CLTEF - Vera Therapeutics: Soaring On IgAN Data But Full Approval A Distant Prospect
2024-01-25 15:30:27 ET
Summary
- Vera Therapeutics, Inc. stock price soared over 35% today as it announced positive results from the open label extension of its Phase 2b ORIGIN clinical trial for atacicept in IgA nephropathy.
- The company's stock is up over 160% in the past year and is trading at its highest value since late 2021.
- Vera's CEO believes that atacicept has the potential to be a disease-modifying treatment for IgA nephropathy, and the ongoing Phase 3 trial is progressing well.
- The competition in igAN has been intensifying, however, and with no approval expected until 2025, Vera's stock price looks a little vulnerable in the short term. Short interest recently climbed >20%.
Investment Overview
Vera Therapeutics, Inc. ( VERA ) shareholders will be celebrating today, as the Brisbane, California-based company shared positive 72-week data from the open label extension ("OLE") period of its Phase 2b ORIGIN clinical trial of its lead candidate atacicept in participants with IgA nephropathy (IgAN)....
Vera Therapeutics: Soaring On IgAN Data, But Full Approval A Distant Prospect