New hair loss drug for women enters final testing phase

Copied word for word from the study's registry entry, so the wording is the study team's rather than ours.

Inclusion Criteria: * Female participants aged ≥18 years and ≤60 years at the time of signing the informed consent form. * Presentation of female pattern hair loss in stages 2 to 4 of the Sinclair scale (Women's Alopecia Severity Scale - WASS), based on the Investigator's clinical examination. * Absence of specific treatment for female pattern hair loss (FPHL) in the last 6 months or history of specific treatment for FPHL lasting ≤30 days in the last 6 months. Participants currently using specific treatment for FPHL or with prior use lasting \>30 days in the last 6 months must complete a 3-month washout period before the Randomization Visit (RV). * Willing to agree to all procedures and assessments required by the clinical trial, including a permanent tattoo applied to the scalp and shaving of the target area. * Willing to maintain hair style, length, and color throughout the study. * Willing to maintain consistent use of hair care products and general hair care routine during the entire study. Exclusion Criteria: * Participant presenting other causes of alopecia, such as: alopecia areata, scarring alopecia, traction alopecia, nutritional deficiency, monilethrix, trichotillomania, trichothiodystrophy, chemotherapy-induced alopecia. * Participant who experienced telogen effluvium in the last 6 months, such as after childbirth, infection, intense stress. * Participant presenting other dermatological conditions on the scalp, such as: seborrheic dermatitis, psoriasis, eczema, scalp mycosis. * Participant presenting signs or symptoms of hyperandrogenism, such as: hirsutism, moderate to severe acne. * Participant with previous diagnosis of hormonal disorders, such as: polycystic ovary syndrome, ovarian or adrenal tumors. * Participant with previous diagnosis of pituitary disorders, such as: prolactinoma, panhypopituitarism. * Participant presenting uncontrolled thyroid disease. * Participant with previous diagnosis of autoimmune diseases or collagen disorders, such as: systemic lupus erythematosus, dermatomyositis, scleroderma. * Participant in use of hormonal therapy initiated or changed in the last 6 months. * Participant who has received an organ transplant. * Participant who underwent physical treatments for hair loss in the last 6 months, such as: microneedling, laser, platelet-rich plasma. Note: in this case, the participant must complete a 3-month washout period. * Participant with history of hair transplant. * Participant who uses hair extensions. * Participant presenting severe uncontrolled hypertension (systolic blood pressure \[SBP\] \>180 mmHg or diastolic blood pressure \[DBP\] \>110 mmHg). * Participant presenting confirmed orthostatic hypotension (sustained reduction of SBP ≥20 mmHg or DBP ≥10 mmHg within 3 minutes after standing). * Participant presenting arterial hypotension (SBP \<90 mmHg or DBP \<60 mmHg). * Participant with previous diagnosis or suspected pulmonary hypertension associated with mitral stenosis. * Participant with previous diagnosis of acute myocardial infarction. * Participant with previous diagnosis or suspected pheochromocytoma. * Participant presenting history of peripheral edema, lymphedema, or ascites. * Participant with history or risk factor for pericardial effusion. * Participant with previous diagnosis of other moderate to severe cardiovascular, renal, or hepatic diseases. * History of any malignancy in the last 5 years, except successfully treated non-metastatic basal cell or squamous cell carcinoma of the skin. * Participant in current use of potent vasodilators, such as: hydralazine and isosorbide. * Participant with known allergy or hypersensitivity to minoxidil or any component of the formulation. * Participant presenting hair styles that, in the Investigator's opinion, prevent study assessments, such as: permanent braids, dreadlocks, box braids, nagô. * Participant who is pregnant, breastfeeding, or has potential to become pregnant and does not agree to use a contraceptive method during the clinical trial. * Participant presenting any clinically significant condition that, in the Investigator's opinion, makes the participant unsuitable for participation in the trial. * Participant who has participated in clinical trial protocols in the last 12 months, unless the Investigator considers there may be direct benefit.