Vera Therapeutics Inc. Class A Common Stock (VERA)

FairStock Score: 23/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am a value investor, and this one asks me to pay for a promise rather than a proven business. Vera Therapeutics is a clinical-stage biotech developing atacicept for IgA nephropathy and other autoimmune diseases. In the periods filed, revenue is n/a. Net loss was $96.0M in FY2023, $152.1M in FY2024, and $299.6M in FY2025. In fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $109.5M, worse than the $76.5M loss in fiscal Q2 2025. Diluted EPS was $-4.66 in FY2025. FairStock's trailing free cash flow is $-339.2M, a FCF yield of -17.6%, so cash is going out the door. The balance sheet has low debt, with D/E 0.19, and FairStock's Altman Z-Score is 7.72, but that does not create earnings. At the 2026-10-13 close of $26.79, market cap is $1.9B; FairStock calculations show P/E -4.56, P/B 4.72, ROE -91.75%, ROCE -46.76%, Piotroski 0/9, and FairStock Score 23/100. The Lynch category is none because the company lost money in each of the last four years. The moat, if any, is unproven regulatory and intellectual property position. Without revenue or profits, I cannot calculate a Graham-style margin of safety. The price may reflect pipeline hope, but the numbers show a speculative, cash-consuming enterprise.

In plain English: Vera Therapeutics is a drug-development company working on a treatment for an autoimmune kidney disease and other immune conditions. It has no product revenue yet, has been losing money, and its losses and cash use have grown, so the business looks weak on current numbers. At $26.79, investors are paying about $1.9 billion mostly for the hope that its main drug succeeds, meaning the price is not supported by sales or profits today.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer