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Vera Therapeutics, Inc.

For the period ended Jun 30, 2025. Filed Aug 5, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 5, 2025

VERA$30.61+2.8%Stored close · as of Nov 9, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30,2025

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period fromto

Commission File Number:001-40407

Vera Therapeutics, Inc.

(Exact name of registrant as specified in its charter)

Delaware81-2744449
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
2000 Sierra Point Parkway, Suite 1200Brisbane, California94005
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (650)770-0077

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTradingSymbol(s)Name of each exchangeon which registered
Class A common stock, $0.001 par value per shareVERAThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

As of July 30, 2025, the registrant had 63,823,665 shares of common stock, $0.001 par value per share, outstanding, consisting solely of Class A common stock, $0.001 par value per share.

Table of Contents

PageNumber
SUMMARY OF RISKS ASSOCIATED WITH OUR BUSINESS2
PART I. FINANCIAL INFORMATION4
Item 1. Condensed Financial Statements (Unaudited)4
Condensed Balance Sheets4
Condensed Statements of Operations and Comprehensive Loss5
Condensed Statements of Stockholders’ Equity6
Condensed Statements of Cash Flows7
Notes to Condensed Financial Statements8
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations18
Item 3. Quantitative and Qualitative Disclosures About Market Risk25
Item 4. Controls and Procedures26
PART II. OTHER INFORMATION27
Item 1. Legal Proceedings27
Item 1A. Risk Factors27
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds78
Item 3. Defaults Upon Senior Securities78
Item 4. Mine Safety Disclosures78
Item 5. Other Information78
Item 6. Exhibits79
SIGNATURES80

In this Quarterly Report on Form 10-Q, unless otherwise stated or as the context otherwise requires, references to “Vera,” “the Company,” “we,” “us,” “our” and similar references refer to Vera Therapeutics, Inc.

This Quarterly Report on Form 10-Q also contains registered marks, trademarks and trade names of other companies. All other trademarks, registered marks and trade names appearing in this report are the property of their respective holders. We do not intend our use or display of other companies’ trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.