NEW YORK, Jan. 21, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Vera Therapeutics, Inc. (“Vera” or the “Company”) VERA. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Vera and certain of its officers and/or directors engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On January 3, 2023, Vera issued a press release announcing what it described as “topline positive results” in its Phase 2b ORIGIN clinical trial of atacicept for the treatment of immunoglobulin A nephropathy. Although Vera’s product candidate met its primary endpoint, analysts noted that the Phase 2b data would need to be replicated in a pivotal study to secure regulatory approval and that other competing drugs in development may be more effective than atacicept. Accordingly, after the release of the Phase 2b data, Wedbush downgraded Vera from Outperform to Neutral.

As a result of this news, Vera’s stock price fell $11.84 per share, or 64.7%, to close on January 4, 2023 at $6.46 per share.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com

CONTACT:
Robert S Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980