Vera Therapeutics Inc-A 2025年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period endedMarch 31,2025or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromtoCommission File Number:001-40407 Vera Therapeutics, Inc.(Exact name of registrant as specified in its charter) 2000 Sierra Point Parkway,Suite 1200Brisbane,California(Address of principal executive offices) Registrant’s telephone number, including area code: (650)770-0077 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2of the Exchange Act. Accelerated filer☐Smaller reporting company☐Emerging growth company☐ Large accelerated filer☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ As of May 1, 2025,the registrant had63,774,158shares of common stock, $0.001 par value per share, outstanding, consisting solely of Class A common stock,$0.001 par value per share. Table of Contents SUMMARY OF RISKS ASSOCIATED WITH OUR BUSINESS2PART I. FINANCIAL INFORMATION4Item 1. Condensed Financial Statements (Unaudited)4Condensed Balance Sheets4Condensed Statements of Operations and Comprehensive Loss5Condensed Statements of Stockholders’ Equity6Condensed Statements of Cash Flows7Notes to Condensed Financial Statements8Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations17Item 3. Quantitative and Qualitative Disclosures About Market Risk24Item 4. Controls and Procedures24PART II. OTHER INFORMATION26Item 1. Legal Proceedings26Item 1A. Risk Factors26Item 2. Unregistered Sales of Equity Securities and Use of Proceeds76Item 3. Defaults Upon Senior Securities77Item 4. Mine Safety Disclosures77Item 5. Other Information77Item 6. Exhibits78SIGNATURES79 In this Quarterly Report on Form 10-Q, unless otherwise stated or as the context otherwise requires, references to “Vera,”“the Company,” “we,” “us,” “our” and similar references refer toVera Therapeutics, Inc. This Quarterly Report on Form 10-Q also contains registered marks, trademarks and trade names of other companies. Allother trademarks, registered marks and trade names appearing in this report are the property of their respective holders. We do notintend our use or display of other companies’ trade names, trademarks or service marks to imply a relationship with, orendorsement or sponsorship of us by, these other companies. SUMMARY OF RISKS ASSOCIATED WITH OUR BUSINESS An investment in shares of our Class A common stock involves a high degree of risk. Below is a list of some of the material risksassociated with our business. This summary does not address all of the risks that we face. Additional discussion of the risks listedin this summary, as well as other risks that we face, is set forth under Part II, Item 1A, “Risk Factors” in this Quarterly Report onForm 10-Q: 2•We have completed a limited number of clinical trials for our lead product candidate, atacicept, and have no productsapproved for commercial sale, which may make it difficult to evaluate our current business and predict our futuresuccess and viability.•We will require substantial additional capital to finance our operations. If we are unable to raise such capital whenneeded, or on acceptable terms, we may be forced to delay, reduce and/or eliminate one or more of our research anddrug development programs of our product candidates or future commercialization efforts.•We have incurred net losses since inception, and we expect to continue to incur net losses for the foreseeable future. Inaddition, we may be unable to continue as a going concern over the long-term.•The terms of our