Vera Therapeutics Q3 loss narrows, beats analyst estimates
VERA•Vera Therapeutics reported a third-quarter net loss of $93.71 million, or $1.30 per share, beating analyst estimates of $117.14 million and $1.62 per share. Its TRUTAKNA launch generated $10.28 million in net product revenue.
1. Quarterly results
Vera Therapeutics reported a third-quarter net loss of $93.71 million and a loss of $1.30 per share. Analysts had estimated a net loss of $117.14 million and a loss of $1.62 per share. Operating expenses were $105.98 million.
2. TRUTAKNA launch
The U.S. launch of TRUTAKNA generated $10.28 million in net product revenue and approximately 700 patient start forms. Selling, general and administrative expenses rose as the company invested in the launch, while research and development expenses fell as manufacturing costs were capitalized as inventory after accelerated approval.
3. Regulatory outlook
The company expects potential full FDA approval of TRUTAKNA for IgAN in mid-2027 and plans to submit a Marketing Authorisation Application to the European Medicines Agency in the first quarter of 2027.
