$VERV
Verve Therapeutics, Inc. Stock $verv

$verv Overview Financials Valuation SEC Filings Company Website

2023 Q1 Form 10-K Financial Statement

#000095017023005713 Filed on March 02, 2023

Income Statement

Concept	2023 Q1	2022 Q4	2022
Revenue	$1.404M	$1.012M	$1.941M
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$12.55M	$11.44M	$37.53M
YoY Change	68.84%	73.28%	98.96%
% of Gross Profit
Research & Development	$47.11M	$37.28M	$130.1M
YoY Change	92.36%	43.74%	90.75%
% of Gross Profit
Depreciation & Amortization	$1.127M	$925.0K	$2.804M
YoY Change	125.4%	95.97%	86.93%
% of Gross Profit
Operating Expenses	$59.66M	$48.72M	$167.6M
YoY Change	86.88%	49.73%	92.53%
Operating Profit	-$58.26M		-$165.7M
YoY Change	82.49%		90.3%
Interest Expense	$5.546M	$4.501M	$6.867M
YoY Change	6663.41%	6932.81%	4735.92%
% of Operating Profit
Other Income/Expense, Net	$6.284M	$2.177M	$8.353M
YoY Change	257.25%	91.13%	-125.12%
Pretax Income	-$51.98M	-$41.03M	-$157.3M
YoY Change	72.3%	30.94%	-230.78%
Income Tax	$0.00	$53.00K	$53.00K
% Of Pretax Income
Net Earnings	-$51.98M	-$41.09M	-$157.4M
YoY Change	72.3%	31.11%	30.83%
Net Earnings / Revenue	-3701.92%	-4059.78%	-8108.55%
Basic Earnings Per Share	-$0.84		-$2.91
Diluted Earnings Per Share	-$0.84	-$0.67	-$2.91
COMMON SHARES
Basic Shares Outstanding	61.83M	61.60M	54.02M
Diluted Shares Outstanding	61.79M		54.02M

Balance Sheet

Concept	2023 Q1	2022 Q4	2022
SHORT-TERM ASSETS
Cash & Short-Term Investments	$508.7M	$554.8M	$554.8M
YoY Change	57.34%	53.92%	53.92%
Cash & Equivalents	$83.75M	$115.4M	$115.4M
Short-Term Investments	$424.9M	$439.4M	$439.4M
Other Short-Term Assets	$7.696M	$7.339M	$7.339M
YoY Change	39.14%	9.77%	9.77%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$517.8M	$563.2M	$563.2M
YoY Change	57.46%	53.4%	53.4%
LONG-TERM ASSETS
Property, Plant & Equipment	$21.05M	$18.78M	$110.7M
YoY Change	89.12%	159.94%	1120.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$709.0K	$585.0K	$5.409M
YoY Change	-73.76%	-78.3%	-31.82%
Total Long-Term Assets	$116.6M	$116.1M	$116.1M
YoY Change	471.21%	582.89%	582.89%
TOTAL ASSETS
Total Short-Term Assets	$517.8M	$563.2M	$563.2M
Total Long-Term Assets	$116.6M	$116.1M	$116.1M
Total Assets	$634.4M	$679.2M	$679.2M
YoY Change	81.64%	76.82%	76.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.372M	$2.424M	$2.424M
YoY Change	38.31%	-65.75%	-65.75%
Accrued Expenses	$19.00M	$20.77M	$32.67M
YoY Change	73.75%	59.84%	118.58%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$33.55M	$35.10M	$35.10M
YoY Change	126.66%	59.35%	59.35%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$260.0K	$283.0K	$93.20M
YoY Change	-91.47%	-24.93%	1862.85%
Total Long-Term Liabilities	$260.0K	$283.0K	$93.20M
YoY Change	-91.47%	-24.93%	1862.85%
TOTAL LIABILITIES
Total Short-Term Liabilities	$33.55M	$35.10M	$35.10M
Total Long-Term Liabilities	$260.0K	$283.0K	$93.20M
Total Liabilities	$124.9M	$128.3M	$128.3M
YoY Change	599.68%	379.2%	379.2%
SHAREHOLDERS EQUITY
Retained Earnings	-$396.2M	-$344.2M
YoY Change	82.57%	84.23%
Common Stock	$905.9M	$895.9M
YoY Change	64.97%	64.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$509.5M	$550.9M	$550.9M
YoY Change
Total Liabilities & Shareholders Equity	$634.4M	$679.2M	$679.2M
YoY Change	81.64%	76.82%	76.82%

