Vertex poses ‘no threat’ to Vera Therapeutics’ atacicept, says BofA

After Vertex (VRTX) reported interim data from its Phase 3 trial of povetacicept in IgA nephropathy patients, BofA said the topline data, which was in-line with the firm’s base case expectations, appears to pose “no real threat” to Vera Therapeutics’ (VERA) atacicept commercial opportunity based on a cross-trial comparison of clinical profiles. The firm, which models $2.2B in peak sales for atacicept in IgAN alone, reiterates a Buy rating on Vera based on its view that atacicept’s peak sales potential are “underappreciated.”