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Jun 30, 2024
Atea Q2 2024 Earnings Report
Atea Pharmaceuticals reported financial results for the second quarter ended June 30, 2024, and provided a business update.
Key Takeaways
Atea Pharmaceuticals reported its second quarter 2024 financial results, highlighting the completion of patient enrollment in the global Phase 3 SUNRISE-3 study of bemnifosbuvir for COVID-19 and the global Phase 2 study evaluating the combination of bemnifosbuvir and ruzasvir in HCV-infected patients. The company's cash, cash equivalents, and marketable securities totaled $502.2 million as of June 30, 2024. Research and development expenses increased due to the advancement of both clinical trials.
Patient enrollment was completed in the global Phase 3 SUNRISE-3 study of bemnifosbuvir for COVID-19.
Patient enrollment was completed in the global Phase 2 study evaluating the combination of bemnifosbuvir and ruzasvir in treatment-naïve, HCV-infected patients.
Data presented at EASL supported the potential of bemnifosbuvir and ruzasvir as a best-in-class HCV treatment with high antiviral potency and a low risk of drug interaction.
Topline results from the COVID-19 global Phase 3 SUNRISE-3 trial are expected in the second half of 2024.
Forward Guidance
Atea Pharmaceuticals is looking forward to reporting results from both studies this year.
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