Company: VERA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029969
Chunk: 126

Company: Vera Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 126
---
    (dollars in thousands)
     
    2024

    2023

    AMOUNT

    %

    Operating expenses:

    Research and development
     
    $
    126,172

    $
    78,225

    $
    47,947

    61
    %

    General and administrative

    40,998

    23,787

    17,211

    72
    %

    Total operating expenses

    167,170

    102,012

    65,158

    64
    %

    Loss from operations

    (167,170
    )

    (102,012
    )

    (65,158
    )

    64
    %

    Other income (expense):

    Interest income

    20,714

    7,979

    12,735

    160
    %

    Interest expense

    (7,626
    )

    (3,786
    )

    (3,840
    )

    101
    %

    Other income, net

    1,935

    1,830

    105

    6
    %

    Total other income

    15,023

    6,023

    9,000

    149
    %

    Loss before provision for income taxes
     
    $
    (152,147
    )
     
    $
    (95,989
    )
     
    $
    (56,158
    )

    59
    %

Research and Development Expenses 

Research and development expenses represent a substantial portion of our operating expenses. Our research and development expenses consist primarily of direct and indirect expenses incurred in connection with the research and development of our product candidates. Direct expenses include costs incurred under agreements with third parties, including contract research organizations, contract drug manufacturing organizations and consultants directly related to our research and development of product candidates, and license and milestone fees incurred as a result of our contractual obligations for our development candidates. Indirect expenses include employee compensation and other personnel-related expenses, including stock-based compensation, facilities and depreciation related to buildings and equipment used by research and development personnel and activities and other expenses.

Research and development expenses are recorded as expense in the period in which the related activities occurred, and payments we make prior to the receipt of goods or services to be used in research and development efforts are deferred as prepaid expenses until the goods or