Verve Therapeutics, Inc. Stock Price, News & Analysis

Verve Therapeutics, a clinical-stage company developing genetic medicines for cardiovascular disease, reported Q2 2024 financial results and pipeline updates. Key highlights include:

- Heart-2 clinical trial of VERVE-102 enrolling in the U.K., Canada, and Australia
- VERVE-201 Phase 1b trial initiation on track for H2 2024
- Cash position of $575.9 million, runway into late 2026
- Q2 2024 revenue: $6.7 million; net loss: $49.8 million ($0.59 per share)
- R&D expenses: $51.0 million; G&A expenses: $14.5 million

The company plans to provide initial data from the Heart-2 trial and a PCSK9 program update in H1 2025, with Phase 2 trial initiation expected in H2 2025.

Verve Therapeutics, a clinical-stage company developing genetic medicines for cardiovascular disease, has announced the granting of equity awards to five new employees on July 31, 2024. These awards, made under the company's 2024 Inducement Stock Incentive Plan, include:

1. Stock options to purchase 91,200 shares of common stock at $7.00 per share, vesting over four years.

2. 37,300 restricted stock units (RSUs), vesting in equal annual installments over four years.

These grants are in accordance with Nasdaq Listing Rule 5635(c)(4) and are designed to serve as an inducement for new employees joining the company.

Verve Therapeutics, a clinical-stage biotech firm, announced the granting of equity awards to a new employee under its 2024 Inducement Stock Incentive Plan, as per Nasdaq Listing Rule 5635(c)(4). On June 28, 2024, the new hire received a stock option to purchase 76,900 shares at an exercise price of $4.88 per share, the closing price on the grant date. The option has a 10-year term, with 25% vesting on the first anniversary and the remainder vesting monthly over three years. Additionally, 19,200 restricted stock units (RSUs) were granted, set to vest in equal annual installments over four years from July 1, 2024, contingent on continued service.

Verve Therapeutics, a clinical-stage biotechnology company specializing in gene editing medicines for cardiovascular diseases, announced the appointment of Dr. Nia Tatsis and Jodie Morrison to its Board of Directors. Dr. Tatsis is the EVP, Chief Regulatory and Quality Officer at Vertex Pharmaceuticals, boasting extensive experience in regulatory affairs and quality control. Jodie Morrison, CEO of Q32 Bio, brings two decades of leadership in biopharmaceuticals, including successful mergers and IPOs. Their expertise will support Verve's ongoing clinical trials, including the Heart-2 trial for VERVE-102 targeting the PCSK9 gene and the initiation of the VERVE-201 trial targeting the ANGPTL3 gene.

On May 31, 2024, Verve Therapeutics, a clinical-stage biotech firm focusing on gene editing medicines for cardiovascular disease, announced the granting of equity awards to four new employees under its 2024 Inducement Stock Incentive Plan. Following Nasdaq Listing Rule 5635(c)(4), the employees received a combined total of 23,600 restricted stock units (RSUs). These RSUs will vest annually over four years starting from July 1, 2024, contingent upon continued employment.

Verve Therapeutics has announced a leadership update with Troy Lister, Ph.D., being promoted to Chief Scientific Officer (CSO), effective June 21, 2024. Lister has been with Verve for two years, bringing over 15 years of experience, including roles at Spero Therapeutics, Novartis, and AstraZeneca.

Andrew Bellinger, M.D., Ph.D., the outgoing CSO who has served since 2019, will continue in an advisory capacity. Bellinger significantly contributed to Verve's pipeline development and preclinical and clinical programs.

CEO Sekar Kathiresan, M.D., praised both Lister and Bellinger for their contributions and leadership in advancing Verve's mission to develop gene-editing medicines for cardiovascular disease.

Verve Therapeutics, a clinical-stage biotechnology company specializing in gene editing for cardiovascular disease, announced its participation in two upcoming investor conferences. Management will engage in fireside chats at the Jefferies Global Healthcare Conference on June 6, 2024, at 1 p.m. ET in New York, NY, and the Goldman Sachs 45th Annual Global Healthcare Conference on June 10, 2024, at 8 a.m. ET in Miami Beach, FL. Live webcasts of these events will be available on the company's website and will remain accessible for 30 days post-event.

Verve Therapeutics reported pipeline updates and financial results for the first quarter of 2024. The company dosed the first patient in the Heart-2 Phase 1b clinical trial of VERVE-102, with plans to initiate the VERVE-201 clinical trial in the second half of the year. Verve also received a milestone payment from Eli Lilly for a gene editing program targeting Lp(a). The company's cash position is strong, with $606.4 million in cash and marketable securities, providing runway into late 2026.

Verve Therapeutics announced the dosing of the first patient in the Heart-2 Phase 1b clinical trial evaluating VERVE-102, an investigational in vivo base editing medicine designed to reduce blood low-density lipoprotein cholesterol. The trial is enrolling patients with heterozygous familial hypercholesterolemia or premature coronary artery disease. VERVE-102 aims to permanently inactivate the PCSK9 gene in the liver, providing sustained reductions in LDL-C levels after a single treatment.