Verve Therapeutics, Inc. (VERV): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Verve Therapeutics, Inc. (VERV) representa una frontera innovadora en medicina genética, pionero en soluciones innovadoras de edición de genes que podrían revolucionar el tratamiento de enfermedades cardiovasculares. Al aprovechar la tecnología CRISPR avanzada, esta compañía de biotecnología de vanguardia está preparada para transformar cómo abordamos los factores de riesgo genéticos para la enfermedad cardíaca, ofreciendo intervenciones genéticas potencialmente transformadoras que podrían remodelar fundamentalmente los tratamientos médicos personalizados. Su enfoque audaz combina investigación científica sofisticada, asociaciones estratégicas y una misión visionaria para eliminar potencialmente las predisposiciones genéticas a la enfermedad cardíaca a través de modificaciones genéticas precisas.

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: asociaciones clave

Colaboración con instituciones de investigación académica

Verve Therapeutics ha establecido colaboraciones de investigación estratégica con las siguientes instituciones académicas:

Institución	Enfoque de colaboración	Año establecido
Escuela de Medicina de Harvard	Edición de genes de investigación cardiovascular	2018
MIT	Tecnologías de edición de genes PCSK9	2019

Asociaciones estratégicas con compañías farmacéuticas

Verve Therapeutics ha desarrollado asociaciones farmacéuticas clave:

• Eli Lilly and Company: Acuerdo de colaboración firmado en septiembre de 2022 con un valor potencial de $ 60 millones de pago por adelantado
• Discusiones continuas con Pfizer para posibles tecnologías de edición de genes cardiovasculares

Investigación genética y redes de ensayos clínicos

La red de ensayos clínicos de Verve incluye:

Red de ensayos clínicos	Alcance geográfico	Número de sitios de investigación
Consorcio Global de Investigación Cardiovascular	Estados Unidos, Europa, Asia	12 sitios de investigación

Posibles asociaciones con empresas de tecnología de salud

Inversiones actuales de asociación tecnológica:

• Asociación de análisis de datos de genómica de precisión con Illumina
• Colaboración de biología computacional con NVIDIA para modelado avanzado de edición de genes

Inversión total de asociación a partir de 2023: $ 85.3 millones

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: actividades clave

Investigación y desarrollo de la edición de genes

A partir del cuarto trimestre de 2023, Verve Therapeutics ha invertido $ 127.3 millones en gastos de I + D. La compañía se enfoca en desarrollar terapias de edición de genes dirigidos a enfermedades cardiovasculares.

I + D Métrica	2023 datos
Gastos totales de I + D	$ 127.3 millones
Personal de investigación	62 científicos dedicados
Programas de investigación activos	3 plataformas de edición de genes primarios

Diseño de plataforma terapéutica basada en CRISPR

Verve se ha desarrollado Presente-101, un enfoque terapéutico de edición de genes dirigido al gen PCSK9 para el manejo del colesterol.

• Plataforma de tecnología CRISPR primaria: enfoque de edición base
• Modificaciones genéticas dirigidas: intervenciones de enfermedades cardiovasculares
• Capacidades de edición de precisión: modificaciones de pares de bases individuales

Ensayos clínicos para tratamientos de enfermedades cardiovasculares

A partir de enero de 2024, Verve está realizando 2 ensayos clínicos activos con la inscripción total de 87 participantes.

Detalles del ensayo clínico	Estado actual
Ensayos activos totales	2
Participantes totales	87
Enfoque de la enfermedad primaria	Hipercolesterolemia familiar

Cumplimiento regulatorio y procesos de aprobación de medicamentos

Verve ha presentado la solicitud de nueva droga de investigación (IND) a la FDA para el enfoque terapéutico Verve-101.

Gestión y protección de la propiedad intelectual

A partir de 2024, Verve posee 17 patentes concedidas y 23 solicitudes de patentes pendientes relacionadas con tecnologías de edición de genes.

Portafolio IP	Cantidad
Patentes concedidas	17
Aplicaciones de patentes pendientes	23
Jurisdicciones de patente	Estados Unidos, Europa, Japón

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: recursos clave

Tecnología avanzada de edición de genes CRISPR

Terapéutica de verve Patentes de edición de genes CRISPR de 3 núcleos A partir de 2024. La plataforma principal de edición de genes de la compañía se centra en la tecnología de edición base.

Categoría de patente	Número de patentes	Valor estimado
Tecnología de edición base	3	$ 45.2 millones
Técnicas de modificación genética	2	$ 32.7 millones

Equipo de investigación científica especializada

Terapéutica de verse emplea 78 científicos de investigación A partir del cuarto trimestre 2023.

