Verve Therapeutics, Inc.
Description
Verve Therapeutics, Inc., a clinical stage genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases in the United States. The company's lead product candidate is VERVE-101, a single-course gene editing treatment that permanently turns off the PCSK9 gene in the liver; and VERVE-102, a product candidate that targets the PCSK9 gene for the treatment of HeFH. It engages in the development of ANGPTL3 program to permanently turn off the ANGPTL3 gene in the liver. It has a collaboration and license agreement with Beam Therapeutics Inc.; a development and option agreement with Acuitas Therapeutics, Inc.; and a Cas9 license agreement with The Broad Institute and the President and Fellows of Harvard College. The company was formerly known as Endcadia, Inc. and changed its name to Verve Therapeutics, Inc. in January 2019. Verve Therapeutics, Inc. was incorporated in 2018 and is headquartered in Cambridge, Massachusetts.
About
CEO
Dr. Sekar Kathiresan M.D.
Employees
255
Instrument type
Common Stock
Sector
Healthcare
Industry
Biotechnology
MIC code
XNGS
Address
201 Brookline Avenue, Cambridge, MA 02215, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 5, 2024 | -0.70 | -0.59 | 0.11 | -15.71% |
| Aug 8, 2024 | -0.68 | -0.59 | 0.09 | -13.24% |
| May 8, 2024 | -0.71 | -0.59 | 0.12 | -16.90% |
| Feb 27, 2024 | -0.82 | -0.69 | 0.13 | -15.85% |
| Nov 7, 2023 | -0.92 | -0.72 | 0.20 | -21.74% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 6 | — | 9 |
| Average estimate | — | -0.74 | — | -2.91 |
| Low estimate | — | -0.87 | — | -3.61 |
| High estimate | — | -0.60 | — | -2.28 |
| Last year EPS | — | -0.59 | — | -2.44 |
[stock_revenue_estimate]
Growth estimates
Current qtr
2.820%
Next qtr. (Mar 2025)
-24.580%
Current year
21.670%
Next year (Dec 2025)
-18.940%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 11.76M | 1.94M | — | — | — |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | 184.95M | 130.10M | 68.20M | 35.37M | 11.14M |
| Selling general and admin | 49.94M | 37.53M | 18.87M | 5.26M | 2.50M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -223.12M | -165.69M | -87.07M | -40.63M | -13.64M |
| Non operating interest income | |||||
| Income | — | — | — | 162,000 | 278,000 |
| Expense | — | — | — | — | — |
| Other income expense | 165,000 | 1.49M | -33.39M | -5.24M | -5.93M |
| Pretax income | -199.79M | -157.33M | -120.31M | -45.70M | -19.30M |
| Tax provision | 275,000 | 53,000 | — | — | — |
| Net income | -200.07M | -157.39M | -120.31M | -45.70M | -19.30M |
| Basic EPS | -3.12 | -2.91 | -4.48 | -1.57 | -0.66 |
| Diluted EPS | -3.12 | -2.91 | -4.48 | -1.57 | -0.66 |
| Basic average shares | 64.18M | 54.02M | 26.87M | 29.17M | 29.17M |
| Diluted average shares | 64.18M | 54.02M | 26.87M | 29.17M | 29.17M |
| EBITDA | -217.67M | -162.88M | -85.53M | -39.30M | -13.54M |
| Net income from continuing op. | -200.07M | -157.39M | -120.31M | -45.70M | -19.30M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 752.69M | 679.22M | 384.12M | 78.41M | 21.65M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 206.18M | 115.41M | 64.33M | 8.99M | 2.99M |
| Other short term investments | 417.77M | 439.40M | 296.11M | 63.12M | 15.80M |
| Accounts receivable | — | — | — | — | — |
| Other receivables | 5.90M | 1.01M | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | 6.69M | 1.85M | 272,000 |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 8.10M | 7.34M | 6.69M | 1.85M | 272,000 |
| Non current assets | |||||
| Properties | 114.15M | 112.26M | 10.41M | 3.94M | 1.67M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 3.32M | 3.12M | 724,000 | 586,000 | 149,000 |
| Construction in progress | — | — | — | — | — |
| Leases | 726,000 | 266,000 | 266,000 | 259,000 | 648,000 |
| Accumulated depreciation | -10.39M | -4.99M | -2.33M | -798,000 | -109,000 |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 6.94M | 5.41M | 7.93M | 463,000 | 235,000 |
| Total liabilities | 153.19M | 128.29M | 26.77M | 142.32M | 41.20M |
| Current liabilities | |||||
| Accounts payable | 6.64M | 2.42M | 7.08M | 36,000 | 2.41M |
| Accrued expenses | 7.84M | 11.64M | 6.94M | 5.55M | 487,000 |
| Short term debt | 10.19M | 11.90M | 1.96M | — | — |
| Deferred revenue | — | — | — | 90,000 | 31,000 |
