Company: VERA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029969
Chunk: 129

Company: Vera Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 129
---
employee director compensation

    3,564

    1,709

    1,855

    109
    %

    Commercial planning and medical affairs

    3,248

    —

    3,248

    N/A

    Other

    6,937

    4,572

    2,365

    52
    %

    General and administrative expenses
     
    $
    40,998

    $
    23,787

    $
    17,211

    72
    %

General and administrative expenses increased by $17.2 million, or 72%, to $41.0 million in the year ended December 31, 2024, from $23.8 million in the year ended December 31, 2023, primarily due to an increase of $7.5 million in payroll and related expenses, including stock-based compensation, as a result of increased general and administrative employee headcount, an increase of $3.2 million in commercial expenses related to increased market research and market access activities, an increase of $2.0 million in outside legal and accounting expenses associated with increases in audit fees, outsourced accounting services, and general and patent-related legal expenses, and an increase of $1.9 million in consulting expenses primarily related to increases in non-employee director compensation.

Other Income and Expenses, Net

    Year Ended December 31,

    CHANGE

    (dollars in thousands)
     
    2024

    2023

    AMOUNT

    %

    Other income and expenses, net
     
    $
    15,023

    $
    6,023

    $
    9,000

    149
    %

95

Other income and expenses, net, increased by $9.0 million, or 149%, to $15.0 million in the year ended December 31, 2024, from $6.0 million in the year ended December 31, 2023, primarily due to an increase of $12.7 million in interest income from greater balances of marketable securities held, partially offset by an increase of $3.8 million in interest expense due to higher outstanding loan principal balances in the current period. 

Liquidity and Capital Resources 

To date, we have funded our operations primarily through proceeds from the sale of shares of our common stock, redeemable convertible preferred stock, debt financing and convertible notes. From