Vera Therapeutics extends surge after upsized $250 mln stock offering

Vera Therapeutics

30/01/2024 14:24

** Vera Therapeutics Inc's  VERO.O  shares up 1.1% at $34
premarket after co raises more equity than planned
    ** Co late Mon said sold ~8.1 mln shares at $31 for approx
$250 mln gross proceeds
    ** VERA shares had roughly doubled over the prior 3 sessions
since additional data in mid-stage study for co's kidney disease
drug, atacicept, exceeded market expectations
    ** Co has ~44.4 mln shares outstanding for ~$1.5 bln market
cap
    ** Vera IPOd in May 2021 at $11
    ** JP Morgan, TD Cowen and Evercore acting as jt bookrunners
for this latest stock offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))