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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% | - | - |
| 2024 | $0M | $-144M | $-152M | $-136M | -26.4% | - | - |
| 2023 | $0M | $-92M | $-96M | $-92M | -94.4% | - | - |
| 2022 | $0M | $-88M | $-89M | $-68M | -115.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0 | 0 | 0 | 0 |
| Operating Expense | 90.90 | 102.01 | 167.17 | 315.47 |
| Operating Income | -90.90 | -102.01 | -167.17 | -315.47 |
| EBITDA | -88.06 | -92.18 | -144.42 | -291.62 |
| EBIT | -88.06 | -92.20 | -144.52 | -292.08 |
| Pretax Income | -89.06 | -95.99 | -152.15 | -299.61 |
| Tax Provision | 0 | 0 | 0 | 0 |
| Net Income | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income Common Stockholders | -89.06 | -95.99 | -152.15 | -299.62 |
| Total Expenses | 90.90 | 102.01 | 167.17 | 315.47 |
| Interest Expense | 0.99 | 3.79 | 7.63 | 7.53 |
| Interest Income | 1.75 | 7.98 | 20.71 | 24.48 |
| Research And Development | 68.99 | 78.22 | 126.17 | 215.26 |
| Selling General And Administration | 21.91 | 23.79 | 41 | 100.22 |
| Normalized EBITDA | -87.25 | -92.18 | -144.42 | -291.62 |
| Normalized Income | -88.42 | -95.99 | -152.15 | -299.62 |
| Basic EPS | -3.35 | -2.25 | -2.75 | 0 |
| Diluted EPS | -3.35 | -2.25 | -2.75 | 0 |
| Tax Effect Of Unusual Items | -0.17 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0 |
| Total Unusual Items | -0.81 | -0.05 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -0.81 | -0.05 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -89.06 | -95.99 | -152.15 | -299.62 |
| Reconciled Depreciation | -0.85 | 0.02 | 0.10 | 0.47 |
| Net Interest Income | 0.76 | 4.19 | 13.09 | 16.95 |
| Net Income From Continuing And Discontinued Operation | -89.06 | -95.99 | -152.15 | -299.62 |
| Total Operating Income As Reported | -90.90 | -102.01 | -167.17 | -315.47 |
| Diluted Average Shares | 26.57 | 42.71 | 55.33 | 0 |
| Basic Average Shares | 26.57 | 42.71 | 55.33 | 0 |
| Diluted NI Availto Com Stockholders | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income Including Noncontrolling Interests | -89.06 | -95.99 | -152.15 | -299.62 |
| Net Income Continuous Operations | -89.06 | -95.99 | -152.15 | -299.62 |
| Other Income Expense | 1.09 | 1.83 | 1.94 | -1.09 |
| Other Non Operating Income Expenses | 1.90 | 1.83 | 1.94 | -1.09 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Gain On Sale Of Business | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | -0.81 | -0.05 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0.76 | 4.19 | 13.09 | 16.95 |
| Interest Expense Non Operating | 0.99 | 3.79 | 7.63 | 7.53 |
| Interest Income Non Operating | 1.75 | 7.98 | 20.71 | 24.48 |
| General And Administrative Expense | 21.91 | 23.79 | 41 | 100.22 |
| Other Gand A | 21.91 | 23.79 | 41 | 100.22 |
| Operating Revenue | 0 | 0 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vera Therapeutics, Inc.this co. | VERA | $2.6B | - | 4.23 | -49.6% | -6.09 |
| Warby Parker Inc. | WRBY | $2.6B | 2147.00 | 7.15 | 0.4% | 56.61 |
| Tarsus Pharmaceuticals, Inc. | TARS | $2.6B | - | 7.52 | -19.3% | -32.50 |
| Immunome, Inc. | IMNM | $2.6B | - | 4.09 | -33.5% | -9.20 |
| Enliven Therapeutics, Inc. | ELVN | $2.6B |
| - |
| 5.48 |
| -22.6% |
| -17.36 |
| Heartflow, Inc. | HTFL | $2.5B | - | 8.38 | -38.8% | -37.97 |
| Celldex Therapeutics, Inc. | CLDX | $2.5B | - | 4.06 | -49.1% | -5.72 |
| Disc Medicine, Inc. | IRON | $2.5B | - | 3.38 | -28.7% | -7.48 |
| IDEAYA Biosciences, Inc. | IDYA | $2.5B | - | 2.41 | -11.1% | -11.82 |
| Peer Median | - | 2147.00 | 4.79 | -25.6% | -10.51 | |