Vera Therapeutics(VERA) - 2023 Q4 - Annual Results

Clinical Trial Progress - Presented positive 72-week data from the Phase 2b ORIGIN clinical trial, showing no loss of kidney function over the duration of treatment[3] - Phase 3 ORIGIN 3 clinical trial of atacicept for IgAN is on track, with topline data expected in the first half of 2025[3][12] - The Phase 2b ORIGIN trial of atacicept in IgAN showed statistically significant reductions in proteinuria and stabilized eGFR at weeks 24, 36, and 72[14] Financial Performance - Reported a net loss of $96.0 million for the year ended December 31, 2023, compared to a net loss of$89.1 million in the previous year[10] - Net cash used in operating activities was $92.2 million for the year ended December 31, 2023, compared to$67.6 million in the previous year[10] - Research and development expenses increased to $78.2 million in 2023 from$69.0 million in 2022[6] Financing and Cash Position - Completed $287.5 million financing, extending the company's cash runway through potential approval and commercial launch[3] - Reported$160.7 million in cash, cash equivalents, and marketable securities as of December 31, 2023[11] - Completed an upsized public offering of Class A common stock with gross proceeds of approximately $287.5 million in February 2024[12] Product Pipeline - MAU868, a potential first-in-class monoclonal antibody, has the potential to neutralize BK virus infection, with no approved treatments currently available[15]