Cashflow Statement

Concept	2023 Q1	2022 Q4	2022
OPERATING ACTIVITIES
Net Income	-$51.98M	-$41.09M	-$157.4M
YoY Change	72.3%	31.11%	30.83%
Depreciation, Depletion And Amortization	$1.127M	$925.0K	$2.804M
YoY Change	125.4%	95.97%	86.93%
Cash From Operating Activities	-$49.10M	-$32.89M	-$122.3M
YoY Change	46.52%	17.29%	57.08%
INVESTING ACTIVITIES
Capital Expenditures	$3.375M	$4.968M	$13.23M
YoY Change	16.06%	-606.42%	203.56%
Acquisitions
YoY Change
Other Investing Activities	$18.77M	-$163.3M	-$142.7M
YoY Change	-70.21%	191.67%	-39.2%
Cash From Investing Activities	$15.39M	-$168.3M	-$156.0M
YoY Change	-74.39%	195.36%	-34.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$39.99M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	2.038M	39.60M	329.0M
YoY Change	303.56%	3135.13%	-12.76%
NET CHANGE
Cash From Operating Activities	-49.10M	-32.89M	-122.3M
Cash From Investing Activities	15.39M	-168.3M	-156.0M
Cash From Financing Activities	2.038M	39.60M	329.0M
Net Change In Cash	-31.67M	-161.6M	50.67M
YoY Change	-216.89%	92.84%	-15.71%
FREE CASH FLOW
Cash From Operating Activities	-$49.10M	-$32.89M	-$122.3M
Capital Expenditures	$3.375M	$4.968M	$13.23M
Free Cash Flow	-$52.47M	-$37.86M	-$135.6M
YoY Change	44.09%	39.9%	64.84%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
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CY2022	dei	Document Type DocumentType	10-K
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CY2022	dei	Document Period End Date DocumentPeriodEndDate	2022-12-31
CY2022	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022	dei	Document Transition Report DocumentTransitionReport	false
CY2022	dei	Entity File Number EntityFileNumber	001-40489
CY2022	dei	Entity Registrant Name EntityRegistrantName	VERVE THERAPEUTICS, INC.
CY2022	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2022	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	82-4800132
CY2022	dei	Entity Address Address Line1 EntityAddressAddressLine1	201 Brookline Avenue, Suite 601
CY2022	dei	Entity Address City Or Town EntityAddressCityOrTown	Boston
CY2022	dei	Entity Address State Or Province EntityAddressStateOrProvince	MA
CY2022	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	02215
CY2022	dei	City Area Code CityAreaCode	617
CY2022	dei	Local Phone Number LocalPhoneNumber	603-0070
CY2022	dei	Security12b Title Security12bTitle	Common stock, par value $0.001 per share
CY2022	dei	Trading Symbol TradingSymbol	VERV
CY2022	dei	Security Exchange Name SecurityExchangeName	NASDAQ
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CY2021	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	780000
CY2021	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-236000
CY2021	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7072000
CY2021	us-gaap	Net Income Loss NetIncomeLoss	-120314000
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	357352000
CY2022	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	2175000
CY2022	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	1069000
CY2022	verv	Stock Issued During Period Value Licensor Institutions StockIssuedDuringPeriodValueLicensorInstitutions	39986000
CY2022	verv	Issuance Costs Of Common Stock From Initial Public Offering IssuanceCostsOfCommonStockFromInitialPublicOffering	15924000
CY2022	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	242826000
CY2022	verv	Issuance Of Common Stock From At The Market Offering IssuanceOfCommonStockFromAtTheMarketOffering	1722000000
CY2022	verv	Issuance Of Common Stock From At The Market Offering Net Of Issuance Costs IssuanceOfCommonStockFromAtTheMarketOfferingNetOfIssuanceCosts	42900000
CY2022	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-466000
CY2022	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	22477000
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-157387000
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	550932000
CY2022	us-gaap	Profit Loss ProfitLoss	-157387000
CY2021	us-gaap	Profit Loss ProfitLoss	-120314000
CY2020	us-gaap	Profit Loss ProfitLoss	-45704000
CY2022	us-gaap	Depreciation And Amortization DepreciationAndAmortization	2804000
CY2021	us-gaap	Depreciation And Amortization DepreciationAndAmortization	1535000
CY2020	us-gaap	Depreciation And Amortization DepreciationAndAmortization	1328000
CY2022	us-gaap	Provision For Lease Losses ProvisionForLeaseLosses	3907000
CY2021	us-gaap	Provision For Lease Losses ProvisionForLeaseLosses	1842000
CY2020	us-gaap	Provision For Lease Losses ProvisionForLeaseLosses	0
CY2022	verv	Net Amortization Of Premium Accretion Of Discount On Marketable Securities NetAmortizationOfPremiumAccretionOfDiscountOnMarketableSecurities	-1027000
CY2021	verv	Net Amortization Of Premium Accretion Of Discount On Marketable Securities NetAmortizationOfPremiumAccretionOfDiscountOnMarketableSecurities	1508000
CY2020	verv	Net Amortization Of Premium Accretion Of Discount On Marketable Securities NetAmortizationOfPremiumAccretionOfDiscountOnMarketableSecurities	380000
CY2022	us-gaap	Share Based Compensation ShareBasedCompensation	22477000
CY2021	us-gaap	Share Based Compensation ShareBasedCompensation	7072000
CY2020	us-gaap	Share Based Compensation ShareBasedCompensation	850000
CY2022	verv	Change In Fair Value Of Preferred Stock Tranche Liabilities ChangeInFairValueOfPreferredStockTrancheLiabilities	0
CY2021	verv	Change In Fair Value Of Preferred Stock Tranche Liabilities ChangeInFairValueOfPreferredStockTrancheLiabilities	-0
CY2020	verv	Change In Fair Value Of Preferred Stock Tranche Liabilities ChangeInFairValueOfPreferredStockTrancheLiabilities	2507000
