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Sep 30, 2022
Atea Q3 2022 Earnings Report
Atea Pharmaceuticals reported financial results for Q3 2022 and provided a business update.
Key Takeaways
Atea Pharmaceuticals reported on their progress in advancing clinical candidates, with expectations of pivotal developments in 2023. They anticipate imminent enrollment into the SUNRISE-3 trial for COVID-19, completion of enrollment in the AT-752 challenge study and the first cohort of DEFEND-2, and submission of clinical trial applications for a Hepatitis C study.
Enrollment of patients into SUNRISE-3 evaluating bemnifosbuvir for COVID-19 is expected imminently.
Completion of enrollment is anticipated around the end of the year for the AT-752 challenge study and the first cohort of DEFEND-2, with initial data to follow.
Clinical trial applications for the bemnifosbuvir and ruzasvir combination hepatitis C study are expected to be submitted around year-end, leading to Phase 2 initiation.
Atea continues to progress its second-generation protease inhibitor discovery program for COVID-19, focused on candidates for combination therapy with bemnifosbuvir.
Atea
Atea
Forward Guidance
Atea Pharmaceuticals anticipates several key milestones in the near future, including the start of patient enrollment for the SUNRISE-3 trial, completion of enrollment for the AT-752 challenge study and DEFEND-2 trial's first cohort, and submission of clinical trial applications for the combination study of bemnifosbuvir and ruzasvir for Hepatitis C.
Positive Outlook
- Expect imminent enrollment of patients into SUNRISE-3 evaluating bemnifosbuvir for COVID-19.
- Anticipate completing enrollment in the AT-752 challenge study around the end of the year.
- Expect to complete enrollment in the first cohort of DEFEND-2 around the end of the year.
- Initial data from AT-752 challenge study and DEFEND-2 trial's first cohort is expected to follow completion of enrollment.
- Expect to submit clinical trial applications for the bemnifosbuvir and ruzasvir combination hepatitis C study around the end of the year, leading to Phase 2 initiation.
Challenges Ahead
- Uncertainty around and costs associated with the clinical development of bemnifosbuvir as a potential treatment for COVID-19.
- Uncertainty around and costs associated with the clinical development of bemnifosbuvir as a potential treatment for HCV.
- Uncertainty around and costs associated with the clinical development of AT-752 for dengue.
- Risks and uncertainties that may cause actual results to differ from forward-looking statements.
- Factors discussed under the caption “Risk Factors” in the Annual Report on Form 10-K could cause actual results to differ materially.