Business
Vera Therapeutics Provides Business Update and Reports Third Quarter 2022 Financial Results
Phase 2b ORIGIN clinical trial of atacicept in IgA nephropathy topline data planned to be presented in early Q1 2023Initiated pivotal Phase 3 COMPASS clinical
About this update from Vera Therapeutics, Inc.
[{"type":"text","content":"Phase 2b ORIGIN clinical trial of atacicept in IgA nephropathy topline data planned to be presented in early Q1 2023Initiated pivotal Phase 3 COMPASS clinical trial of atacicept in lupus nephritis Strong balance sheet with $114.4 million in cash, cash equivalents, and marketable securities as of September 30, 2022; together with credit facility, are expected to fund operations to Q2 2024 BRISBANE, Calif., Nov. 09, 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 September 30, 2022. “During the third quarter of 2022, we continued to make progress advancing our late-stage clinical pipeline of atacicept and MAU868,” said Marshall Fordyce, M.D., Founder and CEO of Vera Therapeutics. “At the American Society of Nephrology (ASN) Kidney Week 2022 Annual Meeting, we were pleased to share new data supporting the disease modifying mechanism of action of atacicept. Atacicept targets B-cells, and we have now shown that it reduces the first three hits of IgA nephropathy (IgAN) pathogenesis – serum galactose-deficient IgA1 (Gd-IgA1), anti-Gd-IgA1, and now immune complex levels. Our ongoing Phase 2b ORIGIN clinical trial will demonstrate how atacicept has the potential to improve kidney function, as measured by proteinuria, and topline results are expected to be announced in early first quarter of 2023. Data from the ORIGIN trial are expected to support the initiation of a pivotal Phase 3 clinical trial of atacicept in 2023. IgAN is a common cause of kidney failure and there is a high unmet medical need for treatment of IgAN globally.” “We are also pleased to announce initiation of our pivotal Phase 3 COMPASS clinical trial of atacicept in lupus nephritis. This is a significant next step for the program, as we believe atacicept has the potential to be a best-in-disease treatment for lupus nephritis patients. There is an immense unmet medical need, with a high rate of morbidity and mortality, with many patients progressing to end-stage renal disease. We believe lupus nephritis represents a multi-billion-dollar aggregate annual market opportunity for novel therapeutics in the United States, Europe ...