Vera Therapeutics Inc. (VERA): Trutakna (atacicept) approved; attractive near-term catalyst path to drive further upside

研报英文原文证据摘录

Vera Therapeutics Inc. (VERA): Trutakna (atacicept) approved; attractive near-term catalyst path to drive further upside

Equity Research

7 July 2026 | 8:44PM EDT

Vera Therapeutics Inc. (VERA): Trutakna (atacicept) approved;

attractive near-term catalyst path to drive further upside

First dual APRIL-BAFF inhibitor approved for IgAN; looking to 2-year eGFR Paul Choi

+1(212)902-5217 | paul.k.choi@gs.com

topline data up next. We reiterate our positive view on VERA shares following FDA Goldman Sachs & Co. LLC

approval of Trutakna (formerly atacicept), which received accelerated approval as Daniel Ni, Ph.D.

expected on the scheduled July 7 PDUFA date, as we think upcoming +1(212)902-2365Goldman Sachs & Co.| daniel.ni@gs.comLLC

company-specific and industry events are likely to continue to put upward pressure

on the stock. With regard to today’s approval, we think the label is largely aligned

with investors’ expectations for an indication to reduce proteinuria in adults with

primary IgAN at risk for disease progression based on the previously reported

efficacy and safety results from the Origin 3 study. More specifically, we highlight in

the label that: 1) proteinuria reduction was consistent across prespecified

subgroups, which should warrant use across a broad range of patients; 2) with

respect to immunogenicity, despite a slightly higher nominal ADA (anti-drug

antibody) rate versus Otuska’s (covered by Akinori Ueda) Voyxact, there were no

clinically significant effects of ADA on the safety or effectiveness, whereas the

Voyxact label (link) notes that amongst the ADA (+) patients, c. 23% of them

developed ADAs that had neutralizing activity; 3) safety is relatively clean with no

severe serious, severe or opportunistic infections. Per VERA, Trutakna will be priced