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Mar 31, 2022
Vera Q1 2022 Earnings Report
Vera Therapeutics reported financial results for the first quarter of 2022.
Key Takeaways
Vera Therapeutics reported a net loss of $17.1 million for the quarter ended March 31, 2022. The company's cash, cash equivalents, and marketable securities totaled approximately $151 million as of March 31, 2022. They also have access to a $45.0 million credit facility.
Phase 2b ORIGIN clinical trial of atacicept is on track, with topline data expected in Q4 2022.
Initiation of Phase 3 pivotal clinical trial of atacicept in lupus nephritis is planned for 2H-2022.
Results from a 12-week interim analysis of Phase 2 study of MAU868 in kidney transplant recipients are planned in June 2022.
The company has a strong balance sheet with approximately $151 million in cash, cash equivalents, and marketable securities as of March 31, 2022.
Vera
Vera
Forward Guidance
Vera Therapeutics expects to achieve several key milestones and announce clinical data across its development pipeline throughout the year and is positioned to fund its current programs and operations with current cash, cash equivalents, and marketable securities plus available credit, to the second quarter of 2024.
Positive Outlook
- Enrollment in the Phase 2b ORIGIN clinical trial of atacicept remains on track, topline data expected in the fourth quarter 2022.
- Two presentations featuring new clinical data from the Phase 2a JANUS clinical trial of atacicept in patients with IgA nephropathy (IgAN) and renal data from a post-hoc analysis of the Phase 2 APRIL-SLE study evaluating atacicept in patients with systemic lupus erythematosus (SLE) are scheduled at the 59th European Renal Association European Dialysis and Transplant Association (ERA-EDTA) Congress being held May 19-22, 2022.
- The 12-week results from the interim analysis of a Phase 2 study in BKV viremia among kidney transplant recipients are scheduled to be presented at the American Transplant Conference on June 4, 2022.
- Plan to initiate in the second half of 2022 a randomized, double-blinded, placebo-controlled Phase 3 clinical trial of atacicept in lupus nephritis.
- Plan to announce topline data for the Phase 2b ORIGIN clinical trial in the fourth quarter of 2022.
Challenges Ahead
- Risks related to the regulatory approval process.
- Results of earlier clinical trials may not be obtained in later clinical trials.
- Risks and uncertainties associated with Vera’s business in general.
- The impact of the COVID-19 pandemic.
- Other risks described in Vera’s filings with the Securities and Exchange Commission.