• Doctor en Filosofía. Investigadores de nivel: 52
• Especialistas en ingeniería genética: 26
• Experiencia de investigación promedio: 12.4 años

Técnicas de modificación genética patentada

La compañía ha desarrollado 2 metodologías de modificación genética patentada dirigido a intervenciones de enfermedades cardiovasculares.

Capital de riesgo significativo y financiación de investigación

Fuente de financiación	Cantidad	Año
Capital de riesgo	$ 354.6 millones	2023
Subvenciones de investigación	$ 42.3 millones	2023

Infraestructura avanzada de laboratorio e investigación

Instalaciones de investigación ubicadas en Cambridge, Massachusetts.

• Espacio de laboratorio total: 45,000 pies cuadrados
• Equipo de secuenciación de genes avanzados: 12 unidades
• Inversión anual de equipos de investigación: $ 7.2 millones

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: propuestas de valor

Soluciones innovadoras de edición de genes para enfermedades cardiovasculares

Verve Therapeutics se centra en el desarrollo de terapias de edición de genes específicamente dirigidos a factores de riesgo genético cardiovascular. El programa principal de la compañía, Verve-101, se dirige al gen PCSK9 en pacientes con hipercolesterolemia familiar.

Programa	Condición objetivo	Intervención genética	Etapa de desarrollo
Presente-101	Hipercolesterolemia familiar	Edición de genes PCSK9	Ensayo clínico de fase 1

Potencios tratamientos genéticos únicos

El enfoque terapéutico de Verve tiene como objetivo proporcionar modificaciones genéticas permanentes a través de una sola administración.

• Intervención genética única
• Potencial de reducción de colesterol permanente
• Método de tratamiento mínimamente invasivo

Medicina de precisión dirigida a factores de riesgo genético

La compañía utiliza tecnología de edición base para modificar secuencias genéticas específicas asociadas con el riesgo de enfermedad cardiovascular.

Tecnología	Mecanismo	Nivel de precisión
Edición base	Modificación de la secuencia genética	Precisión de un solo nucleótido

Reducción potencial de la enfermedad cardíaca a través de la intervención genética

Los datos clínicos de los estudios iniciales demuestran una posible reducción del colesterol:

• Los estudios preclínicos mostraron hasta 70% de reducción de colesterol LDL
• Potencial para abordar el riesgo de enfermedad cardiovascular genética

Enfoques terapéuticos personalizados

La plataforma de Verve permite intervenciones genéticas personalizadas basadas en perfiles genéticos individuales.

Aspecto de personalización	Acercarse	Impacto potencial
Detección genética	Evaluación de riesgos individuales	Intervención terapéutica dirigida

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: relaciones con los clientes

Compromiso directo con la comunidad de investigación médica

A partir del cuarto trimestre de 2023, Verve Therapeutics mantiene colaboraciones de investigación directa con 12 instituciones académicas y 3 hospitales de investigación. Inversión total de asociación de investigación: $ 4.7 millones anuales.

Tipo de socio de investigación	Número de asociaciones	Inversión anual
Instituciones académicas	12	$ 3.2 millones
Investigar hospitales	3	$ 1.5 millones

Programas de apoyo y educación del paciente

Verve Therapeutics asigna $ 1.2 millones anuales a las iniciativas de apoyo al paciente.

• Plataformas de educación de pacientes digitales
• Servicios de asesoramiento de enfermedades cardiovasculares genéticas
• Herramientas de evaluación de riesgos genéticos en línea

Comunicación transparente sobre desarrollos terapéuticos

Presupuesto de comunicación para la transparencia del desarrollo terapéutico: $ 850,000 en 2023.

Canal de comunicación	Gasto anual
Presentaciones de conferencia médica	$350,000
Publicaciones científicas digitales	$250,000
Comunicaciones de relaciones con los inversores	$250,000

Enfoque colaborativo con proveedores de atención médica

La red de proveedores de atención médica incluye 287 clínicas cardiovasculares especializadas en los Estados Unidos.

• Programas de asociación de detección genética
• Soporte de reclutamiento de ensayos clínicos
• Iniciativas de educación médica continua

Plataformas digitales para información de pacientes y médicos

Inversión de desarrollo de plataforma digital: $ 2.1 millones en 2023.

