Atea Pharmaceuticals Reports Second Quarter 2025 Financial Results and Provides Business Update
Atea Pharmaceuticals (Nasdaq: AVIR) reported Q2 2025 financial results and provided updates on its HCV treatment program. The company's Phase 3 trials (C-BEYOND and C-FORWARD) are advancing for its bemnifosbuvir/ruzasvir combination therapy, with enrollment on track in both studies. The Phase 2 study showed promising results with a 98% sustained virologic response at 12 weeks post-treatment.
Financial highlights include cash position of $379.7 million as of June 30, 2025, compared to $454.7 million at end of 2024. The company reported a net loss of $37.2 million for Q2 2025. Atea has repurchased 4.6 million shares at an average price of $3.01 per share under its $25 million buyback program and is exploring strategic alternatives with Evercore.
The company presented four scientific posters at EASL 2025, demonstrating the potential best-in-class profile of its HCV regimen with advantages including short treatment duration, low drug-drug interaction risk, and no food effect requirements.
Atea Pharmaceuticals (Nasdaq: AVIR) ha comunicato i risultati finanziari del secondo trimestre 2025 e aggiornamenti sul suo programma di trattamento per l'HCV. I trial di Fase 3 (C-BEYOND e C-FORWARD) per la terapia combinata bemnifosbuvir/ruzasvir stanno procedendo regolarmente, con le iscrizioni in linea con le aspettative in entrambi gli studi. Lo studio di Fase 2 ha mostrato risultati promettenti con un 98% di risposta virologica sostenuta a 12 settimane dal termine del trattamento.
I dati finanziari evidenziano una liquidità di 379,7 milioni di dollari al 30 giugno 2025, rispetto ai 454,7 milioni di fine 2024. L'azienda ha registrato una perdita netta di 37,2 milioni di dollari nel secondo trimestre 2025. Atea ha riacquistato 4,6 milioni di azioni a un prezzo medio di 3,01 dollari per azione nell'ambito del programma di buyback da 25 milioni di dollari ed è alla ricerca di alternative strategiche con Evercore.
La società ha presentato quattro poster scientifici all'EASL 2025, evidenziando il potenziale profilo best-in-class del suo regime per l'HCV, con vantaggi quali durata del trattamento ridotta, basso rischio di interazioni farmacologiche e nessun vincolo alimentare.
Atea Pharmaceuticals (Nasdaq: AVIR) informó los resultados financieros del segundo trimestre de 2025 y proporcionó actualizaciones sobre su programa de tratamiento para la HCV. Los ensayos de Fase 3 (C-BEYOND y C-FORWARD) para la terapia combinada de bemnifosbuvir/ruzasvir avanzan según lo previsto, con la inscripción en ambos estudios en línea con lo esperado. El estudio de Fase 2 mostró resultados prometedores con una respuesta virológica sostenida del 98% a las 12 semanas después del tratamiento.
Los aspectos financieros incluyen una posición de efectivo de 379,7 millones de dólares al 30 de junio de 2025, en comparación con 454,7 millones al cierre de 2024. La compañía reportó una pérdida neta de 37,2 millones de dólares en el segundo trimestre de 2025. Atea recompró 4,6 millones de acciones a un precio promedio de 3,01 dólares por acción dentro de su programa de recompra de 25 millones de dólares y está explorando alternativas estratégicas con Evercore.
La empresa presentó cuatro pósters científicos en EASL 2025, demostrando el potencial perfil best-in-class de su régimen para HCV con ventajas como duración corta del tratamiento, bajo riesgo de interacciones medicamentosas y sin requerimientos alimentarios.
Atea Pharmaceuticals (나스닥: AVIR)는 2025년 2분기 재무 결과를 발표하고 HCV 치료 프로그램에 대한 최신 정보를 제공했습니다. 회사의 3상 임상 시험(C-BEYOND 및 C-FORWARD)은 bemnifosbuvir/ruzasvir 병용 요법을 위해 순조롭게 진행 중이며, 두 연구 모두 등록이 계획대로 진행되고 있습니다. 2상 연구에서는 치료 후 12주에 98%의 지속적 바이러스 반응이라는 유망한 결과를 보였습니다.
