Vera Therapeutics Inc
VERAHealthcare|Biotechnology|USA
$42.00
-0.45 (-1.06%)
Tangible Book
$6.97
Earnings Power
$7.21
Financials
Financial Snapshot
Market Cap
$3.01B
Enterprise Value
$519.9M
Revenue (TTM)
$0.00
Net Income (TTM)
$-369.0M
Cash & Equivalents
—
Net Cash/Share
$6.62
Free Cash Flow (TTM)
$-293.8M
Operating CF (TTM)
$-293.2M
Debt/Equity
0.15
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$73.3M
Monthly Burn
$24.4M
Est. Runway
—
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $3.2M | $53.7M | $79.7M | $114.7M | $160.7M | $640.9M | $714.6M | $596.8M | |
| Operating Cash Flow | $-10.3M | $-34.8M | $-23.7M | $-67.6M | $-92.2M | $-134.7M | $-241.1M | $-293.2M | |
| Free Cash Flow | $-10.4M | $-34.9M | $-23.7M | $-67.7M | $-92.2M | $-135.7M | $-241.7M | $-293.8M | |
| Capital Expenditure | $-125.0K | $-99.0K | $0.00 | $-62.0K | $-63.0K | $-972.0K | $-630.0K | $-616.0K | |
| Financing Cash Flow | $-137.0K | $85.3M | $53.9M | $101.9M | $133.5M | $606.7M | $308.9M | $311.3M |
R&D Spending
R&D (TTM)
$260.0M
R&D Intensity
—
R&D Growth YoY
+20.8%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $7.3M | $45.2M | $22.5M | $69.0M | $78.2M | $126.2M | $215.3M | $260.0M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | |
| SG&A | $4.4M | $4.0M | $11.9M | $21.9M | $23.8M | $41.0M | $100.2M | $123.4M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $7.3M | $45.2M | $22.5M | $69.0M | $78.2M | $126.2M | $215.3M | $260.0M | |
| SG&A | $4.4M | $4.0M | $11.9M | $21.9M | $23.8M | $41.0M | $100.2M | $123.4M | |
| Operating Income | $-11.7M | $-49.2M | $-34.4M | $-90.9M | $-102.0M | $-167.2M | $-315.5M | $-383.4M | |
| Interest Expense | $-51.0K | $-166.0K | $-20.0K | $-992.0K | $-3.8M | $-7.6M | $-7.5M | $-7.6M | |
| Pretax Income | $-11.9M | $-53.4M | $-32.6M | $-89.1M | $-96.0M | $-152.1M | $-299.6M | $-369.0M | |
| Net Income | $-11.9M | $-53.4M | $-32.6M | $-89.1M | $-96.0M | $-152.1M | $-299.6M | $-369.0M | |
| EPS (Diluted) | -2.91 | -13.10 | -2.43 | -3.35 | -2.25 | -2.75 | -4.66 | -5.54 | |
| EBITDA | $-11.3M | $-53.0M | $-32.4M | $-88.1M | $-92.2M | $-144.4M | $-291.6M | $-360.9M | |
| Shares Out. (M) | 4.08 | 4.08 | 13.44 | 26.57 | 42.71 | 55.33 | 64.23 | 71.48 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.2M | $53.7M | $79.7M | $43.5M | $45.7M | $92.6M | $354.7M | $114.4M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $71.2M | $115.0M | $548.2M | $359.9M | $482.4M | |
| Total Current Assets | $3.6M | $54.3M | $82.5M | $125.7M | $172.0M | $651.2M | $728.9M | $615.8M | |
| Total Assets | $5.4M | $54.6M | $83.7M | $131.4M | $175.5M | $655.7M | $734.7M | $621.7M | |
| Total Current Liabilities | $1.1M | $2.4M | $7.7M | $25.6M | $22.3M | $25.4M | $53.5M | $45.1M | |
| Long-Term Debt | $0.00 | $0.00 | $4.9M | $24.8M | $49.9M | $50.7M | $74.8M | $75.0M | |
| Total Liabilities | $41.9M | $143.9M | $14.2M | $54.5M | $73.9M | $78.5M | $130.2M | $122.0M | |
| Stockholders' Equity | $-36.5M | $-89.3M | $69.6M | $76.9M | $101.7M | $577.2M | $604.5M | $499.7M | |
