New York, July 7, 2026, 16:02 (EDT)
- Vera ended the session at $42.96, gaining 7.05%. About 4.43 million shares traded hands before the Nasdaq closed at 4 p.m. EDT.
- The FDA gave accelerated approval to Trutakna to lower proteinuria in adults with primary IgA nephropathy who are at risk of disease progression.
- BofA Securities’ Dina Ramadane kept a buy on the stock with a $70 price target July 7, per Google Finance.
Vera Therapeutics, Inc. NASDAQ:VERA finished up 7.05% at $42.96 on Tuesday after U.S. regulators approved Trutakna. The bigger investor focus was on the size of the bid. With 71.78 million shares outstanding from Google Finance and a $2.83 move on the day, that comes out to roughly $203 million more in equity value added. That’s around a third of Vera’s last reported cash, and not a big reset for a $3.08 billion biotech that’s now swapped FDA risk for launch risk.
Vera shares jumped 6% Monday, ahead of its July 7 PDUFA date, Investing.com said. The stock closed Tuesday still down about 23% from the 52-week high of $56.04 but up about 125% from the 52-week low of $19.07.
| Vera measure | Latest figure | Market read |
|---|---|---|
| Tuesday close | $42.96 | Shares gained 7.05% when approval hit |
| Equity value added | About $203 million | $2.83 per share on 71.78 million shares |
| Volume | 4.43 million | Roughly 2.6x the usual 1.68 million daily |
| Market value | $3.08 billion | Still trades as a mid-cap biotech |
| Cash, equivalents and marketable securities | $596.8 million at March 31 | Today’s gain is about 34% of cash on hand |
| Q1 operating cash use | $106.5 million | Market value gain is about 1.9 quarters’ worth of cash burn |
The FDA cleared Trutakna to cut proteinuria in adults with primary IgA nephropathy, a kidney disorder where abnormal IgA antibodies build up and may cause kidney damage or failure. The drug is a once-weekly shot under the skin. According to the FDA, Trutakna is the first therapy approved that targets both BAFF and APRIL, which are immune proteins connected to abnormal IgA antibody levels.
The nod isn’t a clear win for the stock. The FDA flagged that Trutakna’s impact on slowing kidney decline hasn’t been proven yet, and full approval will likely hang on results from a bigger trial. Vera said its ORIGIN 3 trial is still blinded and uses a placebo control, with eGFR data due in Q3 2026.
Vera said its interim ORIGIN 3 study showed Trutakna cut proteinuria by 46% from baseline and by 42% versus placebo at 36 weeks. The company reported infections and local administration reactions as the most common side effects.
Vera CEO Marshall Fordyce said in the firm’s approval note, “We believe TRUTAKNA offers a novel approach to addressing this serious disease.” Richard Lafayette, a nephrologist at Stanford and the ORIGIN program’s lead investigator, said Trutakna “inhibits both BAFF and APRIL, the two key cytokines that act on B cells.” GlobeNewswire
Fordyce told Reuters the company wanted faster kidney-function checks since high-risk patients don’t have years to wait. That means Q3 eGFR data is still the next stock event, even after FDA approval.
| Price marker | Level | Distance from Tuesday close |
|---|---|---|
| Tuesday close | $42.96 | — |
| 52-week high | $56.04 | Shares are down 23.3% from that high |
| 52-week low | $19.07 | Stock is up 125.3% from the 52-week low |
| BofA target | $70.00 | 62.9% higher than Tuesday’s close |
| Average analyst target | $80.55 | Shares would have to gain 87.5% to reach the average target |
| Lowest analyst target | $35.00 | 18.5% under Tuesday’s finish |
Analysts were mostly bullish ahead of the approval. Out of 13 analysts who tracked Vera in the last three months, Google Finance had 12 buys and one hold. BofA’s Ramadane left his buy and $70 target unchanged on Tuesday. H.C. Wainwright’s Arthur He also repeated his buy rating and $110 target on July 1.
Vera will have established competition. Reuters said Otsuka Holdings Co’s (TYO:4578) Voyxact, Novartis AG’s SWX:NOVN Fabhalta, Travere Therapeutics Inc’s NASDAQ:TVTX Filspari, and Calliditas Therapeutics’ Tarpeyo are already on the market for IgA nephropathy.
| IgA nephropathy product | Company | Current market point |
|---|---|---|
| Trutakna | Vera Therapeutics NASDAQ:VERA | Just approved; eGFR data set for Q3 2026 |
| Voyxact | Otsuka Holdings (TYO:4578) | On the market |
| Fabhalta | Novartis SWX:NOVN | On the market |
| Filspari | Travere Therapeutics NASDAQ:TVTX | On the market |
| Tarpeyo | Calliditas Therapeutics | On the market |
Vera was already boosting spending ahead of the FDA move. In May, the company posted a net loss of $121.0 million for the first quarter, up from $51.7 million last year. R&D expenses jumped to $86.0 million from $41.3 million, and G&A costs were $39.1 million, compared with $15.9 million.
The launch trade’s got more cash to work with in the short term, but there’s not much slack for a slow start anymore. Vera said in May it had $596.8 million between cash, equivalents and marketable securities, and access to more debt, which it thought would cover operations through possible approval, a U.S. launch and some runway after. It now has the approval. The sales and eGFR tests are still pending.
