Vera rises on additional mid-stage study data for kidney disease drug

Vera Therapeutics

25/01/2024 13:52

** Shares of drug developer Vera Therapeutics  VERA.O  rise
15.1% to $19.6 premarket 
    ** Co reports additional data from a mid-stage study testing
its kidney disease drug, atacicept, as a potential treatment for
IgA nephropathy
    ** IgA nephropathy causes a protein called immunoglobulin A
to build up in the kidney
    ** Additional results were similar to data reported from a
trial in June, after patients in study had received treatment
for 36 weeks 
    ** At week 72, atacicept helped in reducing excess levels of
a protein in urine and stabilizing kidney function levels,
compared to placebo - VERA  
    ** J.P. Morgan analysts said the data exceeded their
expectations, achieving a "home run scenario"  
     ** Co says the drug was generally well-tolerated in the 72
week period of the study 
    ** 72-week data provide additional confidence in the ongoing
late-stage study testing atacicept- VERA 
    ** Co says enrollment for the late-stage study is on track
to be completed in H2 2024 
    ** Stock rose 87.9% in the last 12 months 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))