Health score, competitive moat, risk signals, and key metrics at a glance.
Vera Therapeutics, Inc., a clinical stage biotechnology company, focuses on the development and commercialization of transformative treatments for patients with immunological diseases. The company offers atacicept, a fully humanized TACI-Fc fusion protein that binds B-cell activating factor (BAFF) and A proliferation-inducing ligand (APRIL), which is self-administered at home as a subcutaneous injection being evaluated for the treatment of immunoglobulin A nephropathy (IgAN) and other autoimmune kidney diseases. It is also developing MAU868, a human monoclonal antibody for the treatment of BK viremia infections that has completed phase 2 clinical trial; and VT-109, a novel BAFF/APRIL dual-inhibitor B cell maturation antigen (BCMA) molecule to treat B cell mediated autoimmune diseases. The company was formerly known as Trucode Gene Repair, Inc. and changed its name to Vera Therapeutics, Inc. in April 2020. Vera Therapeutics, Inc. was incorporated in 2016 and is headquartered in Brisbane, California.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -7208287500.0%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.
Debt-to-equity has risen 57.8% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 30.6% — significant dilution, likely from stock compensation or capital raises.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