재무 하이라이트로는 2025년 6월 30일 기준 현금 보유액 3억 7,970만 달러로, 2024년 말의 4억 5,470만 달러와 비교됩니다. 회사는 2025년 2분기에 3,720만 달러의 순손실을 보고했습니다. Atea는 2,460만 주를 주당 평균 3.01달러에 자사주 매입 프로그램(2,500만 달러 규모) 하에 재매입했으며, Evercore와 전략적 대안을 모색 중입니다.
회사는 EASL 2025에서 4개의 과학 포스터를 발표하며, 짧은 치료 기간, 낮은 약물 상호작용 위험, 식사 영향 없음 등 장점을 갖춘 HCV 치료제의 잠재적 최고 수준 프로필을 입증했습니다.
Atea Pharmaceuticals (Nasdaq : AVIR) a publié ses résultats financiers du deuxième trimestre 2025 et a fourni des mises à jour sur son programme de traitement de l'HCV. Les essais de phase 3 (C-BEYOND et C-FORWARD) pour la thérapie combinée bemnifosbuvir/ruzasvir progressent comme prévu, avec un recrutement conforme aux attentes dans les deux études. L'étude de phase 2 a révélé des résultats prometteurs avec un taux de réponse virologique soutenue de 98% à 12 semaines après traitement.
Les points financiers clés incluent une trésorerie de 379,7 millions de dollars au 30 juin 2025, contre 454,7 millions à la fin de 2024. La société a enregistré une perte nette de 37,2 millions de dollars au deuxième trimestre 2025. Atea a racheté 4,6 millions d'actions à un prix moyen de 3,01 dollars par action dans le cadre de son programme de rachat d'actions de 25 millions de dollars et explore des alternatives stratégiques avec Evercore.
L'entreprise a présenté quatre posters scientifiques lors de l'EASL 2025, démontrant le profil potentiellement best-in-class de son traitement contre l'HCV, avec des avantages tels qu'une durée de traitement courte, un faible risque d'interactions médicamenteuses et aucune contrainte alimentaire.
Atea Pharmaceuticals (Nasdaq: AVIR) veröffentlichte die Finanzergebnisse für das zweite Quartal 2025 und gab Updates zu seinem HCV-Behandlungsprogramm bekannt. Die Phase-3-Studien (C-BEYOND und C-FORWARD) für die Kombinationstherapie mit bemnifosbuvir/ruzasvir schreiten planmäßig voran, wobei die Einschreibungen in beiden Studien im Zeitplan liegen. Die Phase-2-Studie zeigte vielversprechende Ergebnisse mit einer 98% anhaltenden virologischen Reaktion 12 Wochen nach Behandlungsende.
Finanzielle Highlights umfassen eine Barmittelposition von 379,7 Millionen US-Dollar zum 30. Juni 2025, verglichen mit 454,7 Millionen US-Dollar Ende 2024. Das Unternehmen meldete einen Nettoverlust von 37,2 Millionen US-Dollar im zweiten Quartal 2025. Atea hat im Rahmen seines 25-Millionen-Dollar-Aktienrückkaufprogramms 4,6 Millionen Aktien zu einem durchschnittlichen Preis von 3,01 US-Dollar pro Aktie zurückgekauft und prüft strategische Alternativen mit Evercore.
Das Unternehmen präsentierte vier wissenschaftliche Poster auf der EASL 2025 und zeigte das potenzielle Best-in-Class-Profil seines HCV-Regimes mit Vorteilen wie kurzer Behandlungsdauer, geringem Risiko von Arzneimittelwechselwirkungen und keiner Nahrungsmittelabhängigkeit.
