Vera Therapeutics(VERA) - 2024 Q4 - Annual Results

Financial Performance - Vera Therapeutics reported a net loss of $152.1 million for the year ended December 31, 2024, compared to a net loss of$96.0 million in 2023, representing a 58.8% increase in losses[8] - Operating expenses for 2024 totaled $167.2 million, up from$102.0 million in 2023, indicating a 63.9% increase year-over-year[18] - As of December 31, 2024, the total stockholders' equity increased to $577.2 million from$101.7 million in 2023, reflecting a significant growth in equity[20] Cash and Funding - The company had $640.9 million in cash, cash equivalents, and marketable securities as of December 31, 2024, sufficient to fund operations through potential approval and U.S. commercial launch of atacicept[9] - Vera completed two equity financings in 2024, raising approximately$593.2 million in net proceeds to bolster its balance sheet ahead of regulatory submission and commercial launch[11] Clinical Development - Vera is on track to announce the primary endpoint result from the atacicept pivotal Phase 3 ORIGIN trial in IgA Nephropathy in Q2 2025, with a Biologics License Application submission planned for the second half of 2025[5] - The company received FDA Breakthrough Therapy Designation for atacicept in IgAN, reflecting its potential to significantly improve treatment outcomes[6] - The Phase 2b ORIGIN clinical trial of atacicept demonstrated statistically significant proteinuria reductions and stabilization of eGFR over 96 weeks[12] - Vera announced an expanded development pipeline for atacicept across multiple autoimmune kidney diseases, including PMN, FSGS, and MCD, beginning in 2025[6] - The company plans to initiate the PIONEER trial in 2025 to evaluate atacicept in expanded IgAN populations and other related conditions[11]