Vera Therapeutics(VERA) - 2025 Q1 - Quarterly Results

Financial Performance - Vera Therapeutics reported a net loss of $51.7 million for Q1 2025, compared to a net loss of$28.4 million in Q1 2024, representing an increase of 82% year-over-year[9]. - Operating expenses for Q1 2025 totaled $57.2 million, up from$31.1 million in Q1 2024, indicating an increase of 83% year-over-year[19]. - The weighted-average shares used in computing net loss per share increased to approximately 63.7 million in Q1 2025 from 51.0 million in Q1 2024[19]. - Vera's accumulated deficit reached $512.9 million as of March 31, 2025, compared to$461.3 million at the end of 2024[21]. Cash Position - The company had $589.8 million in cash, cash equivalents, and marketable securities as of March 31, 2025, which is expected to fund operations through the potential approval and U.S. commercial launch of atacicept[10]. Clinical Development - Vera is on track to announce primary endpoint results from the pivotal ORIGIN 3 trial in Q2 2025, with plans for a Biologics License Application (BLA) submission for atacicept in Q4 2025[5][6]. - The Phase 2b ORIGIN clinical trial of atacicept in IgAN met its primary and key secondary endpoints, showing statistically significant proteinuria reductions[12]. - Vera has expanded the atacicept development program to include additional autoimmune kidney diseases such as primary membranous nephropathy (PMN) and focal segmental glomerulosclerosis (FSGS)[7]. - The company completed full enrollment in the pivotal ORIGIN Phase 3 trial of atacicept in IgAN[7]. Product Development - Vera acquired exclusive development and commercialization rights to VT-109, a novel fusion protein targeting BAFF and APRIL, with potential applications across B cell mediated diseases[7].