Atea Pharmaceuticals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 08, 2022 at 04:32 pm EDT
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Atea Pharmaceuticals, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 31.34 million compared to net income of USD 1.54 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.38 compared to diluted earnings per share from continuing operations of USD 0.02 a year ago.
For the six months, net loss was USD 73.41 million compared to net income of USD 32.25 million a year ago. Basic loss per share from continuing operations was USD 0.88 compared to basic earnings per share from continuing operations of USD 0.39 a year ago. Diluted loss per share from continuing operations was USD 0.88 compared to diluted earnings per share from continuing operations of USD 0.36 a year ago.
Atea Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on discovering, developing, and commercializing antiviral therapeutics to improve the lives of patients suffering from serious viral infections. The Company is engaged in is conducting a Phase 3 clinical trial evaluating bemnifosbuvir for the treatment of Coronavirus disease 2019 (COVID-19). It is also conducting a Phase 2 clinical trial evaluating the combination of bemnifosbuvir and ruzasvir for the treatment of hepatitis C virus (HCV). The bemnifosbuvir (AT-527), is an investigational, novel, orally administered guanosine nucleotide analog polymerase inhibitor that combines a unique nucleotide scaffold with novel double prodrugs for the intended purpose of inhibiting the enzymes central to viral replication. SUNRISE-3 is designed to evaluate bemnifosbuvir as monotherapy, but it is also exploring the effect of combination therapy in a smaller sub-set of patients.
ATEA PHARMACEUTICALS, INC. 
