other material
confidence high
sentiment neutral
materiality 0.55
Vera Therapeutics restructures Novartis license milestone payments, issues ~$7M in stock
Vera Therapeutics, Inc.
- Amended license with Novartis for MAU868; capped total milestone payments at $62.0M.
- Issuing 283,034 shares of Class A common stock to Novartis, valued at ~$7M based on closing price plus 20% premium.
- Share issuance expected to close on or about September 13, 2022.
- Modification adjusts development and regulatory milestone payment structure under the existing license.