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Dec 31, 2022
Vera Q4 2022 Earnings Report
Vera Therapeutics reported business highlights for the fourth quarter and financial results for the full year ended December 31, 2022
Key Takeaways
Vera Therapeutics reported a net loss of $89.1 million for the year ended December 31, 2022. The company's cash, cash equivalents, and marketable securities totaled $114.7 million as of December 31, 2022. They are prioritizing advancement of atacicept in IgAN, plans to initiate Phase 3 clinical trial in second quarter of 2023
Announced positive interim data from the Phase 2b ORIGIN clinical trial of atacicept in IgAN, which showed a 41% mean reduction in proteinuria versus baseline in the 150mg dose group at 24 weeks
36-week data from the Phase 2b ORIGIN clinical trial of atacicept in IgAN on track for the second quarter of 2023
Management prioritizing advancement of atacicept in IgAN, plans to initiate Phase 3 clinical trial in second quarter of 2023
Strong balance sheet expected to fund IgAN-focused operations to early 2026
Vera
Vera
Forward Guidance
Vera Therapeutics plans to advance atacicept into pivotal Phase 3 development in the second quarter of 2023, expects to report Phase 3 topline data at Week 36 and ongoing data from the ORIGIN trial in 2023, and plans to prioritize and focus current resources on the advancement of atacicept in IgAN into a pivotal Phase 3 trial.
Positive Outlook
- Atacicept’s potential to be a transformational treatment for patients with IgAN and a best-in-disease therapy
- Plans to advance atacicept into pivotal Phase 3 development in the second quarter of 2023
- Expectations regarding reporting Phase 3 topline data at Week 36 and ongoing data from the ORIGIN trial in 2023
- Plans to prioritize and focus current resources on the advancement of atacicept in IgAN into a pivotal Phase 3 trial
- Vera’s product candidates, strategy, and regulatory matters
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