Atea Pharmaceuticals Reports 2020 Financial Results

Atea Pharmaceuticals, a clinical-stage biopharmaceutical company, reported financial results for 2020.  Jean-Pierre Sommadossi, Ph.D., Chief Executive Officer and Founder of Atea Pharmaceuticals said that it was a transformational year that placed our direct-acting antiviral platform at the forefront of the fight against COVID-19. The company acted quickly to advance our lead product candidate AT-527 in response to the global pandemic. It also signed a strategic partnership agreement with Roche, effected a significant crossover financing, and became a publicly-traded company.

He also added that with the partnership of Roche, the company obtained global capabilities in antiviral development and commercialization. The company is working to accelerate the late-stage development of AT-527. In the global phase 3 program, the company is closer to achieve the goal of providing an easily administered and widely generalizable, oral, direct-acting antiviral to assist in the fight against coronavirus.

Atea Pharmaceuticals is looking ahead, during the second quarter of 2021, in addition to starting the Phase 3 clinical trial of AT-527 for the treatment of outpatients with mild or moderate COVID-19. They also expect to report interim virology data from two ongoing Phase 2 trials of AT-527. The company has made significant progress in understanding AT-527’s mechanism of action.

In the Phase 2 trial, the hospitalized setting is a randomized, double-blind, placebo-controlled, multi-center, global trial of AT-527, which is expected to enroll approximately 190 patients with moderate COVID-19. The primary efficacy endpoint of this trial is the change in the level of respiratory insufficiency. Other important outcomes to be assessed are the effect of AT-527 versus placebo on the viral kinetics of the infection and the elucidation of the safety and tolerability of AT-527 at the dose of 550 mg administered twice daily.