earnings
confidence high
sentiment positive
materiality 0.70
Atea reports Q2 net income $1.5M; AT-527 lung data positive, Phase 3 data due 2H21
Atea Pharmaceuticals, Inc.
2021-Q2 EPS reported
$0.36
revenue$126,376,000
- Net income $1.5M vs net loss $10.0M YoY; collaboration revenue $60.4M from Roche.
- Cash $816.5M at June 30; $50M Roche milestone payment received in July 2021.
- AT-527 active metabolite achieved target antiviral levels in lung lining fluid in healthy volunteers.
- Phase 2 interim showed 0.7 log10 greater viral load reduction vs placebo at Day 2.
- Phase 3 MORNINGSKY and Phase 2 MOONSONG top-line results expected in 2H 2021.