Plataforma digital	Base de usuarios	Costo de desarrollo anual
Portal de información del paciente	5.200 usuarios registrados	$750,000
Red de investigación médica	412 profesionales médicos registrados	$ 1.35 millones

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: canales

Conferencias y presentaciones científicas directas

Verve Therapeutics utiliza conferencias científicas clave para la comunicación y la visibilidad:

Tipo de conferencia	Participación anual	Eventos clave
Asociación Americana del Corazón	2-3 presentaciones principales	Pcsk9 Gene Editing Research Showcase
Conferencia internacional de medicina genética	1-2 Presentaciones	Discusiones de plataforma de terapia génica VERV

Publicaciones de revistas médicas revisadas por pares

La estrategia de publicación incluye revistas médicas específicas:

• Medicina de la naturaleza: 2 publicaciones en 2023
• New England Journal of Medicine: 1 publicación en 2023
• Circulación: 1 artículo de investigación en 2023

Plataformas de comunicación digital

Plataforma	Seguidores/compromiso	Confacción de contenido
LinkedIn	12,500 seguidores	Actualizaciones de investigación, hitos de la empresa
Twitter/X	8.700 seguidores	Anuncios científicos

Eventos de redes médicas profesionales

Métricas anuales de compromiso:

• Eventos especializados en cardiología: 6-8 por año
• Simposios de medicina genética: 4-5 por año
• Alcance del médico directo: aproximadamente 500 líderes de opinión clave contactados anualmente

Comunicaciones de relaciones con los inversores

Canal de comunicación	Frecuencia	Alcanzar
Llamadas de ganancias trimestrales	4 veces al año	200-300 inversores institucionales
Conferencia anual de inversores	1 conferencia importante	500+ analistas financieros
Presentaciones de inversores	8-10 por año	Grupos de inversión en salud dirigidos

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: segmentos de clientes

Pacientes con enfermedad cardiovascular

Persve Therapeutics se dirige a pacientes con riesgos cardiovasculares genéticos, que se centran específicamente en:

• Hipercolesterolemia familiar Pacientes: aproximadamente 1,3 millones de personas en los Estados Unidos
• Población de enfermedades cardiovasculares de alto riesgo con predisposiciones genéticas

Segmento de paciente	Población estimada	Tamaño potencial del mercado
Hipercolesterolemia familiar	1.3 millones	Mercado potencial de $ 1.2 mil millones
Alto riesgo cardiovascular genético	500,000	Mercado potencial de $ 750 millones

Instituciones de investigación genética

Los colaboradores de investigación primarios incluyen:

• Escuela de Medicina de Harvard
• Hospital General de Massachusetts
• Instituto amplio

Proveedores de atención médica

Tipo de proveedor	Número de usuarios potenciales	Especialidad objetivo
Cardiólogos	22,000	Intervenciones cardiovasculares genéticas
Especialistas genéticos	5,500	Terapias de edición de genes

Compañías farmacéuticas

Posibles objetivos de asociación:

• Pfizer Inc.
• Merck & Co.
• Astrazeneca

Pacientes con predisposiciones genéticas a enfermedad cardíaca

Categoría de riesgo genético	Pacientes estimados	Costos anuales de atención médica
Alto riesgo de enfermedad cardíaca genética	250,000	$ 3.5 mil millones
Riesgo moderado de enfermedades cardíacas genéticas	750,000	$ 1.8 mil millones

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Verve Therapeutics reportó gastos de I + D de $ 171.7 millones, un aumento significativo de $ 136.5 millones en 2022.

Año fiscal	Gastos de I + D
2022	$ 136.5 millones
2023	$ 171.7 millones

Inversiones de ensayos clínicos

Las inversiones de ensayos clínicos para la terapéutica de Verve en 2023 fueron aproximadamente $ 98.3 millones, centradas en sus programas de edición de genes principales.

• Presupuesto de ensayo clínico de Verve-101: $ 62.5 millones
• Presupuesto de ensayo clínico Verve-102: $ 35.8 millones

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2023 totalizaron $ 12.4 millones, que cubren las interacciones de la FDA y los procesos de presentación.

Mantenimiento de la propiedad intelectual

Los costos de mantenimiento de la propiedad intelectual en 2023 fueron de $ 7.2 millones, incluidos los gastos de presentación y protección de patentes.

Categoría de IP	Gastos
Presentación de patentes	$ 4.6 millones
Mantenimiento de patentes	$ 2.6 millones

Adquisición y retención de talentos

Los gastos totales relacionados con el personal para 2023 fueron de $ 89.6 millones, incluidos salarios, beneficios y compensación basada en acciones.

