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what it is
Vera Therapeutics develops medicines for immune diseases, led by atacicept and MAU868.
how it gets paid
Last year Vera Therapeutics made n/a in revenue.
what just happened
The latest quarter showed a -$3.27 loss per share, and the filing still gave you no revenue number.
At a glance
B+ balance sheet — decent shape, but not bulletproof
-$4.66 fy2025 eps est
$2B fy2026 rev est
1.0 beta
~$3B market cap
xvary composite: 58/100 — below average
What they do
Vera Therapeutics develops medicines for immune diseases, led by atacicept and MAU868.
The moat is the pipeline. Atacicept blocks BLyS and APRIL, two signals that help B cells make antibodies. Your money is backing a lab with 112 employees and two lead programs, not a factory.
How they make money
n/a
annual revenue
The products that matter
IgA nephropathy drug candidate
Atacicept
$0 current sales · July 7, 2026 decision date
this is the only late-stage asset on the page. management is aiming at an $11B market, and the street is already carrying a $2B fy2026 revenue setup behind it. if atacicept works commercially, VERA becomes a company. if not, it stays a thesis.
one asset
Key numbers
-$4.66
FY2025 EPS
That is a loss per share. You are paying for a story that still has to earn its own cash.
$2B
FY2026 rev
That is the sales number analysts are modeling. Right now, it is still a forecast, not cash in the bank.
$75M
debt
That is manageable beside a $3B market cap. It still matters if trial timing slips and financing shows up early.
1.0
beta
The stock has moved about in line with the market. You still own trial risk, not a sleepy utility.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
- long-term debt $75M (3% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for VERA right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The latest quarter showed a -$3.27 loss per share, and the filing still gave you no revenue number.
Loss per share widened vs the year-ago quarter—skip “% down” math on negative EPS bases. The snippet did not show revenue or gross margin, so the clean read is still burn, not sales.
-$3.27
latest quarter EPS
-$5.04
trailing EPS
-$4.66
FY2025 EPS est
latest quarter EPS
The number that mattered was -$3.27: still no product revenue, so every quarter is about cash, trials, and the path to a launch story.
source: company earnings report, 2026
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What could go wrong
the #1 risk is an FDA setback for atacicept in IgA nephropathy. Vera has $0 in product revenue today, so the approval file is not one risk among many. It is the business model.
med
FDA rejection or delay
The expected July 7, 2026 decision is the single most important event on the page. A rejection, major delay, or materially adverse outcome would hit the only late-stage asset investors are paying for.
Impact: this pressure sits on effectively 100% of the current equity story because product sales are still $0.
med
cash burn before revenue arrives
Vera finished the period with $714.59M in cash. The score strip’s ~-$4.66 line is labeled FY2025 EPS est.—treat the filing as source of truth for the final GAAP year, not this page’s estimate row. That liquidity is enough to keep operating for now, but the company is still funding science and preparation, not a self-financing business.
Impact: if launch timing slips, the need for additional capital gets louder and dilution risk rises with it.
med
commercial reality undershoots launch hopes
The company is aiming at an $11B market and analysts are carrying a $2B FY2026 revenue estimate. Those are large numbers for a company that has not commercialized anything yet.
Impact: approval alone may not be enough. If uptake is slower than investors expect, the stock can disappoint even with a yes from regulators.
A negative regulatory outcome would pressure the entire $3B valuation because Vera still has one late-stage asset and $0 in product revenue.
source: institutional data · regulatory filings · risk analysis
Pay attention to
regulatory
FDA decision date
July 7, 2026 is the main event. Approval or rejection for atacicept matters more than any quarterly headline before it.
financial
cash balance
$714.59M looks healthy today. The question is how quickly that cushion shrinks while product sales stay at $0.
estimates
the $2B fy2026 setup
Watch whether revenue expectations hold. If the street starts cutting that number, it is telling you confidence in the launch curve is fading.
volatility
price swings around catalysts
The stock has traded between $19 and $56 in the last 52 weeks. That is what binary biotech risk looks like before the binary part is resolved.
Analyst rankings
avg. price target
$76.26
From roughly $40.42, that implies 89% upside. In human-speak, analysts are mostly modeling a favorable regulatory outcome.
balance-sheet signal
B+
The finances are decent for this stage. That lowers financing stress, but it does not make the FDA risk any less binary.
beta
1.0
Beta says market-like moves. The 52-week range of $19–$56 says catalyst risk is doing most of the talking.
source: institutional data
Institutional activity
institutional ownership data for VERA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$40
current price
n/a
target midpoint · n/a from current
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