Vera Therapeutics Shares Climb 14% on Positive Results in Kidney Disease Study

Dow Jones

2024/10/28

By Jasmine Li

Shares of Vera Therapeutics rose after trial results for its atacicept treatment showed potential to prevent kidney failure in patients with immunoglobulin A nephropathy.

The biotechnology company's stock climbed 14.18% in Monday morning trading. Shares have more than quadrupled year over year.

Brisbane, Calif.-based Vera Therapeutics said Saturday evening the phase 2b trial showed stabilized kidney function through 96 weeks of long-term follow-up in patients with the chronic kidney disease that occurs when the protein IgA builds up in the kidneys.

"The stabilization of kidney function through two years -- the longest duration of data among B cell modulators to date -- positions atacicept as a potential best- and first-in-class treatment option for patients with IgAN," said Chief Executive Marshall Fordyce.

Fordyce said the company plans to announce topline results from the phase 3 trial in the second quarter of 2025, and apply for a biologics license application from the Food and Drug Administration later in the year.

Write to Jasmine Li at jasmine.li@wsj.com

(END) Dow Jones Newswires

October 28, 2024 10:31 ET (14:31 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Shares have more than quadrupled year over year. \n\n\n  Brisbane, Calif.-based Vera Therapeutics said Saturday evening the phase 2b trial showed stabilized kidney function through 96 weeks of long-term follow-up in patients with the chronic kidney disease that occurs when the protein IgA builds up in the kidneys. \n\n\n  \"The stabilization of kidney function through two years -- the longest duration of data among B cell modulators to date -- positions atacicept as a potential best- and first-in-class treatment option for patients with IgAN,\" said Chief Executive Marshall Fordyce. \n\n\n  Fordyce said the company plans to announce topline results from the phase 3 trial in the second quarter of 2025, and apply for a biologics license application from the Food and Drug Administration later in the year. \n\n\n \n\n\n  Write to Jasmine Li at jasmine.li@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 28, 2024 10:31 ET (14:31 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}