NASDAQ$VERV
Verve Therapeutics Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Verve Therapeutics reported financial results for the third quarter of 2023 and highlighted recent company progress.
Verve Therapeutics reported a net loss of $45.8 million for the third quarter of 2023 and ended the quarter with $485.2 million in cash, cash equivalents, and marketable securities. The company anticipates its cash runway will extend into 2026. They also announced the FDA cleared the IND application for VERVE-101, and interim data from the heart-1 Phase 1b clinical trial of VERVE-101 will be presented at AHA.
- FDA cleared Investigational New Drug Application for VERVE-101 in patients with Heterozygous Familial Hypercholesterolemia (HeFH).
- Collaboration with Eli Lilly and Company (Lilly) expands through Lilly’s acquisition of product rights to Verve’s PCSK9 and ANGPTL3 programs from Beam Therapeutics.
- Interim Data from the heart-1 Phase 1b Clinical Trial of VERVE-101 in Patients with HeFH to be Presented at the American Heart Association (AHA) Scientific Sessions 2023 on November 12.
- Cash, Cash Equivalents and Marketable Securities of $485.2 Million, providing cash runway into 2026.
Headline financials
Revenue & EPS history
Verve Therapeutics · Revenue · Quarterly
$3.12M
Revenue by segment
Verve Therapeutics · $3.12M total across 1 segment · Q3 2023
- Collaboration Revenue$3.12M—100.0%
Forward guidance
Verve expects to initiate Phase 1 clinical trials for VERVE-102 in the first half of 2024 and VERVE-201 in the second half of 2024 and expects its existing cash, cash equivalents, and marketable securities to be sufficient to fund its operations into 2026.
Tailwinds
- Initiate Phase 1 clinical trials for VERVE-102 in the first half of 2024.
- Initiate Phase 1 clinical trials for VERVE-201 in the second half of 2024.
- Existing cash, cash equivalents, and marketable securities to be sufficient to fund its operations into 2026.
- Progressing the heart-1 Phase 1b trial of VERVE-101 in patients in the United Kingdom and New Zealand.
- Obtained clearance of first IND application from the FDA, which now enables to add U.S. sites to the heart-1 trial and begins the regulatory path in the U.S. for VERVE-101.
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 Q3 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 | — | — | — |
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