Atea Pharmaceuticals (NASDAQ:AVIR) Announces Earnings Results

Atea Pharmaceuticals (NASDAQ:AVIR) announced its quarterly earnings data on Monday. The company reported ($0.40) earnings per share (EPS) for the quarter, beating 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%

Shares of AVIR stock traded up $0.10 on Monday, reaching $4.41. The company had a trading volume of 244,168 shares, compared to its average volume of 383,186. The stock has a market cap of $353.70 million, a PE ratio of -2.12 and a beta of 0.76. The company has a 50-day moving average of $4.92 and a 200-day moving average of $4.93. Atea Pharmaceuticals has a 12 month low of $2.87 and a 12 month high of $6.45.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVIR. Morgan Stanley upped their target price on shares of Atea Pharmaceuticals from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded Atea Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Atea Pharmaceuticals in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.