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Sep 30, 2024
Verve Therapeutics Q3 2024 Earnings Report
Verve Therapeutics reported pipeline progress and financial results for Q3 2024.
Key Takeaways
Verve Therapeutics announced pipeline updates and financial results for the quarter ended September 30, 2024. Key highlights include progress in the Heart-2 Phase 1b clinical trial of VERVE-102, the first participant dosed in the Pulse-1 Phase 1b clinical trial of VERVE-201, and a cash position of $539.9 million expected to fund operations through 2026.
Seven participants dosed across two cohorts in the Heart-2 Phase 1b clinical trial of VERVE-102, with initial data planned for the first half of 2025.
First participant dosed in the Pulse-1 Phase 1b clinical trial of VERVE-201; regulatory clearances received in Australia, Canada, and the U.K.
VERVE-102 has been well-tolerated, with no serious adverse events and no clinically significant laboratory abnormalities observed.
Cash, cash equivalents, and marketable securities totaled $539.9 million, providing a cash runway through 2026.
Revenue by Segment
Forward Guidance
Verve Therapeutics expects to provide initial data from the Heart-2 clinical trial and an update on the PCSK9 program in the first half of 2025. The company also plans to initiate the Phase 2 clinical trial for the PCSK9 program in the second half of 2025. Verve expects its capital position to be sufficient to fund its operations through 2026.
Positive Outlook
- Initial data from the Heart-2 clinical trial is expected in the first half of 2025.
- Phase 2 clinical trial for the PCSK9 program is planned for the second half of 2025.
- Cash position is expected to be sufficient to fund operations through 2026.
- Ongoing enrollment for the Heart-2 clinical trials in Australia, Canada and the U.K.
- First participant dosed in the Pulse-1 Phase 1b clinical trial for VERVE-201
Challenges Ahead
- Heart-1 clinical trial will remain paused during the dose escalation portion of the Heart-2 clinical trial evaluating VERVE-102.
- Development of product candidates depends on regulatory approvals.
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