** Shares of drug developer Vera Therapeutics VERA.O fall 33.1% to $20.50 premarket
** Rival Otsuka's 4578.T experimental drug for a type of kidney disease showed over 50% reduction in protein in patient's urine in a late-stage trial, co says
** VERA's shares surged 60% on Monday after its experimental kidney disease drug, atacicept, helped significantly reduce harmful levels of proteins in the urine in a late-stage study
** Both companies are developing drugs to treat IgA nephropathy, which causes abnormal protein buildup in the kidneys and could eventually lead to the organ's failure
** Vera's drug atacicept reduced protein levels in patients' urine by 46%, compared with a 7% reduction with a placebo
** Up to last close, VERA down 27.6% YTD
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com))
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