Vera Therapeutics Shares Rise 9.9% After Alpine Acquisition
By Ben Glickman
Shares of Vera Therapeutics were up late Wednesday after Alpine Immune Sciences, whose lead candidate is similar to Vera's, said it would be acquired at a premium.
Vera stock was up 9.9% to $45.74 in late trading, after rising 9.8% in the regular session on earlier reports of the deal. Shares have more than doubled this year as of Wednesday's close.
Alpine agreed to be acquired by Vertex Pharmaceutical for about $4.9 billion in cash, or $65 a share, representing a premium of about 67% on Alpine's unaffected share price before rumors of the deal.
Alpine's lead candidate, povetacicept, is a potential treatment for IgA nephropathy, a kidney condition.
Vera's lead candidate, atacicept, is being evaluated as a treatment for various autoimmune diseases, including IgA nephropathy.
The two treatments use similar mechanisms, blocking B-cell Activating Factor and A PRoliferation-Inducing Ligand, both types of proteins.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
April 10, 2024 18:48 ET (22:48 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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