Vera Therapeutics, Inc. VERA R2K

Healthcare · Biotechnology · United States

Vera Therapeutics, Inc., a clinical stage biotechnology company, focuses on the development and commercialization of transformative treatments for patients with immunological diseases. The company offers atacicept, a fully humanized TACI-Fc fusion protein that binds B-cell activating factor (BAFF) and A proliferation-inducing ligand (APRIL), which is self-administered at home as a subcutaneous injection being evaluated for the treatment of immunoglobulin A nephropathy (IgAN) and other autoimmune kidney diseases. It is also developing MAU868, a human monoclonal antibody for the treatment of BK viremia infections that has completed phase 2 clinical trial; and VT-109, a novel BAFF/APRIL dual-inhibitor B cell maturation antigen (BCMA) molecule to treat B cell mediated autoimmune diseases. The company was formerly known as Trucode Gene Repair, Inc. and changed its name to Vera Therapeutics, Inc. in April 2020. Vera Therapeutics, Inc. was incorporated in 2016 and is headquartered in Brisbane, California.

Market & Price

Market Cap

$2.55B

Current Price

$35.52

High / Low (52W)

$55.67 / $18.95

Beta

0.95

Valuation

Stock P/E

Industry PE

23.65

Forward P/E

PEG Ratio

Book Value

$6.97

Price to Book

5.10

P/S

EV/EBITDA

-5.30

Dividend Yield

Profitability & Returns

ROCE

-42.87%

ROE

-71.32%

ROA

-38.90%

Profit Margin

0.00%

Op Margin

0.00%

EPS (Latest Qtr)

$-1.69

EPS (TTM)

$-5.54

Balance Sheet & Liquidity

Debt/Equity

0.15

Quick Ratio

13.30

Current Ratio

13.64

Debt

$76.89M

Total Assets

$734.73M

Current Assets

$728.88M

Working Capital

$675.43M

Ownership

Promoter Holding

0.88%

Chg in Prom Hold

FII / Inst Holding

110.61%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$2.03B

Total Revenue (TTM)

EBITDA

$-382.89M

Free Cash Flow

$-179.42M

Operating Cash Flow

$-293.20M

Shares Outstanding

71.78M

Gross Margin

0.00%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

Profit 5Y

-78.81%

Revenue (YoY)

Earnings (YoY)

PROS

In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Earnings shrank at -78.8% CAGR over 5 years.
Trading 36.2% below its 52-week high.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	VERA Vera Therapeutics, Inc. R2K	35.52	-	$2.55B	-	-42.87%	-71.32%	-	-78.81%
2	LLY Eli Lilly and Company SPX	1,105.00	39.21	$985.37B	0.63%	38.44%	107.46%	31.69%	48.96%
3	JNJ Johnson & Johnson SPX	225.33	26.11	$542.42B	2.38%	23.13%	26.42%	5.60%	14.32%
4	UNH UnitedHealth Group Incorporated SPX	380.31	28.66	$345.38B	2.32%	9.60%	12.18%	11.35%	-15.69%
5	MRK Merck & Co., Inc. SPX	118.72	33.44	$293.22B	2.86%	20.66%	18.94%	3.12%	7.93%
6	TMO Thermo Fisher Scientific Inc. SPX	492.51	27.11	$183.03B	0.38%	9.17%	13.52%	-0.27%	-1.19%
7	AMGN Amgen Inc. NDXSPX	336.79	23.42	$181.77B	2.99%	18.02%	101.32%	11.77%	5.58%
8	GILD Gilead Sciences, Inc. NDXSPX	134.43	18.29	$166.90B	2.44%	22.92%	43.36%	2.57%	22.83%
9	ISRG Intuitive Surgical, Inc. NDXSPXAI	424.64	51.53	$150.39B	-	15.96%	17.23%	17.39%	29.26%

Quarterly Results

Figures in USD.

