• Brett Schafer

Deep Dive: Maxx Chatsko Discusses Verve Therapeutics



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Show Notes


We had Maxx from 7investing back on the show to discuss Verve Therapeutics, a company trying to build gene-editing medicine for cardiovascular disease. Here are the questions/topics we asked him about:


  1. How Did you find Verve?

  2. What is Verve Therapeutics? What problem are they trying to solve, and in what way?

  3. Why does single-course gene editing have so much potential? How does it work? Differences from base editing?

  4. What are the advantages/disadvantages of base editing?

  5. What are the unit economics of a biotech business like this at maturity? Who are suppliers/customers? What type of margins can it have?

  6. Verve has ~$400 mil in cash to invest. How much of a runway does that give them? How much do you think they’ll need to spend before generating profits?

  7. Management

  8. What kind of regulatory risks/hurdles does Verve need to pass to get to revenue? How much of a risk is there to the public not trusting the technology?

  9. Who are their competitors? How do the technologies differ between gene and base editing?

  10. Are there any other drug/tech lines they could get into after cardiovascular drugs? Their goal in the S-1 is to “Develop manufacturing capabilities to produce in vivo gene editing medicines at scale.” What does that mean?

  11. How do you think about valuing Verve stock with a market cap of $2.4 billion?

  12. What’s the biggest risk in Verve as an investment?


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Disclosure: The author and podcast guests are not your financial advisors. Ryan Henderson and Brett Schafer are general partners and portfolio managers at Arch Capital. Clients of Arch Capital may hold securities discussed on this show.

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