- Phase 2 study showed strong 98% SVR12 efficacy rate in treatment-adherent population
- Global Phase 3 enrollment progressing on track in both C-BEYOND and C-FORWARD trials
- Strong cash position of $379.7 million as of Q2 2025
- Reduced R&D expenses by $2.4 million and G&A expenses by $3.2 million year-over-year
- Initiated $25 million share repurchase program
- Drug shows potential for use without dose adjustment in patients with hepatic or renal impairment
- Net loss of $37.2 million in Q2 2025
- Cash position decreased from $454.7 million to $379.7 million since December 2024
- Interest income decreased by $2.2 million compared to Q2 2024
Insights
Atea's HCV regimen shows promising 98% efficacy in Phase 2 with favorable safety profile as Phase 3 trials advance.
Atea Pharmaceuticals is making substantial progress with its bemnifosbuvir/ruzasvir combination for hepatitis C virus (HCV), demonstrating
The differentiated product profile of this regimen addresses several key unmet needs in HCV treatment: (1) shortened treatment duration, (2) minimal drug-drug interactions, and (3) no food effect restrictions. These attributes are particularly valuable given that up to
The pharmacokinetic data presented at EASL 2025 further strengthens the clinical profile, showing the regimen can likely be used without dose adjustments in patients with hepatic impairment, renal dysfunction (including dialysis patients), and alongside common HIV medications. This versatility addresses important treatment gaps in vulnerable HCV populations with multiple comorbidities.
Despite advances in HCV treatment, the disease remains undertreated globally with 50 million chronic infections worldwide and 2.4-4.0 million in the US alone. The company is targeting an opportunity where annual new infections continue to outpace treatment rates. By developing a regimen specifically optimized for today's test-and-treat models, Atea is positioning its product as potentially best-in-class in an evolving but still substantial market where simpler treatment regimens could increase cure rates.
Atea reports $379.7M cash position with controlled burn rate while advancing Phase 3 HCV program and exploring strategic alternatives.
Atea Pharmaceuticals maintains a strong financial position with
Research and development expenses decreased
Net loss for the quarter was
Notably, Atea has engaged Evercore to explore strategic alternatives, including potential partnerships, mergers, acquisitions, or asset sales. This strategic review, combined with the share repurchase program, suggests management is actively seeking to maximize shareholder value beyond the organic development path of their HCV asset. Given the company's substantial cash position relative to its market capitalization, these actions reflect management's focus on addressing potential undervaluation while maintaining sufficient resources to advance its clinical programs.
Patient Enrollment Advances in Global Phase 3 Program for Treatment of HCV
Four Scientific Posters Presented at EASL, Including Final Results from Phase 2 Study of Bemnifosbuvir/Ruzasvir Regimen Confirming
Regimen of Bemnifosbuvir/Ruzasvir has Potential Best-in-Class Profile with Short Treatment Duration, Low Risk for Drug-Drug Interactions and Convenience with No Food Effect
BOSTON, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (Atea or Company), a clinical-stage biopharmaceutical company engaged in the discovery and development of oral antiviral therapeutics for serious viral diseases, today reported financial results for the second quarter ended June 30, 2025, and provided a business update.
The Company’s combination regimen of bemnifosbuvir, a nucleotide analog polymerase inhibitor, and ruzasvir, an NS5A inhibitor, is being evaluated in a global Phase 3 development program for the treatment of hepatitis C virus (HCV). This program is comprised of two Phase 3 clinical trials with C-BEYOND being conducted in the US and Canada and C-FORWARD being conducted outside North America.
“Atea has made significant progress this year advancing our global Phase 3 program evaluating the regimen of bemnifosbuvir/ruzasvir for the treatment of HCV. Global patient enrollment is on track in both C-BEYOND and C-FORWARD trials,” said Jean-Pierre Sommadossi, PhD, Chief Executive Officer and Founder of Atea. “We are focused on the successful development of a potential best-in-class HCV regimen to treat and cure today’s patients infected with HCV.”
