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Vera Therapeutics, Inc., a clinical stage biotechnology company, focuses on the development and commercialization of transformative treatments for patients with immunological diseases. The company offers atacicept, a fully humanized TACI-Fc fusion protein that binds B-cell activating factor (BAFF) and A proliferation-inducing ligand (APRIL), which is self-administered at home as a subcutaneous injection being evaluated for the treatment of immunoglobulin A nephropathy (IgAN) and other autoimmune kidney diseases. It is also developing MAU868, a human monoclonal antibody for the treatment of BK viremia infections that has completed phase 2 clinical trial; and VT-109, a novel BAFF/APRIL dual-inhibitor B cell maturation antigen (BCMA) molecule to treat B cell mediated autoimmune diseases. The company was formerly known as Trucode Gene Repair, Inc. and changed its name to Vera Therapeutics, Inc. in April 2020. Vera Therapeutics, Inc. was incorporated in 2016 and is headquartered in Brisbane, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-292M | $-300M | $-242M | -49.6% | - | 96.9% |
| 2024 | $0M | $-144M | $-152M | $-136M | -26.4% | - | 58.5% |
| 2023 | $0M | $-92M | $-96M | $-92M | -94.4% | - | 7.8% |
| 2022 | $0M | $-88M | $-89M | $-68M | -115.8% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 0 | 0 | 0 |
| Operating Revenue | - | 0 | 0 | 0 | 0 |
| Operating Expense | - | 90.90 | 102.01 | 167.17 | 315.47 |
| Research And Development | - | 68.99 | 78.22 | 126.17 | 215.26 |
| Selling General And Administration | - | 21.91 | 23.79 | 41 | 100.22 |
| Total Expenses | - | 90.90 | 102.01 | 167.17 | 315.47 |
| Operating Income | - | -90.90 | -102.01 | -167.17 | -315.47 |
| Total Operating Income As Reported | - | -90.90 | -102.01 | -167.17 | -315.47 |
| EBITDA | - | -88.06 | -92.18 | -144.42 | -291.62 |
| Normalized EBITDA | - | -87.25 | -92.18 | -144.42 | -291.62 |
| EBIT | - | -88.06 | -92.20 | -144.52 | -292.08 |
| Interest Income | - | 1.75 | 7.98 | 20.71 | 24.48 |
| Interest Expense | - | 0.99 | 3.79 | 7.63 | 7.53 |
| Net Interest Income | - | 0.76 | 4.19 | 13.09 | 16.95 |
| Other Non Operating Income Expenses | - | 1.90 | 1.83 | 1.94 | -1.09 |
| Other Income Expense | - | 1.09 | 1.83 | 1.94 | -1.09 |
| Interest Income Non Operating | - | 1.75 | 7.98 | 20.71 | 24.48 |
| Interest Expense Non Operating | - | 0.99 | 3.79 | 7.63 | 7.53 |
| Net Non Operating Interest Income Expense | - | 0.76 | 4.19 | 13.09 | 16.95 |
| Pretax Income | - | -89.06 | -95.99 | -152.15 | -299.61 |
| Tax Provision | - | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.17 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income From Continuing And Discontinued Operation | - | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income From Continuing Operation Net Minority Interest | - | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income | - | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income Common Stockholders | - | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income Including Noncontrolling Interests | - | -89.06 | -95.99 | -152.15 | -299.62 |
| Normalized Income | - | -88.42 | -95.99 | -152.15 | -299.62 |
| Diluted NI Availto Com Stockholders | - | -89.06 | -95.99 | -152.15 | -299.62 |
| Basic Average Shares | 13.44 | 26.57 | 42.71 | 55.33 | - |
| Diluted Average Shares | 13.44 | 26.57 | 42.71 | 55.33 | - |
| Reconciled Depreciation | - | -0.85 | 0.02 | 0.10 | 0.47 |
| Total Unusual Items | 1.80 | -0.81 | -0.05 | - | - |
| Total Unusual Items Excluding Goodwill | 1.80 | -0.81 | -0.05 | - | - |
| Special Income Charges | 2.69 | 0 | - | - | - |
| Gain On Sale Of Business | 2.69 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | 0 | - | - | - | - |
| Gain On Sale Of Security | -0.89 | -0.81 | -0.05 | - | - |
| General And Administrative Expense | - | 21.91 | 23.79 | 41 | 100.22 |
| Other Gand A | - | 21.91 | 23.79 | 41 | 100.22 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vera Therapeutics, Inc.this co. | VERA | $2.4B | -8.00 | 3.96 | -49.6% | -7.27 |
| Tarsus Pharmaceuticals, Inc. | TARS | $2.6B | -39.09 | 7.56 | -19.3% | -45.85 |
| Guardian Pharmacy Services, Inc. | GRDN | $2.6B | 52.49 | 12.56 | 23.9% | 26.50 |
| IDEAYA Biosciences, Inc. | IDYA | $2.6B | -22.58 | 2.51 | -11.1% | -16.04 |
| Heartflow, Inc. | HTFL | $2.5B |
| - |
| - |
| - |
| - |
| -21.27 |
| 8.26 |
| -38.8% |
| -26.44 |
| Celldex Therapeutics, Inc. | CLDX | $2.3B | -9.08 | 4.46 | -49.1% | -8.18 |
| Axogen, Inc. | AXGN | $2.3B | - | 17.49 | -12.2% | 4471.19 |
| Immunome, Inc. | IMNM | $2.2B | -10.49 | 3.51 | -33.5% | -7.14 |
| Mineralys Therapeutics, Inc. | MLYS | $2.2B | -14.28 | 3.41 | -23.9% | - |
| Peer Median | - | -14.28 | 6.01 | -21.6% | -8.18 | |