Verve Therapeutics(VERV) - 2024 Q4 - Annual Results

Financial Performance - Cash, cash equivalents, and marketable securities totaled $524.3 million as of December 31, 2024, down from$624.0 million as of December 31, 2023, providing a cash runway into mid-2027[9] - Collaboration revenue increased to $13.1 million for Q4 2024 and$32.3 million for the full year 2024, compared to $5.1 million and$11.8 million for the same periods in 2023, respectively[10] - R&D expenses were $55.0 million for Q4 2024 and$204.3 million for the full year 2024, compared to $46.8 million and$184.9 million for the same periods in 2023[12] - General and administrative expenses were $14.1 million for Q4 2024 and$56.6 million for the full year 2024, compared to $12.3 million and$49.9 million for the same periods in 2023[13] - Total operating expenses for Q4 2024 were $69.15 million, up from$59.09 million in Q4 2023, with annual operating expenses totaling $260.99 million compared to$234.88 million in 2023[20] - The net loss for Q4 2024 was $50.0 million, or$0.58 per share, and for the full year 2024 was $198.7 million, or$2.35 per share, compared to a net loss of $48.4 million, or$0.69 per share, for Q4 2023[14] - The net loss for Q4 2024 was $50.04 million, slightly higher than the net loss of$48.35 million in Q4 2023, with an annual net loss of $198.71 million compared to$200.07 million in 2023[20] - Basic and diluted net loss per share improved to $0.58 in Q4 2024 from$0.69 in Q4 2023, with annual net loss per share at $2.35 compared to$3.12 in 2023[20] - Total assets declined to $647.39 million in Q4 2024 from$752.69 million in Q4 2023[20] - Total stockholders' equity decreased to $493.40 million in Q4 2024 from$599.50 million in Q4 2023[20] - Total liabilities remained relatively stable at $153.99 million in Q4 2024 compared to$153.19 million in Q4 2023[20] Clinical Trials and Developments - Initial data from the Heart-2 Phase 1b clinical trial of VERVE-102 targeting PCSK9 is expected in the second quarter of 2025, with final dose escalation data anticipated in the second half of 2025[1] - VERVE-102 has been well-tolerated with no treatment-related serious adverse events reported as of February 13, 2025[3] - Enrollment is ongoing in the Pulse-1 Phase 1b clinical trial of VERVE-201 targeting ANGPTL3, with initial data expected in the second half of 2025[1] - The company plans to deliver the opt-in data package for the PCSK9 program to Eli Lilly and receive a decision in the second half of 2025[6] - VERVE-301 has been nominated as the development candidate targeting the LPA gene, with a milestone payment received from Lilly[11]