Logo

VERA

Vera Therapeutics, Inc.

VERA

Vera Therapeutics, Inc. • NASDAQ
$33.75 ▲ 1.26% (+0.42)
Market Cap $2.16 B
52w High $51.27
52w Low $18.53
Dividend Yield 0%
P/E -8.46
Volume 649.32K
Outstanding Shares 63.93M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $83.368M ▲ $-80.293M ▼ 0% $-1.26 ▼ $-77.769M ▼
Q2-2025 $0 $79.578M ▲ $-76.531M ▼ 0% $-1.2 ▼ $-74.094M ▼
Q1-2025 $0 $57.194M ▲ $-51.694M ▼ 0% $-0.81 ▲ $-49.817M ▼
Q4-2024 $0 $48.914M ▼ $-43.425M ▲ 0% $-0.85 $-41.498M ▲
Q3-2024 $0 $49.801M $-46.632M 0% $-0.85 $-44.672M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $497.389M ▼ $517.503M ▼ $118.623M ▲ $398.88M ▼
Q2-2025 $556.827M ▼ $578.528M ▼ $110.251M ▲ $468.277M ▼
Q1-2025 $589.834M ▼ $610.167M ▼ $75.168M ▼ $534.999M ▼
Q4-2024 $640.852M ▲ $655.681M ▲ $78.526M ▼ $577.155M ▲
Q3-2024 $353.309M $368.56M $79.502M $289.058M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-80.293M ▼ $-61.906M ▼ $69.761M ▲ $797K ▼ $8.652M ▲ $-62.039M ▼
Q2-2025 $-76.531M ▼ $-54.798M ▼ $28.544M ▲ $20.285M ▲ $-5.969M ▲ $-55.006M ▼
Q1-2025 $-51.694M ▼ $-54.406M ▼ $15.317M ▲ $1.533M ▼ $-37.556M ▼ $-54.593M ▼
Q4-2024 $-43.425M ▲ $-39.182M ▼ $-221.383M ▼ $325.955M ▲ $65.39M ▲ $-39.827M ▲
Q3-2024 $-46.632M $-36.885M $38.317M $739K $2.171M $-61.994M

Five-Year Company Overview

Income Statement

Income Statement Vera is still a pure development‑stage biotech company, so it has no product revenue yet. The income statement is driven almost entirely by research and operating expenses, which means consistent losses each year. Those losses have grown as the company has scaled up clinical trials and organizational infrastructure, which is typical at this stage. The pattern suggests the business model is currently all about investing in future potential rather than near‑term profitability, and it will likely remain loss‑making until a product is approved and commercialized, if that happens.

Balance Sheet

Balance Sheet The balance sheet shows a sizeable build‑up of assets and shareholder equity in the most recent year, indicating that Vera has raised significant capital to fund its programs. Cash is a key part of its assets, but it is still modest relative to the ongoing cash burn, so future funding needs remain a consideration. Debt exists but looks relatively limited compared with equity, which reduces financial leverage risk for now. Overall, the company appears better capitalized than in prior years, but the structure is still highly dependent on equity financing rather than internally generated funds.

Cash Flow

Cash Flow Cash flow is negative from operations each year, reflecting spending on trials, personnel, and overhead without any sales to offset it. Free cash flow is also negative, though the company does not appear to be investing heavily in physical assets, which keeps capital spending low. The key driver is therefore how quickly cash is used to run the pipeline versus how much was raised from investors. Sustainability of the current burn rate will depend on access to new capital or eventual product approvals and partnerships, since the business is not self‑funding yet.

Competitive Edge

Competitive Edge Vera’s competitive position is centered on a focused strategy in autoimmune kidney diseases, with atacicept as its flagship asset. The drug’s dual‑target mechanism and encouraging clinical trial results give the company a differentiated scientific story in IgA nephropathy and related conditions. At the same time, the treatment space is attracting multiple competitors, including larger players, so market access, speed to approval, and quality of outcomes will matter a lot. Vera’s leadership experience and early data help create a moat, but it is still unproven in the real‑world commercial setting and vulnerable to competing therapies and regulatory outcomes.

Innovation and R&D

Innovation and R&D The company is heavily research‑driven, with a pipeline that expands its core B‑cell and BAFF/APRIL expertise into several kidney and transplant‑related diseases. Atacicept is the centerpiece, but Vera is also advancing a next‑generation dual inhibitor (VT‑109) and an antibody for BK virus, which together could broaden its impact if they succeed. This shows a clear attempt to build a franchise rather than a single‑asset story. However, every program carries typical biotech risks: clinical setbacks, safety concerns, slower‑than‑expected recruitment, and regulatory uncertainty can all derail timelines and value creation.

Summary

Vera is an early‑stage biotech focused on high‑need kidney and transplant indications, with no revenue yet and a business model centered on R&D investment. Financially, it has strengthened its capital base but continues to post losses and negative cash flow, making it reliant on external funding until a product can reach the market. Scientifically, the company appears to have a compelling mechanism in atacicept, supported by promising data and an expanding pipeline built around similar biology. The opportunity is significant if clinical and regulatory milestones are met, but execution, competition, and financing remain key sources of uncertainty and risk for the story going forward.

NEWS

November 26, 2025 · 4:05 PM UTC

Vera Therapeutics Appoints Veteran Biotech Executive James R. Meyers to its Board of Directors

Read more

November 24, 2025 · 7:25 AM UTC

Vera Therapeutics to Participate at Upcoming Investor Conferences

Read more

November 10, 2025 · 7:29 AM UTC

Vera Therapeutics to Participate in the TD Cowen Immunology & Inflammation Summit

Read more

November 7, 2025 · 6:27 PM UTC

Vera Therapeutics Submits Biologics License Application to U.S. FDA through Accelerated Approval Program for Atacicept for the Treatment of Adults with IgA Nephropathy

Read more

November 7, 2025 · 4:05 PM UTC

Vera Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Read more