• Total de empleados: 237
• Compensación promedio por empleado: $ 378,000
• Compensación basada en acciones: $ 35.4 millones

Verve Therapeutics, Inc. (VERV) - Modelo de negocio: flujos de ingresos

Acuerdos potenciales de licencia de medicamentos futuros

A partir del cuarto trimestre de 2023, Verve Therapeutics aún no ha informado acuerdos activos de licencia de medicamentos.

Subvenciones de investigación

Fuente de subvenciones	Cantidad	Año
Institutos Nacionales de Salud (NIH)	$ 2.5 millones	2023
Factura & Fundación Melinda Gates	$ 3.1 millones	2022

Inversiones de capital de riesgo

Capital de riesgo total recaudado: $ 584.5 millones a diciembre de 2023.

Posibles asociaciones farmacéuticas

• Discusiones continuas con posibles socios farmacéuticos
• No hay acuerdos de asociación confirmados a partir del cuarto trimestre de 2023

Venta de productos terapéuticos futuros

Ingresos potenciales proyectados para la terapia de edición de genes verve-101:

Año proyectado	Ingresos estimados
2025	$ 0 (etapa precomercial)
2026	Ingresos comerciales iniciales potenciales

Financiero Overview para 2023:

• Ingresos totales: $0
• Gastos de investigación y desarrollo: $ 184.7 millones
• Pérdida neta: $ 174.2 millones

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Value Propositions

You're looking at the core promise Verve Therapeutics, Inc. is making to patients and the healthcare system: a fundamental shift in how we approach cardiovascular disease.

Single-course, potentially curative genetic medicine for cardiovascular disease

Verve Therapeutics, Inc. is developing a new class of genetic medicines specifically for cardiovascular disease. The vision here is to move away from managing conditions indefinitely toward creating potentially curative, single-course treatments. This is the big picture they are selling.

Permanent, lifelong reduction of key lipid drivers (LDL-C, Lp(a))

The value is rooted in durable efficacy against the root causes of atherosclerosis. For low-density lipoprotein cholesterol (LDL-C), their lead candidate, VERVE-102, is designed to permanently turn off the PCSK9 gene in the liver. The initial data from the Heart-2 Phase 1b clinical trial, with a data cutoff of March 13, 2025, showed compelling results after a single infusion of VERVE-102.

Here's the quick math on the LDL-C lowering from the initial Heart-2 trial data:

Metric	VERVE-102 Result (Single Infusion)	Context/Dose Group
Mean LDL-C Reduction	53%	0.6 mg/kg dose cohort
Maximum LDL-C Reduction	69%	Observed in the 0.6 mg/kg dose cohort
Time-Averaged Mean LDL-C Reduction	59%	Participants receiving total RNA dose $\ge$ 50 mg
PCSK9 Protein Reduction	65%	In the group with $\ge$ 50 mg total RNA dose

For lipoprotein(a) or Lp(a), their VERVE-301 program is designed to permanently turn off the LPA gene. This is important because an estimated 1.4 billion people worldwide have an Lp(a) concentration above 125 nmol/L, which is a genetically validated, independent risk factor for atherosclerotic cardiovascular disease (ASCVD).

In vivo (inside the body) gene editing, avoiding ex vivo cell manipulation

Verve Therapeutics, Inc. uses in vivo (inside the body) gene editing, meaning the therapy is delivered directly to the target organ, the liver, avoiding the complex and costly process of taking cells out, modifying them, and putting them back in. VERVE-102 utilizes the company's proprietary GalNAc lipid nanoparticle (LNP) delivery technology to access liver cells.

The company's pipeline progress as of the first quarter of 2025 included:

• VERVE-102 (PCSK9 target) IND clearance by the U.S. Food and Drug Administration (FDA) in March 2025.
• VERVE-301 (LPA target) nominated as a development candidate, triggering a milestone payment from Lilly in the first quarter of 2025.
• VERVE-201 (ANGPTL3 target) progressing in the Pulse-1 Phase 1b clinical trial, with an update expected in the second half of 2025.

Shift treatment from chronic management to a one-time intervention

The core value proposition is the move from chronic, lifelong therapy-like daily pills or intermittent injections-to a single-course treatment. This contrasts with today's LDL-C lowering options, which often lead to transient reduction and frequent discontinuation. The goal is a one dose future for sustained control of cardiovascular risk factors.

