Shares of Vera Therapeutics climbed after the company said Trutakna, a treatment which helps mitigate the progression of certain kidney diseases, met all prespecified endpoints in a late-stage trial.

The stock rose 9.8%, to $37.39, in premarket trading Tuesday. Through Monday's close, shares have lost roughly 30% of their value year to date.

Vera before the bell said Trutakna achieved a statistically-significant reduction in risk of composite kidney disease progression, including proteinuria, or an excess of protein in urine.

Trutakna was well tolerated, with a favorable safety profile generally comparable to placebo, the biotechnology company added. The treatment was tested in adult patients with primary IgA nephropathy at risk for disease progression.

IgAN is a serious, progressive, immune-mediated kidney disease, as well as a leading cause of chronic kidney disease and kidney failure worldwide, according to Vera.

Chief Executive Marshall Fordyce said Vera intends to submit a supplemental biologics license application with the U.S. Food and Drug Administration in the fourth quarter, targeting the potential full approval of Trutakna in 2027.