By Jasmine Li
Shares of Vera Therapeutics rose after trial results for its atacicept treatment showed potential to prevent kidney failure in patients with immunoglobulin A nephropathy.
The biotechnology company's stock climbed 14.18% in Monday morning trading. Shares have more than quadrupled year over year.
Brisbane, Calif.-based Vera Therapeutics said Saturday evening the phase 2b trial showed stabilized kidney function through 96 weeks of long-term follow-up in patients with the chronic kidney disease that occurs when the protein IgA builds up in the kidneys.
"The stabilization of kidney function through two years -- the longest duration of data among B cell modulators to date -- positions atacicept as a potential best- and first-in-class treatment option for patients with IgAN," said Chief Executive Marshall Fordyce.
Fordyce said the company plans to announce topline results from the phase 3 trial in the second quarter of 2025, and apply for a biologics license application from the Food and Drug Administration later in the year.
Write to Jasmine Li at jasmine.li@wsj.com
(END) Dow Jones Newswires
October 28, 2024 10:31 ET (14:31 GMT)
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