Vera Therapeutics, Inc. (Vera), a late clinical-stage biotechnology company specializing in treatments for immunologic diseases, has announced its plans to launch a public offering of $200.0 million of its Class A common stock. The offering is subject to market conditions and will be comprised entirely of shares offered by Vera.
The company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Class A common stock sold in the public offering. However, there is no guarantee that the offering will be completed or that its size and terms will remain as proposed.
J.P. Morgan, TD Cowen, and Evercore ISI will act as joint book-running managers for the offering, while LifeSci Capital will serve as the lead manager.
Vera’s proposed public offering will be conducted in accordance with a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC) and was declared effective on June 13, 2022. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website.
The offering is not being made in any jurisdiction where such an offer would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Vera Therapeutics is a biotechnology company focused on developing transformative treatments for serious immunological diseases. Its lead product candidate, atacicept, is a fusion protein administered via subcutaneous injection once a week. Atacicept targets B-cell activating factor (BAFF) and A proliferation-inducing ligand (APRIL), both of which stimulate the production of autoantibodies responsible for certain autoimmune diseases. The company is also developing MAU868, a monoclonal antibody designed to neutralize BK virus (BKV) infections, which can have severe consequences in specific settings, such as kidney transplantation.
Forward-looking statements in this press release caution that actual results may differ from anticipated results due to various risks and uncertainties, including market conditions and satisfaction of closing conditions. The company does not undertake to update any forward-looking statements except as required by law.
Overall, Vera Therapeutics’ proposed public offering of its Class A common stock represents an important step for the late clinical-stage biotechnology company as it continues its mission to develop and commercialize innovative treatments for serious immunologic diseases.
