earnings
confidence high
sentiment neutral
materiality 0.80
Atea Q1 net loss $42.1M; bemnifosbuvir misses primary endpoint but shows 71% hospitalization reduction
Atea Pharmaceuticals, Inc.
2022-Q1 EPS reported
-$0.51
- Net loss of $42.1M ($0.51 per diluted share) vs net income of $30.7M in Q1 2021; revenue $0 vs $65.985M due to Roche termination.
- Cash and equivalents $705.5M at March 31, 2022, down from $764.4M at Dec 31, 2021; $25M paid to Merck for ruzasvir license.
- Bemnifosbuvir MORNINGSKY trial: primary endpoint (time to symptom alleviation) not met; 71% reduction in hospitalization (2.9% vs 10%, p=0.047, exploratory).
- Phase 2 hospitalized COVID-19 study: 7.5% PRI on bemnifosbuvir vs 10% placebo; 0 deaths vs 3 deaths in placebo.
- Initiated Phase 2 DEFEND-2 and human challenge trial for AT-752 in dengue; results expected 4Q22 and late 2022.