

      1. Scott, in all honesty Aclaris has always shown great pictures related to AA cases.

        My take on their silence, is that they are trialling different doses on different volunteers.

        This in no way means that I’m over positive that the outcome would be positive beyond imagination. But what I’m sure of, is that Aclaris is set to trial a different sort of jak inhibitors called soft jaks in the near future.

  13. I just can’t get excited about jaks. Its a 5050 and its 2 years off minimum if I was 2 years younger maybe

    1. If anyone is expecting nw7 to nw1 regrowth from any new treatment in the pipeline will have a huge disappointing awakening. At best these treatments will give life long maintenance and modest regrowth. Which in my book is a big step forward. I just don’t see a miracle cure coming from jak, follica, SM, follicum, sisheido etc. Tsuji will have the best bet for massive regrowth due to its protocol but I highly doubt it will be out by 2020. It just seems to quick plus I would want 10 years safety data on any cellular treatment. Good thing with sisheido, follica is that they both have at least 5 years safety results which reassuring to some point. Anywho I hope we wame up one morning with a legit cure to this crap and we all can rock the d bag manbun haha together.

    2. I cannot see a Dr. ever prescribing a Jak inhibitor that has severe side effects that warrants a black box label in my clinical drug handbook I use for clinicals, that is used for R.Arthritis, an auto immune disease.

      I have seen latanaprost prescribed though and proscar quite widely, for other reasons besides hair. My clinicals are in a medical surgery unit and wound care, so I would see zero cosmetics.

  14. The most interesting thing about this is seeing the comments from 2018. Nasa as excited as ever about Aclaris almost 2 years later and still crickets on that front. Crickets on pretty much all fronts. Sure there is some noise, some hype, that always just dies out as no real treatment ever materializes. And you see year after year these companies you are rooting for just go silent.

    Best guess, an actual workable treatment with perceptible results will be ready by the earliest 2025. Don’t worry guys, its just 5 years away…

    1. BillyZane I was thinking the same thing. It’s a bit sad reading hopeful comments from a couple years ago. I believed in those jaks too.. ah well

  15. Puretech’s stock has nearly tripled over the last three years, and doubled in the last year. There’s no question that the market knows Follica is on the verge of commercialization. I considered buying some back in 2017 or so, and I wish I had.

    1. From what I can see, their stock price less than doubled in 5 years.

      Follica also represents a small portion of PureTech’s overall holdings.

      1. Firstly, I didn’t say anything about the last five years, just the last three (when Follica started showing real promise). Secondly, you’re probably reading the wrong chart; they aren’t listed on the US exchange (PTCHF – the chart you looked at), they’re listed on the FTSE under “PRTC”.

        It’s tripled in three years, nearly double in the last year.

        1. Yes I was checking “PRTC” as mentioned in the blog post paragraph about PureTech, but only looking at 5 year performance (which is strong, but less than a doubling). 1 year and 3 year performance both impressive.

  16. This doesn’t make sense to me. I seen start ups on facebook, granted for aviation, people buying $100 minimum on penny stocks….so a truck ton of stock. These companies within a month raise over 1-2 million on Facebook lol. So, why hair loss cannot generate this and has to go to conferences and have CEO’s tr to hype their product just to eek out a few million….tells me a lot. Replicel had a few youtube videos if I recall correctly..that were promoting their tech back in 2017ish-2018.

    I am saying a product speaks for itself and doesn’t need a voice if it has a high CLEAR reward. Take a supplement for body building….pseudo science…but sells, no spokes person.

    That’s why I never touched Replicel, soon as I seen them trying to raise through youtube etc…Nope. I have more faith that taking nettle root and palmetto extract will work over replicel.

    I’ll take a gamble on a better stock….assuming you will lose everything you invest in, but invest in something where the tech or service speaks for itself. ….I want my next bitcoin @ $100 gosh darn it. Ha.

  17. for years we could have used clean energy for cars … but instead we continue to use fossil energy … if baldness has not yet been cured it is only for reasons related to a certain type of economy …

  18. Excuse my ignorance, but if I want to buy stock in Shiseido – does it matter if I buy the 4911:TYO one or SSDOY stock? Are these basically the same stock, traded on different exchanges? Or is the Tokyo one I am after, as the product is developed and released there? And would there be any point in all buying Replicel, as they seem to be dependent on Shiseido?

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