Metric	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	57.19M	80.14M	83.93M	94.21M	125.13M
Operating Income	-2.47M	-3.17M	-4.04M	-4.72M	-5.85M	-7.25M	-17.02M	-15.06M	-25.24M	-31.26M	-21.97M	-21.76M	-31.11M	-37.34M	-	-57.19M	-80.14M	-83.93M	-94.21M	-125.13M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-49.82M	-74.54M	-78.20M	-89.06M	-119.07M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.79M	1.87M	1.96M	1.90M	1.82M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-51.69M	-76.53M	-80.29M	-91.10M	-121.03M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income	-2.47M	-3.60M	-4.46M	-4.71M	-3.44M	-7.61M	-17.09M	-14.85M	-24.68M	-30.07M	-20.16M	-20.10M	-28.38M	-33.71M	-	-51.69M	-76.53M	-80.29M	-91.10M	-121.03M
Diluted EPS	-	-	-	-	-0.33	-0.36	-0.71	-0.55	-0.91	-0.80	-0.46	-0.45	-0.56	-0.62	-0.85	-0.81	-1.20	-1.26	-	-1.69
R&D Expense	1.44M	1.95M	1.97M	2.93M	3.23M	3.56M	12.55M	10.11M	19.66M	25.11M	16.23M	16.10M	23.20M	29.31M	40.31M	41.28M	58.20M	56.47M	-	86.01M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	0	0	0	0
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
Operating Expenses	-	-	90.90M	102.01M	167.17M	315.47M
Operating Income	-52.24M	-	-90.90M	-102.01M	-167.17M	-315.47M
EBITDA	-	-	-88.06M	-92.18M	-144.42M	-291.62M
Interest Expense	-	-	992.00K	3.79M	7.63M	7.53M
Pretax Income	-	-	-89.06M	-95.99M	-152.15M	-299.61M
Tax Provision	-	-	1.00K	1.00K	1.00K	1.00K
Net Income	-53.41M	-	-89.06M	-95.99M	-152.15M	-299.62M
Diluted EPS	-	-2.43	-3.35	-2.25	-2.75	-
R&D Expense	45.21M	22.48M	68.99M	78.22M	126.17M	215.26M

Compounded Sales Growth

5 Years:	-
1 Year:	-

Compounded Profit Growth

5 Years:	-78.81%
1 Year:	-

Stock Price Performance

1 Year:	+87.44%
6 Months:	+20.69%
3 Months:	-12.92%
1 Month:	-0.89%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	54.55M	-	131.44M	175.55M	655.68M	734.73M
Current Assets	-	-	-	125.70M	172.02M	651.22M	728.88M
Cash & Equivalents	-	53.65M	-	43.46M	45.68M	92.65M	354.73M
Inventory	-	-	-	-	-	-	-
Receivables	-	-	-	-	512.00K	3.77M	3.29M
Total Liabilities	-	4.33M	-	54.53M	73.86M	78.53M	130.21M
Current Liabilities	-	2.41M	-	25.60M	22.30M	25.37M	53.45M
Long Term Debt	-	0	-	24.81M	49.88M	50.69M	74.84M
Total Debt	-	-	-	31.29M	53.71M	54.64M	77.31M
Total Equity	-36.55M	-89.35M	-	76.91M	101.69M	577.15M	604.52M
Shares Outstanding	-	-	-	27.80M	44.45M	63.56M	71.27M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-34.81M	-	-67.60M	-92.18M	-134.68M	-241.10M
Investing Cash Flow	-42.00K	-	-70.55M	-39.43M	-425.03M	194.29M
Financing Cash Flow	85.29M	-	101.93M	133.54M	606.67M	308.90M
Capital Expenditure	-99.00K	-	-62.00K	-63.00K	-972.00K	-630.00K
Free Cash Flow	-34.91M	-	-67.66M	-92.24M	-135.65M	-241.73M
Net Change in Cash	-	-	-36.22M	1.93M	46.97M	262.08M
Share Buybacks	-	-	-	0	13.00K	0

Ratios (Annual)

Figures in %.

Metric	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-
Operating Margin %	-	-	-	-	-	-
Net Margin %	-	-	-	-	-	-
ROE %	59.8%	-	-115.8%	-94.4%	-26.4%	-49.6%
ROCE %	-100.2%	-	-85.9%	-66.6%	-26.5%	-46.3%

Shareholding Pattern

Insiders

0.88%

Institutions

110.61%

Public Float

111.59%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Avoro Capital Advisors LLC	8.20%	5.89M	$209.17M
2	Blackrock Inc.	7.09%	5.09M	$180.73M
3	Price (T.Rowe) Associates Inc	6.37%	4.57M	$162.47M
4	Deep Track Capital, Lp	5.72%	4.11M	$145.85M
5	Deerfield Management Company, L.P	5.19%	3.72M	$132.21M
6	Kynam Capital Management, LP	4.73%	3.40M	$120.70M
7	State Street Corporation	4.69%	3.36M	$119.48M
8	Sofinnova Investments, Inc.	3.89%	2.79M	$99.24M
9	Vanguard Capital Management LLC	3.74%	2.68M	$95.32M
10	FMR, LLC	3.73%	2.68M	$95.07M

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