Atea Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 12, 2021 at 07:01 am EST
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Atea Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported net loss was USD 28.19 million compared to USD 17.62 million a year ago. Basic loss per share from continuing operations was USD 0.34 compared to USD 1.74 a year ago. Diluted loss per share from continuing operations was USD 0.34 compared to USD 1.74 a year ago.
For the nine months, net income was USD 4.06 million compared to net loss of USD 31.6 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to basic loss per share from continuing operations of USD 3.13 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to diluted loss per share from continuing operations of USD 3.13 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. 
