Vera stock catapulted and broke out on Monday after unveiling promising results for its kidney disease treatment.
The company tested a weekly shot of its drug, atacicept, in patients with IgA nephropathy, a rare disease in which a protein called immunoglobulin A builds up in the kidneys. This causes swelling that can make it difficult for the kidneys to filter waste from the blood.
But, over 96 weeks, patients who received Vera Therapeutics' treatment showed a 52% reduction in proteinuria, or protein in their blood. High levels of proteinuria typically signal a problem with the kidneys.
Vera stock jumped 15.2% to 47.34. Shares broke out of a cup-with-handle base after topping a buy point at 47.30, according to MarketSurge.
More Data In 2025 Could Bolster Vera Stock
Over the first 24 weeks of treatment, patients received a low, middle or high-dose of atacicept. The medium-sized and high-dose groups had an average proteinuria reduction of 31%. After 36 weeks, all patients were eligible to try the high dose.
By 72 weeks, patients showed an average proteinuria reduction of 45% to 47% — depending on which dose they received in the first 24 weeks. That deepened to a 52% reduction after 96 weeks.
But kidney function, measured by how well they filter waste from the blood, appeared to worsen slightly from weeks 72 to 96, Leerink Partners analyst Joseph Schwartz said in a report.
He didn't list a rating for Vera stock, but notes the company expects to disclose more data from the Phase 3 portion of its study in the second quarter of 2025.
Shares have a strong IBD Digital Relative Strength Rating of 97, meaning they rank in the leading 3% of all stocks when it comes to 12-month performance.
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