CY2022	verv	Change In Fair Value Of Antidilution Rights ChangeInFairValueOfAntidilutionRights	0
CY2021	verv	Change In Fair Value Of Antidilution Rights ChangeInFairValueOfAntidilutionRights	25574000
CY2020	verv	Change In Fair Value Of Antidilution Rights ChangeInFairValueOfAntidilutionRights	5359000
CY2022	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	2175000
CY2021	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	966000
CY2020	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	11000
CY2022	verv	Change In Fair Value Of Success Payments Liabilities ChangeInFairValueOfSuccessPaymentsLiabilities	-1486000
CY2021	verv	Change In Fair Value Of Success Payments Liabilities ChangeInFairValueOfSuccessPaymentsLiabilities	7815000
CY2020	verv	Change In Fair Value Of Success Payments Liabilities ChangeInFairValueOfSuccessPaymentsLiabilities	2387000
CY2022	us-gaap	Increase Decrease In Accounts Receivable Related Parties IncreaseDecreaseInAccountsReceivableRelatedParties	1012000
CY2021	us-gaap	Increase Decrease In Accounts Receivable Related Parties IncreaseDecreaseInAccountsReceivableRelatedParties	0
CY2020	us-gaap	Increase Decrease In Accounts Receivable Related Parties IncreaseDecreaseInAccountsReceivableRelatedParties	0
CY2022	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	9436000
CY2021	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	7528000
CY2020	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	1582000
CY2022	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-5216000
CY2021	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	6829000
CY2020	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-1898000
CY2022	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	7041000
CY2021	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	5977000
CY2020	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	6071000
CY2022	verv	Success Of Payment Liability SuccessOfPaymentLiability	0
CY2021	verv	Success Of Payment Liability SuccessOfPaymentLiability	6250000
CY2020	verv	Success Of Payment Liability SuccessOfPaymentLiability	0
CY2022	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	20014000
CY2021	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	0
CY2020	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	0
CY2022	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-3011000
CY2021	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-1940000
CY2020	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	0
CY2022	us-gaap	Increase Decrease In Other Deferred Liability IncreaseDecreaseInOtherDeferredLiability	0
CY2021	us-gaap	Increase Decrease In Other Deferred Liability IncreaseDecreaseInOtherDeferredLiability	0
CY2020	us-gaap	Increase Decrease In Other Deferred Liability IncreaseDecreaseInOtherDeferredLiability	51000
CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-122332000
CY2021	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-77880000
CY2020	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-35265000
CY2022	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	13232000
CY2021	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	4359000
CY2020	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	3424000
CY2022	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	479401000
CY2021	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	371494000
CY2020	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	98484000
CY2022	verv	Maturities Of Marketable Securities MaturitiesOfMarketableSecurities	336678000
CY2021	verv	Maturities Of Marketable Securities MaturitiesOfMarketableSecurities	136755000
CY2020	verv	Maturities Of Marketable Securities MaturitiesOfMarketableSecurities	50781000
CY2022	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-155955000
CY2021	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-239098000
CY2020	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-51127000
CY2022	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	0
CY2021	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	93759000
CY2020	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	92616000
CY2022	verv	Proceeds From Issuance Of Common Shares Net Of Commissions ProceedsFromIssuanceOfCommonSharesNetOfCommissions	286509000
CY2022	us-gaap	Employee Stock Ownership Plan Esop Cash Contributions To Esop EmployeeStockOwnershipPlanESOPCashContributionsToESOP	1069000
CY2021	us-gaap	Employee Stock Ownership Plan Esop Cash Contributions To Esop EmployeeStockOwnershipPlanESOPCashContributionsToESOP	780000
CY2021	verv	Proceeds From Issuance Of Common Shares Net Of Commissions ProceedsFromIssuanceOfCommonSharesNetOfCommissions	285214000
CY2020	verv	Proceeds From Issuance Of Common Shares Net Of Commissions ProceedsFromIssuanceOfCommonSharesNetOfCommissions	0
CY2022	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	39986000
CY2022	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts	783000
CY2020	us-gaap	Employee Stock Ownership Plan Esop Cash Contributions To Esop EmployeeStockOwnershipPlanESOPCashContributionsToESOP	0
CY2022	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	328956000
CY2021	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	377089000
CY2020	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	92627000
CY2022	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	50669000
CY2021	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	60111000
CY2020	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	6235000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	69567000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	9456000
