Vera hits nearly 4-month high as kidney disease drug succeeds in late-stage trial

Vera Therapeutics

02/06/2025 15:26

Updates

** Shares of drug developer Vera Therapeutics VERA.O rise as much as 60% to a near 4-month high of $32 in morning trade

** Stock is set for its best day since its IPO in May 2021, if gains hold

** Says its kidney disease drug, atacicept, met main goal in a late-stage study to treat IgA nephropathy

** IgA nephropathy causes a protein called immunoglobulin A to build up in the kidney

     ** Company says the drug reduced 46% protein in urine,  stabilizing kidney function levels compared to placebo as measured on 24-hour kidney function test called urine protein creatinine ratio (UPCR)

** At week 36, atacicept, achieved statistically significant and clinically meaningful 42% reduction in UPCR test - VERA

** Company plans to submit a marketing application to the FDA in Q4 and expects potential launch in 2026

** As of last close, VERA down 55.2% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))