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Jun 30, 2023
Vera Q2 2023 Earnings Report
Vera Therapeutics reported business updates and financial results
Key Takeaways
Vera Therapeutics reported positive 36-week data from the Phase 2b ORIGIN trial and initiated the Phase 3 ORIGIN 3 clinical trial of atacicept in June. The company's balance sheet is expected to fund operations to early 2026. The company reported a net loss of $20.2 million, or $0.46 per share, and cash, cash equivalents, and marketable securities of $181.0 million as of June 30, 2023.
Presented positive 36-week results from the Phase 2b ORIGIN clinical trial of atacicept in IgAN at the 60th ERA Congress.
Initiated Phase 3 ORIGIN 3 clinical trial of atacicept in June for the treatment of IgAN.
Released positive 36-week results from the Phase 2b ORIGIN clinical trial of atacicept in IgAN, which showed both statistically significant and clinically meaningful reduction in proteinuria and stabilization of estimated glomerular filtration rate (eGFR) through 36 weeks.
Strong balance sheet with cash and marketable securities on hand and available credit expected to fund operations to early 2026.
Forward Guidance
Vera Therapeutics expects to present additional data from the ongoing Phase 2b ORIGIN clinical trial in the second half of 2023 and 2024 and announce preliminary data from the pivotal ORIGIN 3 trial in the first half of 2025.
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