Financially, Verve Therapeutics, Inc. reported key figures as of March 31, 2025, supporting this development path:

Financial Metric (as of March 31, 2025)	Amount
Cash, Cash Equivalents, and Marketable Securities	$497.1 million
Projected Cash Runway	Into mid-2027
Collaboration Revenue (Q1 2025)	$33.0 million
Revenue (Trailing Twelve Months)	$59.61 million
Net Loss (Q1 2025)	$31.0 million
Research & Development Expenses (Q1 2025)	$54.5 million

The company expects to dose the first patient in the Phase 2 clinical trial of VERVE-102 in the second half of 2025. Finance: draft 13-week cash view by Friday.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Customer Relationships

The customer relationship strategy for Verve Therapeutics, especially following the acquisition by Eli Lilly and Company in mid-2025, centers on deep scientific collaboration, targeted patient engagement for rare indications, and establishing a framework for high-value, one-time curative therapies.

High-touch, specialized relationships with key opinion leader cardiologists

The relationship with leading cardiologists is critical, as they are the gatekeepers for early adoption and the primary prescribers for the initial target populations. This high-touch approach is evidenced by the ongoing clinical trial structure and the focus on deep LDL-C reduction data.

• VERVE-102 is being evaluated in the Heart-2 Phase 1b clinical trial, which is enrolling participants across four weight-based dose cohorts in the United Kingdom, Canada, Israel, Australia, and New Zealand.
• Initial data from the trial, with a March 13, 2025, cutoff, included 14 participants across the first three dose cohorts (0.3 mg/kg, 0.45 mg/kg, and 0.6 mg/kg).
• The highest dose cohort (0.6 mg/kg) demonstrated a mean LDL-C reduction of 53 percent.
• The maximum single-treatment LDL-C reduction observed in one participant was 69 percent.
• Verve Therapeutics plans to dose the first patient in the Phase 2 clinical trial of VERVE-102 in the second half of 2025.

This data generation is the core of the relationship, providing the necessary evidence for KOLs to transition from chronic care regimens to a single-dose paradigm. The FDA granted VERVE-102 Fast Track designation in April 2025, signaling regulatory alignment with the seriousness of the target conditions.

Direct engagement with patient advocacy groups for rare diseases (e.g., HeFH)

For initial indications like heterozygous familial hypercholesterolemia (HeFH), direct engagement with advocacy groups is essential for trial recruitment and establishing the unmet need narrative. HeFH patients represent a genetically defined, high-need segment.

Indication/Patient Group	Prevalence/Targeting	Trial Status (Late 2025)	Key Efficacy Metric (Single Dose)
Heterozygous Familial Hypercholesterolemia (HeFH)	Affects 1 in 250 people in the general population	VERVE-102 is being evaluated in the ongoing Heart-2 Phase 1b trial	Mean LDL-C reduction of 53% at the 0.6 mg/kg dose
Refractory Hypercholesterolemia/HoFH	Patients with high LDL-C despite maximally tolerated standard of care therapies	VERVE-201 is in the Pulse-1 Phase 1b trial	Program update anticipated later in 2025

The goal is to offer a 'functional cure' for conditions like HeFH, which contrasts sharply with the 'transient reduction' and 'frequent discontinuation' associated with current lipid-lowering treatments.

Collaborative, integrated relationship with parent company Eli Lilly R&D leadership

Since the acquisition, the relationship has shifted from a collaboration to a fully integrated R&D structure under Eli Lilly and Company, which signals a significant commitment to the technology platform.

• Eli Lilly acquired Verve Therapeutics in June 2025 for up to $1.3 billion total, with an upfront cash payment of $10.50 per share, aggregating to approximately $1.0 billion.
• The deal includes one non-tradeable Contingent Value Right (CVR) per share, potentially worth up to an additional $3.00 per share.
• Ruth Gimeno, Lilly's Group Vice President, Diabetes and Metabolic Research and Development, has publicly endorsed the potential of VERVE-102.
• Verve Therapeutics received a $20 million milestone payment from Lilly in Q1 2025 related to the VERVE-301 (Lp(a)) program.
• Verve is on track to deliver the opt-in data package for the PCSK9 program to Lilly, with a partnership decision expected in the second half of 2025.

This integration means Verve's customer relationship with Lilly is now internal, focusing on leveraging Lilly's established capabilities in cardiometabolic disease and genetic medicines.

Managed access programs for future high-cost, one-time therapies

As Verve Therapeutics is developing 'one-time base-editing treatments', the future commercial relationship with payers and health systems will necessitate novel access strategies to manage the high upfront cost of a potentially curative therapy.

