VERA - Vera Therapeutics slips on $75M stock offering

• Vera Therapeutics ( NASDAQ: VERA ), a clinical-stage biotech focused on immunological diseases lost ~7% in the post-market trading Wednesday after announcing a public offering to issue and sell 75M shares of its Class A common stock.
• A decision to grant a 30-day option for underwriters is also under consideration allowing them to purchase up to an additional 15% shares of Class A common stock sold in the offering.
• The offering is subject to market and other closing conditions, the company said, adding that there is no assurance whether or when it will be completed or regarding the terms and actual size.
• Vera ( VERA ) has selected J.P. Morgan, Cowen and Evercore ISI as joint book-running managers for the offering while LifeSci Capital serves as the lead manager for the offering.
• Read: Seeking Alpha contributor BiotechValley Insights maintained its Sell rating on Vera ( VERA ) on Tuesday citing a mid-stage readout for the company’s lead asset atacicept in the kidney inflammation disorder IgA nephropathy

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