Atea

Nov 08, 2023

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Sep 30, 2023

Atea Q3 2023 Earnings Report

Atea Pharmaceuticals reported financial results for the third quarter ended September 30, 2023, and provided a business update.

Key Takeaways

Atea Pharmaceuticals reported its Q3 2023 financial results, highlighting the ongoing Phase 3 SUNRISE-3 trial for COVID-19 and the Phase 2 trial for hepatitis C (HCV). Patient enrollment continues in the SUNRISE-3 trial, with the first interim analysis expected in Q1 2024. The Phase 2 HCV trial has completed enrollment of the 60-patient lead-in cohort, and initial results are expected in early 2024. The company's cash, cash equivalents, and marketable securities totaled $595.1 million as of September 30, 2023.

Patient enrollment continues in the global Phase 3 SUNRISE-3 trial evaluating bemnifosbuvir for COVID-19, with the first interim analysis expected in Q1 2024.

The Phase 2 trial of bemnifosbuvir and ruzasvir combination for hepatitis C (HCV) has advanced, and initial results from the 60-patient lead-in cohort are expected in Q1 2024.

Atea is engaged in efforts directed to the identification of second-generation protease inhibitors that have clinical profiles well suited for combination with bemnifosbuvir for the treatment of COVID-19.

Cash, cash equivalents, and marketable securities totaled $595.1 million as of September 30, 2023.