Atea Pharmaceuticals (NASDAQ:AVIR) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Key Points

• Atea reported quarterly EPS of a $0.40 loss, beating analysts’ expected $0.51 loss by $0.11.
• Its phase III C-BEYOND trial met its primary and secondary endpoints: the treatment achieved a 94% sustained virologic response rate versus 95% for standard care, meeting the non-inferiority margin.
• Atea expects top-line results from its C-FORWARD trial in early 2027, with a potential NDA submission targeted for mid-2027 if results are positive. The company says cash, securities, and its new credit facility are expected to fund operations into mid-2028.

Atea Pharmaceuticals (NASDAQ:AVIR - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.11, FiscalAI reports.

Here are the key takeaways from Atea Pharmaceuticals' conference call:

• Atea reported that its phase III C-BEYOND trial met its primary and secondary endpoints: bemnifosbuvir/ruzasvir achieved a 94% SVR rate versus 95% for standard-of-care SOF/VEL, meeting the prespecified non-inferiority margin. The company highlighted the eight-week course for non-cirrhotic patients and said adverse events were comparable between treatment arms.
• The next major HCV milestone is top-line data from the global C-FORWARD trial, expected in early 2027; if results are positive, Atea is targeting an NDA submission in mid-2027. The filing timeline therefore remains contingent on the upcoming readout.
• Atea ended September with $191.2 million in cash and marketable securities and closed a Hercules Capital facility with a $65 million initial draw and up to $135 million in additional funding, subject to conditions. Management expects current resources and the initial draw to fund operations into mid-2028 and said the facility could support commercialization without equity financing.
• Commercial preparation is underway, but Atea said it has not yet begun payer discussions because the product is not approved; it is currently assessing coverage and formulary dynamics. The company also said a pending HCV elimination bill is unlikely to be an early priority in the new Congress and would need to be reintroduced.

Atea Pharmaceuticals Trading Up 2.3%

Atea Pharmaceuticals stock traded up $0.10 during mid-day trading on Monday, hitting $4.41. The stock had a trading volume of 244,168 shares, compared to its average volume of 383,186. The stock has a 50-day simple moving average of $4.92 and a two-hundred day simple moving average of $4.93. The stock has a market capitalization of $353.70 million, a PE ratio of -2.12 and a beta of 0.76. Atea Pharmaceuticals has a 12 month low of $2.87 and a 12 month high of $6.45.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Atea Pharmaceuticals in a research report on Thursday, October 15th. Wall Street Zen raised shares of Atea Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. Finally, Morgan Stanley boosted their price objective on shares of Atea Pharmaceuticals from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.00.

Atea Pharmaceuticals Company Profile

Atea Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing oral antiviral therapies for serious infectious diseases. The company's research platform is based on nucleotide and nucleoside prodrug technologies designed to target viral replication.

Atea's lead product candidate is bemnifosbuvir, formerly known as AT-527, an orally administered antiviral that has been evaluated for the treatment of COVID-19. The company has also investigated bemnifosbuvir and related antiviral approaches for other viral infections, including hepatitis C.

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