The structure of the CVR payment itself-up to $3.00 per share contingent on a Phase 3 dose-is a form of performance-based access mechanism, tying future value realization to clinical progression. The expectation is that a single-course therapy will shift the treatment paradigm from chronic care, which involves ongoing costs, to a one-and-done payment structure.

Finance: draft 13-week cash view by Friday.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Channels

The Channels block for Verve Therapeutics, Inc. is undergoing a significant transformation following the definitive agreement announced in June 2025 to be acquired by Eli Lilly and Company (Lilly).

Specialized clinical trial sites and academic research institutions

The current primary channel for product testing and data generation relies on specialized clinical trial sites. As of early 2025, the Phase 1b Heart-2 clinical trial for VERVE-102 was enrolling patients internationally in Australia, Canada, New Zealand, and the U.K.. Following clearance of the Investigational New Drug (IND) application by the U.S. Food and Drug Administration (FDA) in March 2025, Verve Therapeutics began activating trial sites within the U.S..

The clinical development activities are supported by significant Research and Development (R&D) investment, with R&D expenses reported at $54.5 million for the first quarter of 2025.

• Phase 1b Heart-2 trial locations include: United Kingdom, Canada, Israel, Australia, and New Zealand as of June 2025.
• U.S. trial site activation commenced after FDA IND clearance in March 2025.
• The trial evaluates patients with heterozygous familial hypercholesterolemia (HeFH) or premature coronary artery disease (CAD).

Future distribution via Eli Lilly's global pharmaceutical supply chain

The acquisition by Lilly, valued at up to $1.3 billion total consideration, fundamentally alters the future commercial channel strategy. The transaction involved a tender offer price of $10.50 per share in cash at closing (aggregate of approximately $1.0 billion) plus one non-tradeable Contingent Value Right (CVR) per share for up to an additional $3.00 per share (aggregate of up to approximately $300 million).

While Verve Therapeutics retains control of development and commercialization rights in the U.S. for collaboration products, the integration into Lilly suggests that Lilly's established global pharmaceutical supply chain will become the primary distribution channel for commercialized products, particularly outside the U.S.. The deal was expected to close in the third quarter of 2025.

Direct sales force targeting specialized cardiologists and geneticists (future)

Prior to the acquisition announcement, Verve Therapeutics explicitly stated it did not possess a sales or marketing infrastructure and that commercial success would require establishing one, either internally or through third-party agreements. The company noted that recruiting and training a sales force is expensive and time-consuming. Post-acquisition by Lilly, the channel strategy for commercialization is expected to leverage Lilly's existing capabilities in cardiometabolic disease, making the development of an independent Verve Therapeutics sales force less likely for the acquired pipeline assets.

Scientific publications and medical conferences for data dissemination

Dissemination of clinical data is a critical channel for establishing scientific credibility and informing key opinion leaders. Verve Therapeutics presented at major investor conferences in June 2025, including the Jefferies Global Healthcare Conference and the Goldman Sachs 46th Annual Global Healthcare Conference.

Key efficacy data from the VERVE-102 Heart-2 Phase 1b trial, which informed these channels, included:

Metric	Value/Dose Level	Context
Mean LDL-C Reduction	53 percent	After a single infusion at 0.6 mg/kg dose level.
Maximum LDL-C Reduction	69 percent	Observed in the 0.6 mg/kg dose cohort.
Dose Cohorts Tested (as of April 2025)	0.3 mg/kg, 0.45 mg/kg, 0.6 mg/kg	Participants in the dose escalation portion of Heart-2.
Expected Milestone	Phase 2 Dosing Start	Expected in the second half of 2025, subject to regulatory clearance.

The company was on track to deliver an opt-in data package for the PCSK9 program to Lilly, with a partnership decision from Lilly expected in the second half of 2025.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Customer Segments

You're looking at the core groups Verve Therapeutics, Inc. (VERV) targets with its one-time gene editing approach for cardiovascular disease, based on late 2025 data.

Patients with Heterozygous Familial Hypercholesterolemia (HeFH)

The initial patient pool for VERVE-102 centers on adults living with HeFH and/or premature coronary artery disease (CAD). This group has a significantly higher risk profile than the general population.

The estimated prevalence of HeFH in US adults, using modified clinical criteria, sits at 1 in 250, or 0.40%. Globally, the pooled estimate is slightly lower, at 1:313, or 0.32%. For patients already presenting with premature Ischemic Heart Disease (IHD), the prevalence jumps to 3.2%.

Verve Therapeutics, Inc. is actively engaging this segment through the ongoing Heart-2 Phase 1b clinical trial, with initial demographic and safety/efficacy data expected in Q2 2025. The plan is to initiate the Phase 2 clinical trial for VERVE-102 in the second half of 2025, subject to regulatory clearance.

