NASDAQ$VERV
Verve Therapeutics Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Verve Therapeutics reported financial results for the second quarter of 2023 and highlighted company progress.
Verve Therapeutics reported a net loss of $54.0 million for the second quarter of 2023. The company's cash position remains strong with $462.5 million in cash, cash equivalents, and marketable securities, expected to fund operations into 2026. The company is advancing its pipeline, including VERVE-101, VERVE-102, and VERVE-201, and progressing in its collaboration with Lilly.
- Initial clinical data from the heart-1 Phase 1b clinical trial of VERVE-101 is expected in the fourth quarter of 2023.
- Preclinical studies and clinical operations activities are underway to support the initiation of clinical trials for VERVE-102 and VERVE-201 in 2024.
- The Lp(a) program is advancing in collaboration with Lilly, with Verve receiving $60 million in combined upfront payment and equity investment in August 2023.
- Verve Therapeutics is well-capitalized with a cash runway into 2026.
Headline financials
Revenue & EPS history
Verve Therapeutics · Revenue · Quarterly
$2.09M
Revenue by segment
Verve Therapeutics · $2.1M total across 1 segment · Q2 2023
- Collaboration Revenue$2.1M—100.0%
Forward guidance
Verve Therapeutics expects to report initial clinical data from the heart-1 Phase 1b clinical trial of VERVE-101 in the fourth quarter of 2023 and initiate clinical trials for VERVE-102 and VERVE-201 in 2024. The company's existing cash, cash equivalents, and marketable securities, including the additional $60.0 million upfront payment and equity investment from Lilly in August 2023, are expected to be sufficient to fund its operations into 2026.
Tailwinds
- Initial clinical data from heart-1 trial expected in Q4 2023
- Clinical trials for VERVE-102 on track for first half of 2024
- Clinical trials for VERVE-201 on track for second half of 2024
- Lp(a) program advancing with Lilly collaboration
- Cash runway extends into 2026
Headwinds
- Ongoing clinical trial enrollment outside the United States due to FDA hold
- Reliance on regulatory clearance for clinical trial initiations
- Dependence on Lilly for funding Lp(a) program through Phase 1
- Potential for delays in clinical trial timelines
- Risks associated with preclinical and clinical development
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q2 2023
-1.0%
Avg return
Earnings day
+0.3%
Avg return
5 days after
-3.8%
Avg return
30 days after
47%
8 / 17 earnings
Positive
+24.4%
Q4 2023
Best reaction
-34.2%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2025 | +3.4% | +5.0% | +48.1% | |
| Q4 2025 | -1.7% | -2.9% | -16.3% | |
| Q3 2024 | +6.0% | +4.5% | +1.0% | |
| Q2 2024 | -12.1% | -20.8% | -1.6% | |
| Q1 2024 | +3.2% | +0.8% | -15.6% | |
| Q4 2023 | +24.4% | +12.7% | -8.2% | |
| Q3 2023 | +11.8% | +4.8% | -13.8% | |
| Q2 2023 | +2.6% | -9.9% | -28.0% | |
| Q1 2023 | -5.2% | -4.5% | -2.6% | |
| Q4 2022 | +7.0% | +3.0% | -20.8% | |
| Q3 2022 | -34.2% | -13.7% | -31.5% | |
| Q2 2022 | +17.5% | +31.2% | +47.0% | |
| Q1 2022 | -4.4% | +12.8% | +15.2% | |
| Q4 2021 | -20.1% | -4.3% | -19.7% | |
| Q3 2021 | -2.7% | -7.8% | -34.7% | |
| Q4 2020 | -1.4% | +5.5% | +7.5% | |
| Q2 2021 | -10.7% | -11.9% | +10.1% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro