** Shares of drug developer Vera Therapeutics VERA.O jump 24% to $57.59 in premarket trading

** Co says the U.S. FDA accepted priority review for its experimental drug atacicept to treat IgA nephropathy, a serious kidney disease

** IgA nephropathy is an autoimmune condition that can lead to kidney failure in about half of patients, says co

** FDA decision expected by July 7 - VERA

** Co says late-stage trial showed significant reduction in urine protein levels, a key marker of kidney damage

** Drug can be self-administered weekly at home; safety profile similar to placebo, says co

** 'Priority review' status is assigned to drugs that offer a significant improvement over other available treatments for a specific disorder or would provide a treatment option where none exists

** As of last close, stock down ~8% over the past year

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))