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Jun 30, 2021
Atea Q2 2021 Earnings Report
Atea Pharmaceuticals reported financial results and provided a clinical and corporate update.
Key Takeaways
Atea Pharmaceuticals reported a net income of $1.5 million for the second quarter of 2021, a significant increase compared to the net loss of $10.0 million in the same quarter of the previous year. The company's collaboration revenue reached $60.4 million due to the Roche License Agreement, and there was progress in the clinical development of AT-527 for COVID-19 treatment.
AT-527 achieved target antiviral levels in the lungs of healthy volunteers, indicating its potential for treating COVID-19.
Phase 2 study interim results showed AT-527's potent and rapid antiviral activity in hospitalized patients, leading to protocol amendments.
Patient accrual is ongoing in the global Phase 3 MEADOWSPRING follow-on study to evaluate AT-527 in Long COVID.
Global Phase 2 MOONSONG and Phase 3 MORNINGSKY results are expected in the second half of 2021.
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