VERA - Vera sheds over a tenth to lose post IPO momentum

Recently IPO’ed clinical-stage biotech company Vera Therapeutics ([[VERA]] -10.3%) is trading lower today for the third consecutive day.Having lost more than a tenth value so far, the company appears to be on track to record its biggest one-day loss since its public debut on May 14.However, the stock has well outperformed the broader. The ~70.9% gain recorded since opening at $11.41 per share has transformed the company from a microcap to a small-cap despite a modest~4.5% rise on the first day of trading.On May 20, Vera rose ~26.9% continuing its five-day winning streak but it has pared some gains after two consecutive days of losses leading up to the sharp drop today.Vera’s only candidate, atacicept is undergoing studies as a treatment for the rare autoimmune disease IgA nephropathy.

For further details see:

Vera sheds over a tenth to lose post IPO momentum