The FDA approved a new medicine from the biotech company Vera Therapeutics for patients with a type of chronic autoimmune kidney disease.

Vera Therapeutics awaits the FDA's July 7 decision on atacicept for IgA nephropathy as investors weigh trial data and competition from Novartis.

When Vera Therapeutics in-licensed atacicept from Merck KGaA about six years ago, patients with IgA nephropathy (IgAN) had no FDA-approved treatment options. | When Vera…