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Jun 30, 2022
Vera Q2 2022 Earnings Report
Vera Therapeutics reported financial results for the quarter ended June 30, 2022.
Key Takeaways
Vera Therapeutics reported a net loss of $14.9 million for the second quarter of 2022, with $131.9 million in cash, cash equivalents, and marketable securities as of June 30, 2022.
Completed enrollment for Phase 2b ORIGIN clinical trial of atacicept in IgA nephropathy; topline data now expected to be presented in early Q1 2023.
Presented positive 12-week interim analysis of Phase 2 study of MAU868 in kidney transplant recipients with BK Virus viremia at American Transplant Congress in June 2022; expect to initiate a Phase 2b or Phase 3 clinical trial in 2023
Strong balance sheet with approximately $131.9 million in cash, cash equivalents, and marketable securities as of June 30, 2022 and access to a $45.0 million credit facility expected to fund operations to Q2 2024
Appointed Michael M. Morrissey, Ph.D. as Chairman of Vera’s board of directors.
Forward Guidance
Vera Therapeutics plans to initiate a Phase 3 clinical trial of atacicept in lupus nephritis during the second half of 2022, announce topline data from the Phase 2b ORIGIN clinical trial of atacicept in IgAN early first quarter of 2023, and expect to initiate a Phase 2b or Phase 3 clinical trial of MAU868 in BKV viremia among kidney transplant recipients in 2023.
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