Vera Therapeutics jumps on positive results in IgA nephropathy
Shares of US clinical-stage biotech firm Vera Therapeutics (Nasdaq: VERA) leapt more than 19% to $30.18, after the company announced positive 72-week data from the open label extension (OLE) period of its Phase IIb ORIGIN clinical trial of atacicept in participants with IgA nephropathy (IgAN).
In aggregate, the 72-week data with atacicept are consistent with a profile of true disease modification in IgAN, an autoimmune kidney disease also known as Berger’s disease, the company noted.
Vera acquired rights to atacicept from Germany’s Merck KGaA (MRK: DE) in late 2020, paying up to a total of $720 million, conditional on certain development and commercial milestones, plus royalties on any future net sales, as well as a 10% investment by Merck in the US firm.
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