Atea Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 07, 2022 at 05:03 pm EST
Share
Atea Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 8.07 million compared to USD 28.19 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.34 a year ago. Diluted loss per share from continuing operations was USD 0.1 compared to USD 0.34 a year ago.
For the nine months, net loss was USD 81.48 million compared to net income of USD 4.06 million a year ago. Basic loss per share from continuing operations was USD 0.98 compared to basic earnings per share from continuing operations of USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.98 compared to diluted earnings per share from continuing operations of USD 0.05 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.