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3221000
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	120236000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	69567000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	9456000
CY2022	verv	Property And Equipment Additions Included In Accounts Payable And Accrued Expenses PropertyAndEquipmentAdditionsIncludedInAccountsPayableAndAccruedExpenses	1706000
CY2021	verv	Property And Equipment Additions Included In Accounts Payable And Accrued Expenses PropertyAndEquipmentAdditionsIncludedInAccountsPayableAndAccruedExpenses	503000
CY2020	verv	Property And Equipment Additions Included In Accounts Payable And Accrued Expenses PropertyAndEquipmentAdditionsIncludedInAccountsPayableAndAccruedExpenses	86000
CY2022	verv	Settlement Of Tranche Right Lliability SettlementOfTrancheRightLliability	0
CY2021	verv	Settlement Of Tranche Right Lliability SettlementOfTrancheRightLliability	0
CY2020	verv	Settlement Of Tranche Right Lliability SettlementOfTrancheRightLliability	7064000
CY2022	verv	Temporary Equity Conversion Of Convertible Preferred Stock To Common Stock Upon Closing Of Initial Public Offering TemporaryEquityConversionOfConvertiblePreferredStockToCommonStockUponClosingOfInitialPublicOffering	0
CY2021	verv	Temporary Equity Conversion Of Convertible Preferred Stock To Common Stock Upon Closing Of Initial Public Offering TemporaryEquityConversionOfConvertiblePreferredStockToCommonStockUponClosingOfInitialPublicOffering	218919000
CY2020	verv	Temporary Equity Conversion Of Convertible Preferred Stock To Common Stock Upon Closing Of Initial Public Offering TemporaryEquityConversionOfConvertiblePreferredStockToCommonStockUponClosingOfInitialPublicOffering	0
CY2022	verv	Settlement Of Antidilution Rights Liability By Issuing Common Stock SettlementOfAntidilutionRightsLiabilityByIssuingCommonStock	0
CY2021	verv	Settlement Of Antidilution Rights Liability By Issuing Common Stock SettlementOfAntidilutionRightsLiabilityByIssuingCommonStock	32490000
CY2020	verv	Settlement Of Antidilution Rights Liability By Issuing Common Stock SettlementOfAntidilutionRightsLiabilityByIssuingCommonStock	487000
CY2022	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	83417000
CY2021	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	809000
CY2020	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	0
CY2022	us-gaap	Nature Of Operations NatureOfOperations	<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);text-transform:uppercase;color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">1. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Nature of the business and basis of presentation</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;">Organization</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Verve Therapeutics, Inc. (the “Company” or “Verve”) is a clinical-stage genetic medicines company pioneering a new approach to the care of cardiovascular disease, transforming treatment from chronic management to single-course gene editing medicines. The Company was incorporated on March 9, 2018 as Endcadia, Inc., a Delaware corporation, and began operations shortly thereafter. In January 2019, the Company amended its certificate of incorporation to change its name to Verve Therapeutics, Inc. The Company’s principal offices are located in Boston, Massachusetts.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;">Liquidity and capital resources</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Since its inception, the Company has devoted its efforts principally to research and development and raising capital. The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry including, but not limited to, technical risks associated with the successful research, development and manufacturing of product candidates, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Current and future programs will require significant research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. The Company expects that its cash, cash equivalents and marketable securities of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:"Arial", sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">554.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> as of December 31, 2022, will be sufficient to fund its operations and capital expenditure requirements beyond the next 12 months from the date of issuance of these financial statements. The Company will need additional financing to support its continuing operations and pursue its growth strategy. Until such time as the Company can generate significant revenue from product sales, if ever, it expects to finance its operations through a combination of equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. The Company may be unable to raise additional funds or enter into such other agreements when needed on favorable terms or at all. The inability to raise capital as and when needed could have a negative impact on the Company’s financial condition and its ability to pursue its business strategy. The Company will need to generate significant revenue to achieve profitability, and it may never do so.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;">Basis of presentation</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”).</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p>
CY2022Q4	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	554800000