“Healthcare providers have stated that test-and-treat models of care, with seamless diagnosis and treatment for patients infected with HCV, are necessary to make a substantial impact on the eradication of HCV. Based on results to-date, we believe that the profile of our regimen, which includes a short treatment duration, low risk for drug-drug interactions and convenience with no food effect, is particularly well suited for the test-and-treat model and has the potential to help advance HCV elimination in the US and globally,” continued Dr. Sommadossi.
HCV continues to be a significant global health burden despite the availability of direct-acting antivirals (DAAs). Between 2.4 to 4.0 million people in the US are living with chronic HCV and an estimated 50 million people are infected worldwide with approximately one million new infections occurring each year. In the US, HCV diagnoses continually outpace annual cure rates. According to healthcare providers who treat patients with HCV, a new treatment option offering high efficacy, a short treatment duration, and a low risk of drug-drug interactions is sought to address the needs of a changing patient population and make a meaningful impact on HCV eradication, as up to 80 percent of patients take multiple medications to manage comorbidities and coinfections.
About the Phase 3 C-BEYOND and C-FORWARD Trials in Adults with Chronic HCV
Atea’s HCV Phase 3 development program includes two open-label Phase 3 trials, C-BEYOND being conducted in the US and Canada, and C-FORWARD being conducted outside of North America. Patient enrollment in the C-BEYOND trial was initiated in April of 2025 and enrollment in the C-FORWARD trial was initiated in June of 2025.
Each Phase 3 trial is enrolling approximately 880 treatment-naïve patients, including those with and without compensated cirrhosis. The trials compare the fixed-dose combination (FDC) regimen of bemnifosbuvir/ruzasvir to the FDC regimen of sofosbuvir/velpatasvir. The regimen of bemnifosbuvir/ruzasvir is administered orally once-daily for eight weeks (in patients without cirrhosis) or 12 weeks (in patients with compensated cirrhosis) while the regimen of sofosbuvir/velpatasvir is administered orally once-daily for 12 weeks to all patients, with or without compensated cirrhosis.
The primary endpoint for each trial is HCV RNA < lower limit of quantitation (LLOQ) at 24 weeks from the start of treatment and encompasses sustained virologic response 12 weeks post-treatment (SVR12) in each arm. Measurement at 24 weeks from the start of treatment is to ensure the primary endpoint occurs at the same relative timepoint from the start of treatment in all patients.
Summary of Presentations at European Association for the Study of the Liver (EASL) Congress 2025
Four scientific posters were presented at the EASL Congress 2025 in early May, and the posters can be accessed here. Highlights from the presentations included:
- Phase 2 efficacy and safety results for the regimen of bemnifosbuvir/ruzasvir for the treatment of HCV were presented from the full cohort of patients (n=275) enrolled. These results showed a robust
98% (210/215) SVR12 with the regimen in the “Per-Protocol Treatment-Adherent Population.” The SVR12 rate was95% (245/259) in the “Per-Protocol Regardless of Adherence Population” (also referred to as the “efficacy evaluable population”), which included patients who were not treatment adherent (17% ). The regimen was generally safe and well tolerated in this study. - Phase 1 pharmacokinetic results, which evaluated a single 550 mg dose of bemnifosbuvir in participants with varying degrees of hepatic impairment, support the use of bemnifosbuvir without dose adjustment in patients with hepatic impairment.
- Phase 1 drug-drug interaction results in healthy participants demonstrated that co-administration of bemnifosbuvir and ruzasvir with the standard human immunodeficiency virus (HIV) regimen bictegravir/emtricitabine/tenofovir alafenamide (B/FTC/TAF) resulted in no clinically significant pharmacokinetic changes.
