Vera Therapeutics falls after kidney drug data from rival Otsuka

Otsuka Holdings

06/06/2025 14:52

Updates

** Shares of drug developer Vera Therapeutics VERA.O fall as much as 31.2% to $20.50

** Stock set for its worst day since January 2023 if losses hold

** Rival Otsuka's 4578.T experimental drug for a type of kidney disease showed over 50% reduction in protein in patient's urine in a late-stage trial, co says

** VERA's shares surged over 60% on Monday after its experimental kidney disease drug, atacicept, helped significantly reduce harmful levels of proteins in patient urine in a late-stage study

** Both companies are developing drugs to treat IgA nephropathy, which causes abnormal protein buildup in the kidneys and could eventually lead to the organ's failure

** Vera's atacicept reduced protein levels in patients' urine by 46%, compared with a 7% reduction with a placebo

** Both Otsuka and Vera have "checked the box" for proteinuria and have a high likelihood of accelerated approval, however, the key differentiation will come when long-term kidney function data is released, says Raymond James analyst Ryan Deschner

** Including session's move, VERA down ~50% YTD

(Reporting by Sneha S K and Siddhi Mahatole)

((Sneha.SK@thomsonreuters.com))