CY2022	us-gaap	Use Of Estimates UseOfEstimates	<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses, and the disclosure of contingent assets and liabilities as of and during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">circumstances. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the fair values of common stock (prior to completion of the Company's initial public offering ("IPO")), stock-based compensation, and the liabilities for antidilution rights and success payments. Actual results could differ from these estimates.</span>
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	115412000
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	64330000
CY2022Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	4824000
CY2021Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	5237000
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	120236000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	69567000
CY2022	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;">Concentrations of credit risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash, cash equivalents, marketable securities, and restricted cash. Periodically, the Company may maintain deposits in financial institutions in excess of government insured limits. Management believes that the Company is not exposed to significant credit risk as the Company’s deposits are held at financial institutions that management believes to be of high credit quality, and the Company has not experienced any losses on these deposits.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Company generally invests its excess capital in money market funds, U.S. treasury bills and agency securities, all of which are subject to minimal credit and market risk. The investment portfolio is maintained in</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">accordance </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">with the Company’s investment policy, which defines allowable investments, specifies credit quality standards and limits the credit exposure of any single issuer.</span></p>
CY2020	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
CY2021	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
CY2022	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	0
CY2022	us-gaap	Revenue Recognition Deferred Revenue RevenueRecognitionDeferredRevenue	<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Arial", sans-serif;font-style:italic;min-width:fit-content;">Revenue Recognition</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The Company enters into collaboration agreements which are within the scope of ASC Topic 606, "Revenue from Contracts with Customers" (“ASC 606”), under which the Company licenses rights to certain of the Company’s product candidates and performs research and development services. The terms of these arrangements typically include payment of one or more of the following: non-refundable, upfront fees; reimbursement of research and development costs; development, regulatory, and commercial milestone payments; and royalties on net sales of licensed products.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine the appropriate amount of revenue to be recognized for arrangements determined to be within the scope of ASC 606, the Company performs the following five steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Company only applies the five-step model to contracts when it is probable that the entity will collect consideration it is entitled to in exchange for the goods or services it transfers to the customer.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The promised goods or services in the Company’s arrangements typically consist of license rights to the Company’s intellectual property and research and development services. The Company provides options to additional items in the contracts, which are accounted for as separate contracts when the customer elects to exercise such options, unless the option provides a material right to the customer. The Company evaluates the customer options for material rights, or options to acquire additional goods or services for free or at a discount. If the customer options are determined to represent a material right, the material right is recognized as a separate performance obligation at the outset of the arrangement. Performance obligations are promised goods or services in a contract to transfer a distinct good or service to the customer and are considered distinct when (i) the customer can benefit from the good or service on its own or together with other readily available resources and (ii) the promised good or service is separately identifiable from other promises in the contract. In assessing whether promised goods or services are distinct, the Company considers factors such as the stage of development of the underlying intellectual property, the capabilities of the customer to develop the intellectual property on its own or whether the required expertise is readily available and whether the goods or services are integral or dependent to other goods or services in the contract.