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Dec 31, 2024
Verve Therapeutics Q4 2024 Earnings Report
Pipeline progressed and financial results reported.
Key Takeaways
Verve Therapeutics reported progress in its pipeline development, including the Heart-2 Phase 1b clinical trial of VERVE-102 and the Pulse-1 Phase 1b clinical trial of VERVE-201. The company's cash, cash equivalents, and marketable securities totaled $524.3 million, expected to fund operations into mid-2027. Frederick T. Fiedorek, M.D., will retire from his position as Chief Medical Officer, effective February 28, 2025.
Initial data from the Heart-2 Phase 1b clinical trial of VERVE-102 is expected in the second quarter of 2025.
VERVE-102 has been well-tolerated in the Heart-2 trial, with no treatment-related serious adverse events observed.
Delivery of opt-in package to Eli Lilly and an opt-in decision from Lilly are expected in the second half of 2025.
Enrollment is ongoing in the Pulse-1 Phase 1b clinical trial of VERVE-201.
Revenue by Segment
Forward Guidance
Verve Therapeutics anticipates several milestones in 2025, including initial and final data from the Heart-2 trial, an update on the ANGPTL3 program, and a decision from Lilly on the PCSK9 program. The company expects its cash position to be sufficient to fund operations into mid-2027.
Positive Outlook
- Initial data from the Heart-2 Phase 1b clinical trial of VERVE-102 expected in the second quarter of 2025.
- Final data from the dose escalation portion of the Heart-2 trial expected in the second half of 2025.
- Delivery of the opt-in package for the PCSK9 program to Lilly expected in the second half of 2025.
- Opt-in decision from Lilly on the PCSK9 program expected in the second half of 2025.
- Program update for VERVE-201, targeting ANGPTL3, expected in the second half of 2025.
Challenges Ahead
- Vertex notified the company of its decision to terminate the research collaboration due to changing priorities within its development portfolio.
- The company has a limited operating history.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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