Why Shares of Vera Therapeutics Are Soaring Monday
Shares of Vera Therapeutics (NASDAQ: VERA) were up more than 18.8% Monday morning, after climbing as high as 25% shortly after the market opened. The healthcare stock's move was likely triggered after one competitor with a similar lead therapy saw positive signs in a phase 1 trial, and another competitor agreed to a buyout offer from a larger pharmaceutical company.
Vera is presenting this week at the 44th Annual Goldman Sachs Global Healthcare Conference in Dana Point, California.
Vera Therapeutics is a clinical-stage biotech company that specializes in treating immunological diseases, particularly those involving the kidney. The company's lead therapy is atacicept, a fusion protein delivered by a weekly subcutaneous injection that helps block the production of autoantibodies that lead to autoimmune diseases. One of those diseases, BK virus, is often prevalent in kidney transplant patients.
Source Fool.com
