Vera Therapeutics, Inc.

Listed Company

VERACIK 0001831828NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-299.62M

Total Assets

$734.73M

Equity

$604.52M

Shares Out

71.78M

Op. Cash Flow

$-241.10M

VERA$38.45+61.93% · past yearDBEQ Basic

Daily closing prices

Business

Vera Therapeutics is a late-stage biopharmaceutical company developing treatments for autoimmune kidney disease and related conditions. Its lead candidate, atacicept, a TACI-Fc fusion protein, blocks BAFF and APRIL cytokines and is in Phase 3 trials for immunoglobulin A nephropathy. The company also develops MAU868, a monoclonal antibody against BK virus for transplant recipients, and VT-109, a dual BAFF/APRIL inhibitor. Vera plans U.S. and international commercialization upon regulatory approval.

Summary from 10-K filed 2026-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	215	126	78	69	22
General and administrative	100	41	24	22	12
Total operating expenses	315	167	102	91	34
Loss from operations	−315	−167	−102	−91	−34
Interest income	24	21	8	2	15,000
Interest expense	−8	−8	−4	—	—
Other (expense) income, net	−1	2	2	2	0
Total other income, net	16	15	6	2	2
Loss before provision for income taxes	−300	−152	−96	−89	−33
Provision for income taxes	−1,000	−1,000	−1,000	−1,000	−1,000
Net loss	−300	−152	−96	−89	−33
Change in fair value on marketable securities	393,000	142,000	251,000	−224,000	—
Comprehensive loss	−299	−152	−96	−89	—
Net loss per share attributable to common stockholders, basic	−4.66	−2.75	−2.25	−3.35	−2.43
Net loss per share attributable to common stockholders, diluted	−4.66	−2.75	−2.25	−3.35	−2.43
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic	64	55	43	27	13
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted	64	55	43	27	13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	355	93	46	43	80
Marketable securities	360	548	115	71	0
Prepaid expenses and other assets, current	14	10	11	11	3
Total current assets	729	651	172	126	83
Property and equipment, net	1	960,000	92,000	51,000	0
Operating lease right-of-use assets	2	3	3	5	7
Prepaid expenses and other assets, noncurrent	3	131,000	482,000	162,000	51,000
Total assets	735	656	176	131	84
Accounts payable	22	8	11	12	1
Operating lease liabilities	549,000	1	2	3	0
Accrued expenses and other liabilities, current	31	16	9	11	6
Total current liabilities	53	25	22	26	8
Long-term debt	75	51	50	25	5
Operating lease liabilities, noncurrent	2	2	1	4	0
Total liabilities	130	79	74	55	14
Class A common stock, $0.001 par value; 500,000,000 shares authorized as of December 31, 2025 and 2024; 71,267,429 and 63,559,858 shares issued and outstanding as of December 31, 2025 and 2024, respectively	71,000	64,000	44,000	28,000	—
Additional paid-in capital	1,365	1,038	410	290	194
Accumulated other comprehensive income	786,000	393,000	251,000	−224,000	0
Accumulated deficit	−761	−461	−309	−213	−124
Total stockholders' equity	605	577	102	77	70
Total liabilities and stockholders' equity	735	656	176	131	84

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	468,000	105,000	21,000	—	—
Accretion of discount and amortization of premium on purchase of debt securities	−7	−9	−4	—	—
Accretion of loan exit fee and amortization of loan costs, net	2	810,000	326,000	—	—
Reduction in the carrying amount of operating lease right-of-use assets	1	2	2	2	0
Stock-based compensation	38	21	11	9	3
Payment of VT-109 license fee	800,000	0	0	—	—
Prepaid expense and other current assets	−4	981,000	173,000	−8	−2
Other assets	51,000	351,000	−262,000	−111,000	−51,000
Accounts payable	14	−3	−873,000	11	475,000
Accrued and other liabilities	14	7	−2	7	5
Operating lease liabilities	−1	−2	−3	−3	0
Net cash used in operating activities	−241	−135	−92	−68	−24
Payment of VT-109 license fee	−800,000	0	0	—	—
Purchase of property and equipment	−630,000	−972,000	−63,000	−62,000	0
Purchase of marketable securities	−310	−703	−225	−148	0
Proceeds from maturities of marketable securities	506	275	176	78	0
Proceeds from sale of marketable securities	0	4	10	0	—
Net cash provided by (used in) investing activities	194	−425	−39	−71	−4
Proceeds from exercise of stock options and employee stock purchase plan	7	13	1	2	550,000
Proceeds from refinancing under loan and security agreement, net	23	0	0	—	—
Payment of deferred issuance costs related to unfunded loan commitments	−4	0	—	—	—
Proceeds from borrowings, net of costs	0	0	25	20	5
Repurchase of common stock	0	−13,000	0	—	—
Proceeds from issuance of common stock in follow-on offerings	300	633	115	86	0
Payment of issuance costs and underwriting fees related to follow-on offerings	−18	−39	−7	−6	0
Net cash provided by financing activities	309	607	134	102	54
Net increase in cash and cash equivalents	262	47	2	−36	26
Cash paid for interest expense	7	7	3	895,000	17,000
Purchases of property and equipment included in accounts payable	252,000	0	0	—	—
Follow-on offering costs included in accounts payable	71,000	0	0	—	—
Follow-on offering costs included in accrued and other liabilities	343,000	0	0	—	—

Filings

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Frequently asked questions

What is Vera Therapeutics, Inc.'s CIK number?

Vera Therapeutics, Inc.'s SEC CIK number is 0001831828 (1831828). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Vera Therapeutics, Inc.'s SEC filings?

All of Vera Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Vera Therapeutics, Inc. last report earnings?

Vera Therapeutics, Inc. (VERA) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-210351). This is Vera Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Vera Therapeutics, Inc.'s most recent earnings 8-K?

Vera Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-210351. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Vera Therapeutics, Inc.'s latest earnings 8-K →
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