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The Company estimates the transaction price based on the amount expected to be received for transferring the promised goods or services in the contract. The consideration may include fixed consideration or variable consideration. At the inception of each arrangement that includes variable consideration, the Company evaluates the number of potential payments and the likelihood that the payments will be received. The Company utilizes either the most likely amount method or expected amount method to estimate the amount expected to be received based on which method best predicts the amount expected to be received. The amount of variable consideration which is included in the transaction price may be constrained and is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The Company’s contracts often include development and regulatory milestone payments which are assessed under the most likely amount method and constrained if it is probable that a significant revenue reversal would occur. Milestone payments that are not within the Company’s control or the licensee’s control, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. At the end of each reporting period, the Company re-evaluates the probability of achievement of such development milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect collaboration revenues in the period of adjustment. To date, the Company has not recognized any consideration related to the achievement of development, regulatory, or commercial milestone revenue resulting from any of the Company’s collaboration arrangements.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). To date, the Company has not recognized any consideration related to sales-based royalty revenue resulting from any of the Company’s collaboration arrangements.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The Company allocates the transaction price based on the estimated stand-alone selling price of each of the performance obligations. The Company must develop assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract. The Company utilizes key assumptions to determine the stand-alone selling price for service obligations, which may include other comparable transactions, pricing considered in negotiating the transaction and the estimated costs. Additionally, in determining the standalone selling price for material rights, the Company utilizes comparable transactions, clinical trial success probabilities, and estimates of option exercise likelihood. Variable consideration is allocated specifically to one or more performance obligations in a contract when the terms of the variable consideration relate to the satisfaction of the performance obligation and the resulting amounts allocated are consistent with the amounts the Company would expect to receive for the satisfaction of each performance obligation.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">The consideration allocated to each performance obligation is recognized as revenue when control is transferred for the related goods or services. For performance obligations which consist of licenses and other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">method of measuring progress. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">Upfront payments and fees are recorded as deferred revenue upon receipt or when due until the Company performs its obligations under these arrangements. Amounts are recorded as accounts receivable when the Company’s right to </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Arial", sans-serif;min-width:fit-content;">consideration is unconditional.</span></p>
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	16.10
CY2022	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P8Y3M18D
CY2022Q4	verv	Percentage Of Tax Benefit Realized PercentageOfTaxBenefitRealized	0.50
CY2022	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1
CY2022Q4	us-gaap	Debt Securities Available For Sale Amortized Cost Current DebtSecuritiesAvailableForSaleAmortizedCostCurrent	440090000
CY2022Q4	verv	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax Current AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTaxCurrent	81000
CY2022Q4	verv	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax Current AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxCurrent	-775000
CY2022Q4	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	439396000
CY2021Q4	us-gaap	Debt Securities Available For Sale Amortized Cost Current DebtSecuritiesAvailableForSaleAmortizedCostCurrent	296340000
CY2021Q4	verv	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax Current AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTaxCurrent	0
CY2021Q4	verv	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax Current AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTaxCurrent	-228000
CY2021Q4	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	296112000
CY2022	us-gaap	Marketable Securities Unrealized Gain Loss MarketableSecuritiesUnrealizedGainLoss	800000
CY2021	us-gaap	Marketable Securities Unrealized Gain Loss MarketableSecuritiesUnrealizedGainLoss	200000
CY2022	verv	Remaining Contractual Maturities Of Marketable Securities Term RemainingContractualMaturitiesOfMarketableSecuritiesTerm	P12M
CY2021	verv	Remaining Contractual Maturities Of Marketable Securities Term RemainingContractualMaturitiesOfMarketableSecuritiesTerm	P12M
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	23765000
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	9557000
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	4987000
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2333000
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	18778000
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	7224000
CY2022	us-gaap	Depreciation Depreciation	2804000
CY2021	us-gaap	Depreciation Depreciation	1535000
CY2020	us-gaap	Depreciation Depreciation	1328000
CY2022Q4	us-gaap	Assets Fair Value Disclosure AssetsFairValueDisclosure	544699000
CY2022Q4	us-gaap	Financial Liabilities Fair Value Disclosure FinancialLiabilitiesFairValueDisclosure	2885000
