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Dec 31, 2021
Verve Therapeutics Q4 2021 Earnings Report
Verve Therapeutics reported its Q4 2021 financial results and pipeline progress.
Key Takeaways
Verve Therapeutics reported a net loss of $31.3 million for the fourth quarter of 2021. The company's cash, cash equivalents, and marketable securities totaled $360.4 million as of December 31, 2021, expected to fund operations into 2024. The company is advancing its VERVE-101 program and planning IND-enabling studies for its ANGPTL3 program.
Verve is on track to initiate clinical trials for VERVE-101 in the second half of 2022.
IND-enabling studies for the ANGPTL3 program are anticipated to begin in the second half of 2022.
Preclinical data in non-human primates demonstrate the potential to re-dose or sequentially dose base editing programs.
Verve has developed a proprietary GalNAc-LNP delivery system for in vivo liver gene editing treatments.
Verve Therapeutics
Verve Therapeutics
Forward Guidance
Verve Therapeutics anticipates significant progress in 2022, with the initiation of a clinical trial for VERVE-101 and IND-enabling studies for the ANGPTL3 program.
Positive Outlook
- VERVE-101 Clinical Initiation on Track for the Second Half of 2022
- ANGPTL3 Program IND-Enabling Studies Anticipated to Begin in the Second Half of 2022
- Verve plans to expand beyond its PCSK9 and ANGPTL3 programs to develop a suite of single-course gene editing medicines that address root causes of disease.
- Verve’s existing cash, cash equivalents and marketable securities will enable the company to fund its operating expenses and capital expenditure requirements into 2024.
- Verve is scheduled to present at multiple upcoming scientific conferences.
Challenges Ahead
- The company has a limited operating history.
- The company's ability to submit applications for its product candidates is subject to timing risks.
- The company's ability to advance its product candidates in clinical trials is subject to risks.
- The company may not be able to correctly estimate the potential patient population and/or market for its product candidates.
- The company may not be able to replicate in clinical trials positive results found in preclinical studies.