| Retained Earnings | $-38.0M | $-91.4M | $-124.1M | $-213.1M | $-309.1M | $-461.3M | $-760.9M | $-881.9M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-10.3M | $-34.8M | $-23.7M | $-67.6M | $-92.2M | $-134.7M | $-241.1M | $-293.2M | |
| Capital Expenditure | $-125.0K | $-99.0K | $0.00 | $-62.0K | $-63.0K | $-972.0K | $-630.0K | $-616.0K | |
| Free Cash Flow | $-10.4M | $-34.9M | $-23.7M | $-67.7M | $-92.2M | $-135.7M | $-241.7M | $-293.8M | |
| Investing Cash Flow | $-125.0K | $-42.0K | $-4.2M | $-70.6M | $-39.4M | $-425.0M | $194.3M | $41.2M | |
| Financing Cash Flow | $-137.0K | $85.3M | $53.9M | $101.9M | $133.5M | $606.7M | $308.9M | $311.3M | |
| Issuance of Stock | $0.00 | $0.00 | $51.2M | $86.1M | $115.0M | $632.5M | $300.5M | $300.5M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-13.0K | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $5.6M | $4.9M | $19.8M | $24.7M | $0.00 | $23.3M | $0.00 | |
| Payments of Debt | $-188.0K | $-130.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $263.0K | $331.0K | $3.0M | $8.9M | $11.5M | $20.8M | $37.9M | $43.4M | |
| Net Change in Cash | $-10.6M | $50.4M | $26.0M | $-36.2M | $1.9M | $47.0M | $262.1M | $59.3M |
Dilution Tracker
Shares outstanding grew 432.0% over 5 years — significant dilution
Shares Outstanding
71M
5-Year Share Growth
+432.0%
Stock Issuance (TTM)
$300.5M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 4.08 | 4.08 | 13.44 | 26.57 | 42.71 | 55.33 | 64.23 | 71.48 | |
| YoY Change % | — | 0.0% | 229.6% | 97.8% | 60.7% | 29.6% | 16.1% | 11.3% | |
| Stock Issuance | $0.00 | $0.00 | $51.2M | $86.1M | $115.0M | $632.5M | $300.5M | $300.5M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-13.0K | $0.00 | $0.00 | |
| Stock Based Comp. | $263.0K | $331.0K | $3.0M | $8.9M | $11.5M | $20.8M | $37.9M | $43.4M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | 0.0% | -121.6% | -107.5% | -44.8% | -50.7% | -73.6% | |
| ROA % | -220.3% | -178.2% | -47.2% | -82.8% | -62.5% | -36.6% | -43.1% | -60.2% | |
| R&D / Revenue | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.41
P/S—
Historical— / — / —
Industry Med.9.51
P/B6.03
Historical— / — / 6.03
Industry Med.2.93
EV/EBITDA-6.91
Historical-6.91 / — / —
Industry Med.13.14
EV/Revenue—
Historical— / — / —
Industry Med.8.71
P/FCF—
Historical— / — / —
Industry Med.27.54
Intrinsic Value Models
Tangible Book
$6.97
Net Current Assets
$6.880
Net-Net Working Capital
$6.62
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 8.17 | 7.00 | 6.72 | 4.66 | 5.97 | 6.03 | |
| EV/EBITDA | 0.00 | 0.00 | -15.24 | -5.16 | -6.26 | -14.55 | -10.19 | -6.91 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
1
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $35.59M | $261.11M | $712.60M |
| Net Income | $-455.14M | $-295.38M | $12.64M |
| EPS | -6.29 | -3.92 | -0.14 |
| Book Value per Share | 6.66 | 3.18 | 0.00 |
| Operating Cash Flow per Share | -5.66 | -3.04 | 0.00 |
| Operating CF | $-404.20M | $-216.93M | $0.00M |