- Phase 1 renal impairment results demonstrated that a single 550 mg dose of bemnifosbuvir was safe and well-tolerated across participants with normal kidney function, moderate-to-severe renal impairment, and in those with end-stage renal disease on hemodialysis. These results suggest bemnifosbuvir may be used without dose adjustment in patients with renal dysfunction, including those undergoing dialysis.
HCV Key Opinion Leader (KOL) Discussion Panel Event
Atea hosted a virtual KOL investor event featuring a panel of six HCV experts and prescribers on May 14, 2025. These leaders in hepatology, gastroenterology, infectious diseases, and HCV research in the US, Canada and Europe discussed the current challenges experienced by people living with HCV, the full results of Atea’s global Phase 2 study evaluating the regimen of bemnifosbuvir/ruzasvir for the treatment of HCV, and what a new optimized HCV therapy could provide for prescribers and patients. Additionally, Company management discussed the commercial market opportunity for a potential best in class HCV DAA and the ongoing global Phase 3 clinical development of the regimen of bemnifosbuvir/ruzasvir. The replay of the KOL event can be accessed here.
Business and Organizational Updates
- In April 2025, Atea refreshed its Board of Directors with the appointment of Howard H. Berman, PhD, who served as an observer until appointment in June 2025 as a Board member. Dr. Berman has over 20 years of entrepreneurial and life science industry experience working at the interplay of science and business.
- In April 2025, Atea announced that its Board of Directors had authorized the repurchase of up to
$25 million of the Company’s common stock. This initiative reflects the Company’s commitment to return capital to shareholders, while maintaining the capacity to complete its global Phase 3 HCV program and position Atea for long-term success. As of June 30, 2025, the Company had repurchased 4,619,597 shares of common stock at an average purchase price of$3.01 per share. - The Company continues to evaluate all options to maximize shareholder value and has engaged Evercore to assist in this process. The process includes a review of a broad range of strategic alternatives, including strategic partnerships, acquisition, merger, or other business combination, sale of assets or other strategic transactions.
Second Quarter 2025 Financial Results
Cash, Cash Equivalents and Marketable Securities:
Research and Development Expenses: Research and development expenses decreased by
General and Administrative Expenses: General and administrative expenses decreased by
Interest Income and Other, Net: Interest income and other, net, decreased by
Income Taxes: Income tax expense was
| Condensed Consolidated Statement of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Operating expenses | |||||||||||||||
| Research and development | $ | 32,275 | $ | 34,696 | $ | 61,859 | $ | 92,271 | |||||||
| General and administrative | 9,070 | 12,220 | 18,527 | 24,451 | |||||||||||
| Total operating expenses | 41,345 | 46,916 | 80,386 | 116,722 | |||||||||||
| Loss from operations | (41,345 | ) | (46,916 | ) | (80,386 | ) | (116,722 | ) | |||||||
| Interest income and other, net | 4,391 | 6,637 | 9,363 | 13,505 | |||||||||||
| Loss before income taxes | (36,954 | ) | (40,279 | ) | (71,023 | ) | (103,217 | ) | |||||||
| Income tax expense | (207 | ) | (243 | ) | (410 | ) | (474 | ) | |||||||
| Net loss | $ | (37,161 | ) | $ | (40,522 | ) | $ | (71,433 | ) | $ | (103,691 | ) | |||
| Other comprehensive loss | |||||||||||||||
| Unrealized gain (loss) on available-for-sale investments | (81 | ) | (99 | ) | (196 | ) | (487 | ) | |||||||
| Comprehensive loss | $ | (37,242 | ) | $ | (40,621 | ) | $ | (71,629 | ) | $ | (104,178 | ) | |||
| Net loss per share - basic and diluted | $ | (0.44 | ) | $ | (0.48 | ) | $ | (0.85 | ) | $ | (1.23 | ) | |||
| Weighted-average number of common shares - basic and diluted | 83,747,335 | 84,253,700 | 84,449,318 | 84,069,646 | |||||||||||
| Selected Condensed Consolidated Balance Sheet Data (in thousands) (unaudited) | |||||||
| June 30, 2025 | December 31, 2024 | ||||||
| Cash, cash equivalents and marketable securities | $ | 379,713 | $ | 454,721 | |||
| Working capital(1) | 365,485 | 443,752 | |||||
| Total assets | 391,605 | 464,668 | |||||
| Total liabilities | 27,189 | 25,801 | |||||
| Total stockholder's equity | 364,416 | 438,867 | |||||
