Vera Therapeutics
Sells TRUTAKNA and develops immune-mediated kidney disease treatments.
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Profile
Sells TRUTAKNA, a self-administered BAFF and APRIL inhibitor for adults with primary IgA nephropathy, while developing atacicept in additional autoimmune kidney diseases. Its U.S.-focused commercial model and continued approval depend on TRUTAKNA and confirmatory ORIGIN 3 data.
Commercializes TRUTAKNA (atacicept-vymj), a once-weekly, self-administered BAFF and APRIL inhibitor, in the United States for adults with primary IgA nephropathy at risk for disease progression. The treatment received accelerated approval to reduce proteinuria, while ORIGIN 3 is intended to verify longer-term clinical benefit and support full approval.
Extends atacicept into additional autoimmune kidney diseases through the PIONEER study and is developing the preclinical BAFF/APRIL program VT-109. MAU868, a monoclonal antibody for BK virus infection in transplant recipients, remains under evaluation for a next clinical study.
Runs a focused nephrology commercial operation in the United States, with potential partnerships for some markets abroad, and relies on contract manufacturers. Commercial prospects and continued approval are concentrated in TRUTAKNA, whose core rights are licensed from an affiliate of Merck KGaA.
Company facts
Key statistics
Year to date −29.7% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | Raymond James | Reiterate | Strong Buy | $37 | $84 | |
| Jul 8, 2026 | Wedbush | Reiterate | Neutral | $33 | $43 | |
| Jul 8, 2026 | Guggenheim | Reiterate | Buy | $76 | ||
| Jul 8, 2026 | Needham | Target | $125 | |||
| Jul 8, 2026 | H.C. Wainwright | Reiterate | Buy | $90 | $125 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | −$1.58 | −$1.52 | +3.8% | $1.3M | — | — | −4.08% |
| May 7, 2026Q1 FY26 | −$1.33 | −$1.69 | −27.2% | $426.0K | — | — | +0.86% |
| Feb 26, 2026Q4 FY25 | −$1.34 | −$1.39 | −3.7% | — | — | — | −3.68% |
| Nov 5, 2025Q3 FY25 | −$1.20 | −$1.26 | −5.0% | — | — | — | +4.65% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | −$563.0K | $0 | $1.1M | −$256.0K | $0 | |
| Operating income | −$57.2M | −$80.1M | −$83.9M | −$94.2M | −$125.1M | −$112.5M | |
| Net income | −$51.7M | −$76.5M | −$80.3M | −$91.1M | −$121.0M | −$109.5M | |
| Diluted EPS | −$0.81 | −$1.20 | −$1.26 | −$1.39 | −$1.69 | −$1.52 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $499.2M · Total debt $75.2M · Total assets $533.0M · Shareholders' equity $407.8M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 71.78M · Float 58.51M · 81.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.75M | 8.01% | 13F | Aug 7, 2026 |
| Avoro Capital Advisors LLC | 5.72M | 7.97% | 13F | Aug 14, 2026 |
| T. Rowe Price Associates, Inc. | 4.57M | 6.40% | 13G | May 15, 2026 |
| State Street Corporation | 4.15M | 5.80% | 13G | Aug 7, 2026 |
| Price T Rowe Associates Inc /MD/ | 4.01M | 5.59% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 12, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −18,500 | $36.74 |
| Jun 23, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −18,500 | $37.93 |
| Jul 7, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −46,250 | $42.30 |
| Apr 14, 2026 | Marshall Fordyce | director, officer: PRESIDENT AND CEO | −22,951 | $44.05 |
| Feb 23, 2026 | Laurence Matthew Skelton | officer: Chief Commercial Officer | −1,582 | $41.98 |
Peers
- Novartis (ADR)
Approved IgAN drugs plus anti-APRIL pipeline pressure
- Vertex Pharmaceuticals
Direct dual BAFF/APRIL challenger in IgAN and pMN
- Travere Therapeutics
Approved FILSPARI franchise in IgAN and rare kidney disease
- AstraZeneca (ADR)
Adjacent IgAN pressure through terminal C5 complement inhibition
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Vera Therapeutics | $33.91 | −0.76% | $2.45B | — | — | — | — |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Vertex Pharmaceuticals | $540.78 | −0.17% | $137.48B | 31.5 | 27.8 | 10.9 | +12.5% |
| Travere Therapeutics | $65.49 | −0.24% | $6.11B | — | 33.5 | 10.3 | +48.2% |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Median | 24.4 | 22.1 | 7.8 | +9.4% |