XML 39 R13.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Cash, Cash Equivalents, and Marketable Securities | 12 Months Ended
--- | ---
Dec. 31, 2024
Cash Equivalents And Marketable Securities [Abstract] |
Cash, Cash Equivalents, and Marketable Securities | 4. CASH, CASH EQUIVALENTS, AND MARKETABLE SECURITIES The Company’s cash equivalents and marketable securities are classified within the fair value hierarchy as defined by authoritative guidance. Level 1 securities consist of highly liquid money market funds for which the carrying amount approximates the fair value of identical assets as quoted in the active markets. Level 2 securities, consisting of U.S. Treasuries, U.S. agency securities and corporate debt securities, are measured based on other observable inputs, including broker or dealer quotations or other valuations using observable market data. The Company’s debt securities are accounted for as available-for-sale securities. Unrealized gains and losses are reported as a component of other comprehensive income (loss). Fair value of the debt securities was $552.8 million and $115.0 million as of December 31, 2024 and December 31, 2023, respectively. The following table presents the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):
|  | December 31, 2024 |
|  | Fair Value Hierarchy Level |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Cash and Cash Equivalents |  |  | Marketable Securities |
Money market funds |  | Level 1 |  | $ | 85,135 |  |  | $ | — |  |  | $ | — |  |  | $ | 85,135 |  |  | $ | 85,135 |  |  | $ | — |
U.S. Government bonds |  | Level 2 |  |  | 322,960 |  |  |  | 389 |  |  |  | (16 | ) |  |  | 323,333 |  |  |  | — |  |  |  | 323,333 |
U.S. Government agency securities |  | Level 2 |  |  | 999 |  |  |  | 1 |  |  |  | — |  |  |  | 1,000 |  |  |  | — |  |  |  | 1,000 |
Corporate debt securities |  | Level 2 |  |  | 228,446 |  |  |  | 182 |  |  |  | (163 | ) |  |  | 228,465 |  |  |  | 4,592 |  |  |  | 223,873 |
Total cash equivalents and marketable securities |  |  |  |  | 637,540 |  |  |  | 572 |  |  |  | (179 | ) |  |  | 637,933 |  |  |  | 89,727 |  |  |  | 548,206 |
Cash |  |  |  |  | 2,919 |  |  |  | — |  |  |  | — |  |  |  | 2,919 |  |  |  | 2,919 |  |  |  | — |
Total |  |  |  | $ | 640,459 |  |  | $ | 572 |  |  | $ | (179 | ) |  | $ | 640,852 |  |  | $ | 92,646 |  |  | $ | 548,206 |
|  | December 31, 2023 |
|  | Fair Value Hierarchy Level |  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Cash and Cash Equivalents |  |  | Marketable Securities |
Money market funds |  | Level 1 |  | $ | 44,650 |  |  | $ | — |  |  | $ | — |  |  | $ | 44,650 |  |  | $ | 44,650 |  |  | $ | — |
U.S. Government bonds |  | Level 2 |  |  | 63,619 |  |  |  | 70 |  |  |  | (6 | ) |  |  | 63,683 |  |  |  | — |  |  |  | 63,683 |
U.S. Government agency securities |  | Level 2 |  |  | 19,665 |  |  |  | 7 |  |  |  | (14 | ) |  |  | 19,658 |  |  |  | — |  |  |  | 19,658 |
Corporate debt securities |  | Level 2 |  |  | 31,500 |  |  |  | 194 |  |  |  | — |  |  |  | 31,694 |  |  |  | — |  |  |  | 31,694 |
Total cash equivalents and marketable securities |  |  |  |  | 159,434 |  |  |  | 271 |  |  |  | (20 | ) |  |  | 159,685 |  |  |  | 44,650 |  |  |  | 115,035 |
Cash |  |  |  |  | 1,031 |  |  |  | — |  |  |  | — |  |  |  | 1,031 |  |  |  | 1,031 |  |  |  | — |
Total |  |  |  | $ | 160,465 |  |  | $ | 271 |  |  | $ | (20 | ) |  | $ | 160,716 |  |  | $ | 45,681 |  |  | $ | 115,035 |
Marketable debt securities that had been in unrealized loss positions as of December 31, 2024 and 2023 were in an unrealized loss position for less than 12 months. Unrealized losses from marketable debt securities are primarily attributable to changes in interest rates. Management does not believe any remaining unrealized losses represent impairments based on evaluation of available evidence. The following table classifies the estimated fair value of investments in available-for-sale marketable debt securities by effective contractual maturity dates (in thousands):
|  | December 31, 2024 |
Due within one year |  | $ | 376,468 |
Due after one year to two years |  |  | 171,738 |
Total marketable securities |  | $ | 548,206 |

X
- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
Name: | us-gaap_CashCashEquivalentsAndMarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Cash equivalents and marketable securities abstract. + References No definition available. + Details
Name: | vera_CashEquivalentsAndMarketableSecuritiesAbstract
Namespace Prefix: | vera_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration