Vera Therapeutics Inc · Q4 2023 earnings

Briefing

Reported business highlights and financial results.

Vera Therapeutics reported a net loss of $96.0 million for the year ended December 31, 2023, and had $160.7 million in cash, cash equivalents, and marketable securities as of the same date. The company completed a $287.5 million financing, strengthening its balance sheet.

• Presented positive 72-week data from the Phase 2b ORIGIN clinical trial, setting a new standard in IgAN with no loss of kidney function over the duration of treatment.
• Actively adding sites and enrolling pivotal Phase 3 ORIGIN 3 study of atacicept for the treatment of IgAN; topline data expected in 1H 2025.
• Completed $287.5 million financing, further strengthening the Company’s balance sheet and extending the Company’s expected cash runway through potential approval and commercial launch.
• Presented positive 72-week data from ORIGIN Phase 2b trial of atacicept in IgAN that show consistent and sustained reductions in Gd-IgA1, hematuria, and UPCR, with stable eGFR over the duration of treatment.

Headline financials

Revenue & EPS history

Vera Therapeutics anticipates several milestones including completion of Phase 3 full enrollment for primary endpoint estimated in the second half of 2024, presenting 96-week data from ORIGIN Ph 2b clinical trial of atacicept in IgAN in the fourth quarter, and topline data from the pivotal ORIGIN 3 trial expected to be presented in the first half of 2025.