Atea

May 13, 2021

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Mar 31, 2021

Atea Q1 2021 Earnings Report

Atea Pharmaceuticals reported financial results for the first quarter of 2021 and provided a corporate update.

Key Takeaways

Atea Pharmaceuticals reported a net income of $30.7 million for the quarter ended March 31, 2021, compared to a net loss of $4.0 million for the quarter ended March 31, 2020. The increase in net income was primarily due to the recognition of collaboration revenue related to the Roche License Agreement in the amount of $66.0 million.

Global Phase 3 MORNINGSKY trial of AT-527 in the outpatient setting was recently initiated for the treatment of COVID-19.

Enrollment is advancing in Phase 1a trial of AT-752, a drug candidate being developed for the treatment of dengue fever.

Collaboration revenue for the quarter ended March 31, 2021 was $66.0 million, derived from the Roche License Agreement.

Atea initiated a Phase 1a study evaluating the safety, tolerability, and pharmacokinetics of AT-752.