| (1) Atea defines working capital as current assets less current liabilities. See the Company’s condensed consolidated financial statements in its Quarterly Report on Form 10-Q for the three months ended June 30, 2025 for further detail regarding its current assets and liabilities. | |||||||
About HCV
HCV is a blood-borne, positive-sense, single-stranded (ss) RNA virus that primarily infects liver cells. HCV is a leading cause of chronic liver disease and liver transplants, spreading via blood transfusion, hemodialysis and needle sticks, with approximately 240,000 deaths occurring each year. Despite the availability of direct-acting antivirals, HCV continues to be a significant global healthcare issue. An estimated 50 million people worldwide are chronically infected with HCV and there are approximately one million new infections each year. In the US, between 2.4 and 4.0 million people are estimated to have HCV with annual new infections outpacing treatment rates. HCV infections in the US predominate in patients in the age group between 20-49 years old, and it is estimated that less than
About Atea Pharmaceuticals
Atea is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral antiviral therapies to address the unmet medical needs of patients with serious viral infections. Leveraging Atea’s deep understanding of antiviral drug development, nucleos(t)ide chemistry, biology, biochemistry and virology, Atea has built a proprietary nucleos(t)ide prodrug platform to develop novel product candidates to treat single stranded ribonucleic acid, or ssRNA, viruses, which are a prevalent cause of serious viral diseases. Atea plans to continue to build its pipeline of antiviral product candidates by augmenting its nucleos(t)ide platform with other classes of antivirals that may be used in combination with its nucleos(t)ide product candidates. Atea’s lead program and current focus is on the development of the combination of bemnifosbuvir, a nucleotide analog polymerase inhibitor, and ruzasvir, an NS5A inhibitor, to treat HCV. For more information, please visit www.ateapharma.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include but are not limited to statements regarding the potential best-in-class profile of the bemnifosbuvir/ruzasvir regimen for the treatment of HCV, the potential opportunity to advance efforts to eradicate HCV, future results of operations and financial position, business strategy, anticipated milestone events and timelines for clinical trials, benefits of cost savings initiatives, repurchases under the Company’s share repurchase program, and the timing and outcome of the Company’s strategic alternatives review. When used herein, words including “expected,” “should,” “anticipated,” “believe.” “will,” “plans”, and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Atea’s current expectations and various assumptions. Atea believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Atea may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, uncertainties inherent in the drug discovery and development process and the regulatory submission or approval process, unexpected or unfavorable safety or efficacy data or results observed during clinical trials or in data readouts; delays in or disruptions to clinical trials or our business; our reliance on third parties over which we may not always have full control; our ability to manufacture sufficient commercial product; competition from approved treatments for HCV; the timeline for the completion of the strategic alternatives review process is unknown and there can be no assurance that the process will result in any particular outcome; dependence on the success of Atea’s most advanced product candidates, in particular the bemnifosbuvir/ruzasvir regimen for the treatment of HCV; as well as the other important factors discussed under the caption “Risk Factors” in Atea’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 as such factors may be updated from time to time in its other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While Atea may elect to update such forward-looking statements at some point in the future, except as required by law, it disclaims any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing Atea’s views as of any date subsequent to the date of this press release.
Contacts
Jonae Barnes
SVP, Investor Relations and Corporate Communications
617-818-2985
Barnes.jonae@ateapharma.com
Joyce Allaire
LifeSci Advisors
jallaire@lifesciadvisors.com
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