Business
Vera Therapeutics Provides Business Update and Reports First Quarter 2022 Financial Results
Phase 2b ORIGIN clinical trial of atacicept on track, topline data expected Q4 2022Initiation of Phase 3 pivotal clinical trial of atacicept in lupus
About this update from Vera Therapeutics, Inc.
[{"type":"text","content":"Phase 2b ORIGIN clinical trial of atacicept on track, topline data expected Q4 2022Initiation of Phase 3 pivotal clinical trial of atacicept in lupus nephritis planned for 2H-2022, following positive clinical strategy meeting with FDA earlier this year Results from a 12-week interim analysis of Phase 2 study of MAU868 in kidney transplant recipients planned in June 2022; Phase 2b or Phase 3 clinical trial of MAU868 expected to initiate in 2023Strong balance sheet with approximately $151 million in cash, cash equivalents and marketable securities as of March 31, 2022 and access to a $45.0 million credit facility expected to fund operations to Q2 2024 BRISBANE, Calif., May 16, 2022 (GLOBE NEWSWIRE) -- Vera Therapeutics, Inc. (Nasdaq: VERA), a late-stage biotechnology company focused on developing and commercializing transformative treatments for patients with serious immunological diseases, today reported its business highlights and financial results for the quarter ended March 31, 2022. “We continue to successfully execute our development strategy in early 2022 and are on track to achieve several key milestones and announce clinical data across our development pipeline throughout the year. We are positioned to fund our current programs and operations with current cash, cash equivalents, and marketable securities plus available credit, to the second quarter of 2024,” said Marshall Fordyce, MD, founder and CEO of Vera Therapeutics. “Enrollment in the ORIGIN study, which is evaluating the potential for atacicept to treat patients who suffer from the devastating effects of kidney disease, remains on track to be completed in mid-2022. Topline results from the study are expected to be presented in the fourth quarter 2022, which we expect will be used to support the initiation of a pivotal Phase 3 clinical trial of atacicept in 2023. In addition, we are preparing to initiate a Phase 3 pivotal clinical trial for atacicept to treat lupus nephritis in the second half of this year. This is an exciting next step for this program, as we believe that atacicept has the potential to be a best-in-disease treatment for lupus nephritis patients. This is a high unmet medical need, with a high rate of morbidity and mortality, and many patients progressing to end-stage renal disease.” “During the past quarter, we hosted a KOL event to help educate the...