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Sep 30, 2023
Vera Q3 2023 Earnings Report
Reported business highlights and financial results for the third quarter ended September 30, 2023.
Key Takeaways
Vera Therapeutics reported a net loss of $20.1 million for the third quarter ended September 30, 2023. The company's cash, cash equivalents, and marketable securities totaled $159.9 million as of September 30, 2023. The company expects these to fund operations to early 2026.
Phase 2b open-label extension eGFR and proteinuria data expected in the first quarter of 2024; actively adding sites and enrolling pivotal Phase 3 ORIGIN 3 study of atacicept in IgAN
Announced analysis of Phase 2b ORIGIN study showing resolution of hematuria in the majority of patients, at the American Society of Nephrology Kidney Week 2023
Presented data at ASN Kidney Week 2023 showing patients on atacicept 150 mg achieved durable and significant Gd-IgA1 reduction over 36 weeks where regardless of baseline quartile, 82% of patients (n=27/33) achieved reduction to the lowest risk quartile.
Strong balance sheet expected to fund operations to early 2026
Forward Guidance
Vera Therapeutics anticipates several milestones including presenting OLE data from the ORIGIN Phase 2b clinical trial in the first quarter of 2024, full enrollment in the Phase 3 study in the second half of 2024, and topline data from the pivotal ORIGIN 3 trial in the first half of 2025.
Positive Outlook
- OLE data from ORIGIN Phase 2b clinical trial to be presented in the first quarter of 2024
- Phase 3 full enrollment estimated in the second half of 2024
- Topline data from the pivotal ORIGIN 3 trial expected to be presented in the first half of 2025
Historical Earnings Impact
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