Vera Therapeutics, Inc (VERA) News & EventsVERAVera Therapeutics, Inc

Stock Futures Lower Ahead of Fed Policy Meeting

Stock futures are pointing to another lower open as investors brace for the Federal Reserve to begin its two-day policy meeting, with the central bank widely expected to raise interest rates for the first time since 2023. The 10-year Treasury yield has climbed above 5% for the first time since 2007, reaching about 5.04%, as investors contend with renewed inflation concerns, elevated government borrowing and the prospect of tighter monetary policy.Oil is adding to the inflationary pressure, with Brent crude around $107 a barrel and WTI above $103 as disruptions to Middle Eastern energy infrastructure continue. Saudi Arabia's East-West pipeline remains shut following attacks, while uncertainty surrounding the conflict and oil flows through the region is keeping a substantial geopolitical premium in crude prices.Markets are now pricing roughly a 92%-94% probability of a 25-basis-point Fed hike on Wednesday, which would take the federal-funds target range to 3.75%-4%.In pre-market trading, S&P 500 futures fell 0.13%, Nasdaq futures fell 0.13% and Dow futures fell 0.26%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Vera Therapeuticsup 16% after reporting that trutakna met all prespecified endpoints of the final efficacy analysis of the ORIGIN 3 trial in adults with primary IgA nephropathyEtsyup 3% after Oppenheimer upgraded shares to Outperform with a $90 price targetEli Lillyup 1% after Berenberg upgraded the stock to Buy with a price target of $1,400, up from $1,220UP AFTER EARNINGS -Vera Bradleyup 12%Forgent Power Solutionsup 8%DOWN AFTER EARNINGS -Dave and Buster'sdown 12%Kestra Medicaldown 9%LOWER -Enovadown 20% after withdrawing its applications with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System related to the proposed acquisition of Grasshopper BancorpSyscodown 2% after a $1B secondary share offering priced at $81 per share

Vera Therapeutics Stock Up 13% in Pre-Market at $38.63

Vera Therapeutics up 13% in pre-market at $38.63 after trutakna ORIGIN 3 data

Vera Therapeutics Announces Trutakna Met All Endpoints in ORIGIN 3 Trial

Vera Therapeutics announced that trutakna met all prespecified endpoints of the final efficacy analysis of the ORIGIN 3 trial in adults with primary IgA nephropathy, or IgAN, at risk for disease progression. IgAN is a serious, progressive, immune-mediated kidney disease and a leading cause of chronic kidney disease and kidney failure worldwide. Trutakna, the first and only FDA-approved BAFF and APRIL inhibitor, met all prespecified endpoints, including unprecedented placebo-adjusted estimated glomerular filtration rate, or eGFR, and composite kidney disease progression benefits. These eGFR results align with the KDIGO treatment goal to reduce the rate of kidney function decline to the physiologic rate. Trutakna also achieved statistically significant reductions in the hierarchically tested endpoints of proteinuria, galactose-deficient IgA1 and hematuria. Trutakna was well tolerated with a favorable safety profile generally comparable to placebo, consistent with previous results from the ORIGIN program. Rates of overall adverse events and infections or infestations were similar between the trutakna and placebo groups, and there were no opportunistic infections or clinically relevant hypogammaglobulinemia. Detailed results from the final efficacy analysis will be shared at an upcoming scientific congress. The company plans to submit supplemental BLA to the FDA for full approval in Q4.