CY2021Q4	us-gaap	Assets Fair Value Disclosure AssetsFairValueDisclosure	354239000
CY2021Q4	us-gaap	Financial Liabilities Fair Value Disclosure FinancialLiabilitiesFairValueDisclosure	4371000
CY2022Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	105300000
CY2021Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	58100000
CY2021Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	878098
CY2022Q4	verv	Fair Value Of Common Stock Per Share FairValueOfCommonStockPerShare	19.35
CY2021Q4	verv	Fair Value Of Common Stock Per Share FairValueOfCommonStockPerShare	36.87
CY2020Q4	verv	Fair Value Of Common Stock Per Share FairValueOfCommonStockPerShare	8.24
CY2020	verv	Cumulative Probability Of Triggering Event CumulativeProbabilityOfTriggeringEvent	0.70
CY2020Q4	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs	9722000
CY2021	us-gaap	Temporary Equity Stock Issued During Period Value New Issues TemporaryEquityStockIssuedDuringPeriodValueNewIssues	32490000
CY2021	verv	Common Stock Issued During Period Value New Issues CommonStockIssuedDuringPeriodValueNewIssues	-6250000
CY2021	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings	33389000
CY2021Q4	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs	4371000
CY2022	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings	1486000
CY2022Q4	us-gaap	Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs	2885000
CY2022Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding	63790000
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	2551841
CY2021	us-gaap	Short Term Lease Cost ShortTermLeaseCost	2278000
CY2022	us-gaap	Lease Cost LeaseCost	8245000
CY2021	us-gaap	Lease Cost LeaseCost	4948000
CY2022Q4	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	9124000
CY2021Q4	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	6050000
CY2022Q4	verv	Accrued External Research And Development Expenses AccruedExternalResearchAndDevelopmentExpenses	8919000
CY2021Q4	verv	Accrued External Research And Development Expenses AccruedExternalResearchAndDevelopmentExpenses	5041000
CY2022Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	1193000
CY2021Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	1109000
CY2022Q4	verv	License And Milestone Payments LicenseAndMilestonePayments	310000
CY2022Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1221000
CY2021Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	792000
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	20767000
CY2021Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	12992000
CY2022	us-gaap	Operating Lease Cost OperatingLeaseCost	5946000
CY2021	us-gaap	Operating Lease Cost OperatingLeaseCost	1923000
CY2022	us-gaap	Variable Lease Cost VariableLeaseCost	1601000
CY2021	us-gaap	Variable Lease Cost VariableLeaseCost	747000
CY2022	us-gaap	Short Term Lease Cost ShortTermLeaseCost	698000
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice	7.52
CY2022	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P7Y7M6D
CY2022Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	34295000
CY2022	us-gaap	Operating Lease Payments OperatingLeasePayments	5050000
CY2021	us-gaap	Operating Lease Payments OperatingLeasePayments	2021000
CY2022Q4	verv	Lessee Operating Lease Incremental Borrowing Rate LesseeOperatingLeaseIncrementalBorrowingRate	0.0789
CY2022Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P10Y
CY2022Q3	verv	Increase Decrease In Operating Lease Right Of Use Of Asset IncreaseDecreaseInOperatingLeaseRightOfUseOfAsset	91800000
CY2022Q3	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	80800000
CY2021Q4	verv	Lease Commencement Date LeaseCommencementDate	2021-12
CY2021Q4	verv	Lease Noncancelable Term LeaseNoncancelableTerm	P12M
CY2021Q4	us-gaap	Lessee Operating Lease Option To Extend LesseeOperatingLeaseOptionToExtend	The Company had the option to extend the sublease for one extension term of three months by written notice not less than six months prior to the expiration of the sublease term. The Company did not exercise this option.
CY2022Q4	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	12306000
CY2022Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	10563000
CY2022Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	10868000
CY2022Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	11183000
CY2022Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	11506000
CY2022Q4	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	62736000
CY2022Q4	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	119162000
CY2022Q4	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	37245000
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	81917000
CY2022Q3	us-gaap	Payments To Acquire Commercial Real Estate PaymentsToAcquireCommercialRealEstate	165000000
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	6119295
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	9.44
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	2561300
CY2022	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	28.49
CY2022	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	743638
CY2022	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	2.92
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$VERV
Verve Therapeutics, Inc. Stock $verv

2023 Q1 Form 10-K Financial Statement

#000095017023005713 Filed on March 02, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VERV Verve Therapeutics, Inc. Stock $verv

2023 Q1 Form 10-K Financial Statement

#000095017023005713 Filed on March 02, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VERV
Verve Therapeutics, Inc. Stock $verv