Atea reports Q2 net loss $40.5M; Phase 2 HCV data show 97% SVR12; Phase 3 COVID-19 trial due 2H24

Atea Pharmaceuticals, Inc.

2024-Q2 EPS reported -$1.23

Net loss of $40.5M for Q2 2024 (diluted EPS -$0.48) vs $28.2M loss in Q2 2023; cash balance $502.2M.
R&D expenses rose to $34.7M (+$12.6M YoY) driven by Phase 2/3 trial costs.
Full enrollment in global Phase 2 HCV study (bemnifosbuvir + ruzasvir); SVR12 results expected 4Q 2024.
Lead-in cohort (n=60) at EASL achieved 97% SVR12 with 8-week treatment; no drug-related serious AEs.
Phase 3 SUNRISE-3 (bemnifosbuvir for COVID-19) topline data anticipated in 2H 2024.

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