Vera Therapeutics slips after unveiling $300 mln stock offering
Updates
** Vera Therapeutics' VERA.O shares fall 2.8% to $46.04 after the bell
** VERAunveils plans to sell $300 mln worth of shares in a proposed public offering
** J.P. Morgan, Goldman Sachs, Evercore ISI and Cantor are the joint book-running managers for the proposed offering
** VERA stock closed up 15.2% at $47.34 on Monday
** Co has 54.8 mln outstanding shares giving it a market capitalization of $2.60 bln - LSEG data
** On Saturday, Vera reported additional data from a mid-stage study testing its kidney disease drug, atacicept, as a potential treatment for IgA nephropathy
** IgA nephropathy causes a protein called immunoglobulin A to build up in the kidney
** At week 96, atacicept helped in reducing excess levels of a protein in urine and stabilizing kidney function levels, compared to placebo - VERA
** VERA said it will submit results from late-stage study of atacicept in Q2 2025
** As of last close, VERAstock has more than tripled YTD
Reporting by Christy Santhosh and Arasu Kannagi Basil in Bengaluru
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