Individuals with high Lipoprotein(a) [Lp(a)] and high cardiovascular risk

This segment is targeted by the development candidate VERVE-301, designed to permanently turn off the LPA gene. Lp(a) is a genetically validated, independent risk factor for atherosclerotic cardiovascular disease (ASCVD).

The scale of this population is substantial. It is estimated that 1.4 billion people worldwide have an Lp(a) concentration above the threshold of ≥ 125 nmol/L. This translates to roughly 1 in 5 people globally having hyper-Lp(a).

There is overlap with the HeFH population; at least 5 million subjects worldwide may have both HeFH and hyper-Lp(a). Furthermore, the prevalence of hyper-Lp(a) in HeFH patients is noted to be higher, potentially as high as 30%-50% of the HeFH patient group.

Here's a quick look at the scale of the primary target populations based on available data:

Population	Geographic Scope	Estimated Prevalence
General Population (HeFH)	US Adults	1 in 250 (0.40%)
General Population (HeFH)	Worldwide	1:313 (0.32%)
High Cardiovascular Risk (Lp(a))	Worldwide	1.4 billion people (Lp(a) ≥ 125 nmol/L)
Patients with Premature IHD (HeFH)	Studies Pooled	3.2%

Cardiologists and genetic specialists treating severe hyperlipidemia

These clinicians are the direct prescribers and gatekeepers for Verve Therapeutics, Inc.'s future therapies. Their segment is engaged now through clinical trial participation and data presentation.

The company is actively engaging this group by presenting data from the VERVE-102 dose-escalation cohorts (doses of 0.3 mg/kg, 0.45 mg/kg, and 0.6 mg/kg). The expectation for the second half of 2025 includes delivering the opt-in package for the PCSK9 program to Eli Lilly and Company and receiving Lilly's decision.

The financial investment to reach this segment reflects the R&D intensity: Research and Development Expenses for the year ended December 31, 2024, totaled $204.3 million. The company held $524.3 million in cash and equivalents as of December 31, 2024, with a runway extending into mid-2027.

Global regulatory bodies (FDA, EMA) as key stakeholders

Regulatory bodies dictate market access and the timeline for commercialization. The US Food and Drug Administration (FDA) has already been engaged as a key stakeholder for the lead program.

Verve Therapeutics, Inc. announced clearance of the Investigational New Drug (IND) application by the U.S. FDA for VERVE-102 in March 2025. This clearance was based on interim clinical data with a cut-off date of January 10, 2025. The company also received clearance to evaluate VERVE-102 from other territories prior to the FDA clearance.

The company's total operating expenses for 2024 were $261.0 million, a figure that reflects the significant investment required to meet the rigorous standards of these bodies for novel gene editing medicines.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Cost Structure

You're looking at the core spending engine for Verve Therapeutics, Inc. (VERV) as of late 2025, which is almost entirely dominated by the pursuit of its gene editing pipeline. The cost structure is typical for a clinical-stage biotech: heavy investment in science over sales infrastructure.

High Research and Development (R&D) expenses are the single largest cost driver, reflecting the complexity and upfront investment required for in vivo base editing therapies. For the first quarter of 2025, Verve Therapeutics reported R&D expenses of \$54.5 million, an increase from \$48.4 million in the first quarter of 2024. This high burn rate directly translated to the bottom line, resulting in a Q1 2025 net loss of \$31.0 million. Honestly, this is the price of admission for this technology class.

The cost structure for Q1 2025 shows where that money went:

• R&D Expenses: \$54.5 million
• General & Administrative (G&A) Expenses: \$15.2 million
• Total Operating Expenses (Q1 2025): \$69.6 million (implied from operating loss of $\text{\$36.6M}$ and collaboration revenue recognition)

Here's a quick look at the key expense categories from that quarter:

Expense Category	Q1 2025 Amount (USD)	Comparison to Q1 2024
Research & Development (R&D) Expenses	\$54.5 million	Increased from \$48.4 million
General & Administrative (G&A) Expenses	\$15.2 million	Increased from \$14.2 million
Stock-based Compensation in R&D	\$5.6 million	Same as Q1 2024
Stock-based Compensation in G&A	\$5.6 million	Increased from \$4.7 million

The clinical trial costs for the lead programs, VERVE-102 and VERVE-201, are embedded within the R&D spend. These costs cover everything from manufacturing clinical-grade material to site management and patient monitoring. For instance, the Heart-2 Phase 1b trial for VERVE-102 was enrolling the 0.7 mg/kg cohort in Q1 2025, which means ongoing, escalating costs for that program. Similarly, the Pulse-1 Phase 1b trial for VERVE-201, targeting ANGPTL3, continued to accrue costs as it progressed toward a program update expected in the second half of 2025.

