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Sep 30, 2024
Vera Q3 2024 Earnings Report
Vera Therapeutics reported financial results for the third quarter ended September 30, 2024.
Key Takeaways
Vera Therapeutics reported a net loss of $46.6 million for the third quarter of 2024. The company completed enrollment of the primary endpoint cohort in the pivotal Phase 3 ORIGIN 3 trial of atacicept in IgAN and announced an expanded atacicept development program. They also completed a $345 million equity offering.
Presented positive 96-week long-term eGFR stabilization data from ORIGIN Ph 2b clinical trial of atacicept in IgAN.
Completed enrollment of the primary endpoint cohort in the pivotal Phase 3 ORIGIN 3 trial of atacicept in IgAN; topline data expected in Q2 2025.
Announced expanded atacicept development program in the broad IgAN population and in multiple autoimmune kidney diseases.
Completed a $345 million equity offering ahead of potential regulatory submission and commercial launch.
Forward Guidance
The pivotal ORIGIN 3 trial is on track to announce topline results in Q2 2025, with a planned BLA submission to the U.S. FDA later in the year. The company plans to initiate the ORIGIN Extend study in Q4 2024 and the PIONEER trial in 2025.
Positive Outlook
- Pivotal ORIGIN 3 trial on track to announce topline results in Q2 2025, with planned BLA submission to the U.S. FDA later in the year
- Plan to initiate the ORIGIN Extend study in Q4 2024, providing ORIGIN participants with extended access to atacicept and capturing longer-term safety and efficacy data
- Plan to initiate the PIONEER trial in 2025, which will evaluate the efficacy and safety of atacicept in expanded IgAN populations and anti-PLA2R and anti-nephrin podocytopathies
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