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Investing.com -- Vera Therapeutics , Inc. (NASDAQ:VERA) reported a wider-than-expected loss for the first quarter of 2025, sending its shares down 2.9% in after-hours trading.
The late-stage biotechnology company, focused on developing treatments for serious immunological diseases, posted a net loss of $0.81 per share for the quarter ended March 31, 2025. This was $0.08 worse than the analyst estimate of a $0.73 per share loss. The company’s net loss expanded to $51.7 million, compared to a $28.4 million loss in the same quarter last year.
Despite the earnings miss, Vera Therapeutics highlighted progress in its lead program, atacicept, for the treatment of IgA Nephropathy (IgAN). The company expects to announce primary endpoint results from its pivotal Phase 3 ORIGIN trial in the second quarter of 2025, with plans to submit a Biologics License Application (BLA) to the U.S. FDA in the fourth quarter of 2025.
Marshall Fordyce, M.D., Founder and CEO of Vera Therapeutics, stated, "We are rapidly approaching a significant Vera milestone with the upcoming primary endpoint results from the pivotal atacicept ORIGIN 3 trial, and if successful, we expect this to enable a BLA submission to the FDA in the second half of this year, which may allow approval and commercial launch in 2026."
The company reported $589.8 million in cash, cash equivalents, and marketable securities as of March 31, 2025. Management believes this is sufficient to fund operations through potential approval and U.S. commercial launch of atacicept.
Vera Therapeutics also announced an expanded development program for atacicept across multiple autoimmune kidney diseases, including primary membranous nephropathy, focal segmental glomerulosclerosis, and minimal change disease.
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