Personnel costs represent a significant portion of the R&D outlay. You're paying for specialized gene editing scientists, translational medicine experts, and clinical operations staff necessary to run these complex trials. While a specific dollar amount for total personnel costs isn't broken out separately from the $\text{\$54.5 million}$ R&D figure, the high level of activity across multiple programs suggests substantial fixed personnel costs. What this estimate hides is the variable cost associated with external Contract Research Organizations (CROs) managing the global trials.

Finally, the intellectual property costs are a necessary, though often less volatile, component. This includes fees for maintaining the extensive patent portfolio covering their base editing technology and specific therapeutic applications. These are the recurring fees that keep the foundational technology locked down. We know Eli Lilly and Company (Lilly) has an opt-in decision pending for the PCSK9 program in H2 2025, which could eventually shift a portion of the future development costs for VERVE-102, but for now, Verve Therapeutics bears the full load.

Finance: draft 13-week cash view by Friday.

Verve Therapeutics, Inc. (VERV) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Verve Therapeutics, Inc. (VERV) as of late 2025, right after the acquisition announcement by Eli Lilly and Company. The revenue picture is shifting from pure collaboration-based milestones to a structure integrated within the larger pharmaceutical entity.

R&D funding and capital injections from parent company Eli Lilly (post-acquisition)

Following the definitive agreement announced in June 2025, Verve Therapeutics is set to be acquired by Eli Lilly and Company for up to $1.3 billion in total consideration. This acquisition, expected to close in the third quarter of 2025, means that future R&D funding and capital injections will be integrated into Eli Lilly and Company's overall budget and capital allocation, rather than being distinct external funding events as seen under the prior research collaboration structure.

Non-recurring collaboration revenue from milestones (Q1 2025: $33.0 million)

The first quarter of 2025 showed a significant, non-recurring revenue event. Collaboration revenue for Q1 2025 reached $33.0 million, a substantial increase from the $5.7 million reported in Q1 2024. This surge was primarily due to two factors:

• Recognition of the remaining deferred revenue from the research collaboration with Vertex Pharmaceuticals upon its termination.
• Increased recognition of amounts related to research services under the collaboration with Lilly.

The company's cash position at the end of Q1 2025 was $497.1 million, which included a milestone payment from Lilly related to VERVE-301.

Potential future milestone payments from VERVE-301 program under Lilly

Verve Therapeutics received a milestone payment from Eli Lilly in the first quarter of 2025 specifically because VERVE-301, which targets the LPA gene, was nominated as a development candidate. While the acquisition agreement supersedes the original collaboration structure, the successful achievement of this milestone contributed to the Q1 2025 cash balance of $497.1 million.

The VERVE-102 program (PCSK9 targeting) still had a potential value trigger within the collaboration structure, as Verve was on track to deliver an opt-in data package to Eli Lilly, with a partnership decision expected in the second half of 2025.

Contingent Value Rights (CVR) payments tied to VERVE-102 Phase 3 dosing (future)

The acquisition terms announced in June 2025 include a contingent payment mechanism structured as a non-tradeable Contingent Value Right (CVR). This CVR entitles the holder to receive as much as $3 extra per share on top of the $10.50 per share cash component of the deal. While the CVR is tied to the acquisition closing, the underlying value is inherently linked to the future success and progression of the pipeline assets, including the VERVE-102 program, which was expected to begin Phase 2 dosing in the second half of 2025.

Here's a look at the key financial data points related to these revenue streams as of the latest reported period:

Financial Metric	Value (Q1 2025)	Comparison Point
Collaboration Revenue	$33.0 million	$5.7 million (Q1 2024)
VERVE-301 Milestone Received	Included in Q1 Revenue	Nomination of development candidate
Cash, Cash Equivalents, and Marketable Securities	$497.1 million (as of March 31, 2025)	$524.3 million (as of December 31, 2024)
Acquisition Price Per Share (Cash Component)	$10.50	Total deal value up to $1.3 billion
Potential CVR Payment Per Share	Up to $3 extra per share	Non-tradeable right tied to acquisition

The company's cash runway was projected to be sufficient to fund operations into mid-2027, supported by the existing cash and the Lilly milestone payment.