Vera’s first drug enters a fast-growing IgAN market

Vera Therapeutics Inc. (NASDAQ: VERA) received accelerated US approval for Trutakna on July 7 to reduce proteinuria in adults with primary immunoglobulin A nephropathy (IgAN) at risk of disease progression. The approval makes Trutakna the first therapy to target both B-cell activating factor (BAFF) and APRIL, two proteins involved in the production of the abnormal antibodies that drive IgAN. The approval marks Vera’s transition from a clinical-stage biotech to a commercial company, with Trutakna its first marketed product.

Visible Alpha consensus shows analysts expect Trutakna’s IgAN revenue at $24 million in 2026, rising to $215 million in 2027, its first full year on the US market. Consensus sees sales reaching $3.1 billion by 2037, implying substantial expectations for the drug to establish itself in a growing but increasingly competitive IgAN market.

Trutakna enters the market alongside Novartis AG's (SIX: NOVN) Fabhalta, Travere Therapeutics Inc.'s (NASDAQ: TVTX) Filspari, and Otsuka Holdings Co. Ltd.'s (TYO: 4578) Voyxact The three drugs take different approaches to treating the disease. Voyxact selectively blocks APRIL, Fabhalta targets the alternative complement pathway, while Filspari blocks endothelin A and angiotensin II receptors.

Analysts expect 2026 revenue of $689 million for Fabhalta, $538 million for Filspari and $429 million for Voyxact. Fabhalta received traditional U.S. Food and Drug Administration approval in July 2026 after initially receiving accelerated approval in 2024, while Filspari was the first FDA-approved therapy specifically indicated to reduce the risk of disease progression in adults with IgAN.

This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.