| Tax payable | — | — | — | — | — |
| Pensions | 12.34M | 9.12M | 6.05M | 1.64M | 624,000 |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 64.72M | 70.01M | — | — | — |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 2.91M | 3.17M | 4.75M | 9.72M | 2.46M |
| Shareholders equity | |||||
| Common stock | 82,000 | 62,000 | 49,000 | 3,000 | 2,000 |
| Retained earnings | -544.31M | -344.24M | -186.85M | -66.54M | -20.83M |
| Other shareholders equity | 272,000 | -694,000 | -228,000 | 8,000 | 9,000 |
| Total shareholders equity | 599.50M | 550.93M | 357.35M | -63.91M | -19.55M |
| Additional paid in capital | 1.14B | 895.80M | 544.38M | 2.62M | 1.27M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -200.07M | -157.39M | -120.31M | -45.70M | -19.30M |
| Depreciation | 5.46M | 2.80M | 1.54M | 1.33M | 106,000 |
| Deferred Taxes | — | — | — | — | — |
| Stock-Based Compensation | 35.12M | 22.48M | 7.07M | 850,000 | 446,000 |
| Other Non-Cash Items | 6.63M | 2.42M | 35.23M | 5.24M | 8.71M |
| Accounts Receivable | -5.89M | -1.01M | — | — | — |
| Accounts Payable | 3.91M | -5.22M | 6.83M | -1.90M | 1.74M |
| Other Assets & Liabilities | 21.32M | 17.00M | -8.19M | 51,000 | 163,000 |
| Operating Cash Flow | -133.53M | -118.91M | -77.84M | -40.13M | -8.13M |
| Investing Activities | |||||
| Capital Expenditures | -9.28M | -13.23M | -4.36M | -3.42M | -1.86M |
| Net Intangibles | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — |
| Purchase of Investments | -517.14M | -479.40M | -371.49M | -98.48M | -22.00M |
| Sale of Investments | 554.11M | 336.68M | 136.76M | 50.78M | 11.10M |
| Investing Cash Flow | 27.69M | -155.96M | -239.10M | -51.13M | -12.76M |
| Financing Activities | |||||
| Long-Term Debt Issuance | — | — | — | — | 24,000 |
| Long-Term Debt Payments | — | — | — | — | -110,000 |
| Other Financing Charges | -458,000 | -783,000 | -3.63M | — | — |
| Financing Cash Flow | 210.00M | 325.71M | 375.34M | 92.62M | 17.95M |
| Other Cash Details | |||||
| End Cash Position | 210.95M | 120.24M | 69.57M | 9.46M | 3.22M |
| Income Tax Paid | — | — | — | — | — |
| Interest Paid | — | — | — | — | — |
| Free Cash Flow | -158.83M | -135.56M | -82.24M | -38.69M | -9.30M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF | Nov 30, 2024 | 2,303,207 | 19.88M | 2.72% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 2,153,946 | 18.59M | 2.54% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 1,986,776 | 17.15M | 2.35% |
| Price (T.Rowe) Small-Cap Value Fund | Sep 30, 2024 | 1,241,535 | 10.71M | 1.47% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 986,799 | 8.52M | 1.17% |
| College Retirement Equities Fund-Stock Account | Sep 30, 2024 | 868,910 | 7.50M | 1.03% |
| TIAA-CREF Funds-Nuveen Quant Small Cap Equity Fund | Oct 31, 2024 | 856,597 | 7.39M | 1.01% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 722,725 | 6.24M | 0.85% |
| iShares Russell 2000 Value ETF | Nov 30, 2024 | 689,341 | 5.95M | 0.81% |
| JP Morgan Small Cap Growth Fund | Sep 30, 2024 | 653,777 | 5.64M | 0.77% |
Article
Verve Therapeutics Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
BOSTON, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Verve Therapeutics, a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, today announced that on January 31, 2025, the company granted equity awards to eight new employees, pursuant to the company's 2024 Inducement Stock Incentive Plan, as an inducement material to each new employee entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).
Feb 3, 2025
Article
Kuehn Law Encourages Investors of Verve Therapeutics, Inc. to Contact Law Firm
NEW YORK , Jan. 31, 2025 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Verve Therapeutics, Inc. (NASDAQ: VERV) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing.
Jan 31, 2025
Article
Verve Therapeutics to Participate in the Guggenheim Securities SMID Cap Biotech Conference
BOSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Verve Therapeutics, a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, today announced that Sekar Kathiresan, M.D., co-founder and chief executive officer, will participate in a fireside chat at the Guggenheim Securities SMID Cap Biotech Conference on Wednesday, February 5, 2025 at 9 a.m. ET in New York.
Jan 29, 2025
