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AVIR 1Q24 results:
https://finance.yahoo.com/news/atea-pharmaceuticals-reports-first-quarter-200500150.html
3/31/24 cash = $542M, down from $578M at 12/31/23.
Final results from the phase-3 SUNRISE COVID trial are expected in 2H24 (no change relative to the prior guidance). There are no interim analyses (#msg-174125019).
AVIR completes enrollment of phase-3 COVID trial—cancels interim analyses:
https://www.globenewswire.com/news-release/2024/03/27/2853010/0/en/Atea-Pharmaceuticals-Completes-Patient-Enrollment-in-Global-Phase-3-SUNRISE-3-Trial-Evaluating-Oral-Antiviral-Bemnifosbuvir-for-COVID-19-in-High-Risk-Patients.html
AVIR phase-3 COVID update:
https://finance.yahoo.com/news/atea-pharmaceuticals-reports-fourth-quarter-210500983.html
The first and second interim analyses in the phase-3 COVID trial will be performed in March and in 2Q24, respectively, and the final results will be available in 2H24. 1,400 patients have been enrolled in the bemnifosbuvir monotherapy cohort (the cohort that the primary endpoint is based on).
AVIR had $578M of cash at 12/31/23, which is why they can afford to blow so much money on a longshot trial.
AVIR rejects Tang buyout offer, as expected:
https://www.globenewswire.com/news-release/2023/05/30/2678205/0/en/Atea-Pharmaceuticals%5B%E2%80%A6%5DTang-Capital-Partners-Affiliate-Concentra-Biosciences.html
The offer was for less than AVIR’s cash value.
It's not a serious offering for the reason mentioned in #msg-171974875.
Did you not notice that a CVR of 80% is included in the package?
In other words, AVIR could do better than $5.75/sh by simply liquidating.
AVIR acknowledges Tang buyout offer—makes_no_recommendation_to_shareholders—(yet):
https://www.globenewswire.com/news-release/2023/05/23/2674788/0/en/Atea-Pharmaceuticals-Confirms-Receipt-of-Unsolicited-Proposal-from-Tang-Capital-Partners-Affiliate-Concentra-Biosciences.html
Even thought Tang’s $5.75/sh offer is a big premium to where AVIR was trading prior to the offer, it’s less than AVIR’s cash value per share. Hence, it’s hard to see how AVIR’s BoD could accept the offer. They could make a counter-proposal, of course.
Tang Capital makes_unsolicited AVIR buyout offer@$5.75/sh +CVR—a_55%_premium_to_Friday’s_close:
https://www.sec.gov/Archives/edgar/data/1593899/000121465923007616/z519230sc13d.htm (scan to bottom)
Why does Tang want to acquire AVIR? Presumably for AVIR’s COVID drug, AT-527, such as it is. AT-527 is a polymerase inhibitor that is similar to an HCV drug BMY dropped several years ago due to toxicity. AVIR is conducting a phase-3 trial in high-risk COVID patients using a daily dose of 1100 mg (550mg BID); the trial listing is at: https://www.clinicaltrials.gov/ct2/show/NCT05629962 .
AVIR 1Q23 results:
https://finance.yahoo.com/news/atea-pharmaceuticals-reports-first-quarter-200500951.html
3/31/23 cash = $621M.
So AVIR beat its earnings, and now it might bump up a little tomorrow.
AVIR reports final data from phase-2 COVID trial:
https://www.globenewswire.com/news-release/2023/04/12/2645185/0/en/Atea-Announces-Presentation-of-Bemnifosbuvir-Data-Demonstrating-Reduced-Hospitalizations-for-COVID-19-Patients-at-2023-European-Congress-of-Clinical-Microbiology-Infectious-Disease.html
AVIR 4Q22 results—12/31/22 cash=$647M:
https://www.globenewswire.com/news-release/2023/02/28/2617674/0/en/Atea-Pharmaceuticals-Reports-Fourth-Quarter-and-Full-Year-2022-Financial-Results-and-Provides-Business-Update.html
AVIR expects the interim analysis of the SUNRISE-3 (COVID) phase-3 trial to occur in 2H23. One possible outcome of the interim analysis is increasing the number of patients to provide more statistical power for the final analysis.
AVIR 3Q22 results—9/30/22 cash=$665M:
https://finance.yahoo.com/news/atea-pharmaceuticals-reports-third-quarter-210500282.html
A phase-3 trial of Bemnifosbuvir (f/k/a AT-527) in 1,500 high-risk, non-hospitalized COVID patients is expected to start by the end of 2022. AVIR is defining “high-risk” as: a) age 80+; b) age 65+ with 1 or more major risk factors; or c) an immunocompromised adult of any age.
The daily dose of Bemnifosbuvir is a whopping 1100mg (550mg BID).
AVIR 2Q22 results—6/30/22_cash=$684.5M (down from $705.5M at 3/31/22):
https://finance.yahoo.com/news/atea-pharmaceuticals-reports-second-quarter-200500782.html
AVIR 3/31/22 cash=$705.5M—burning $58.9M in 1Q22...
1Q22 PR:
https://finance.yahoo.com/news/atea-pharmaceuticals-reports-first-quarter-103000747.html
1Q22 CC slides:
https://ir.ateapharma.com/static-files/8a966559-367b-4a3b-96c0-ff21958c0562
Watching for a uptrend
GOOD JOB!!! ya, by the time I discovered AVIR it had gone up 50% from the bottom...
Wow! That's why you don't hold these Pharma overnight.
AVIR
wow went sub $11 and traded the whole float, shit it traded the whole OS 1.5x today https://finviz.com/quote.ashx?t=AVIR
Why AVIR's AT-527 program is no-go: #msg-166425975.
David v Goliath
Interesting article - check out RDHL
https://www.yahoo.com/entertainment/david-v-goliath-race-develop-123328764.html
AVIR CC slides (largely BS, IMO):
https://ir.ateapharma.com/static-files/d72bd065-82b3-4eeb-ad3a-40c5518d66d6
Well the shit just hit the fan. Didn’t meet primary in study. Stock dow $28
The primary endpoint in MRK’s molnupiravir trial was the proportion of patients, relative to placebo, who died or needed hospitalization within 28 days:
https://clinicaltrials.gov/ct2/show/NCT04575597
So I have to confess to my ignorance when it comes to anti-viral clinical trials. It appears that the primary outcome studied in the AT-527 phase 3 trial is evaluated using a Covid 19 Symptom Diary. It does not sound like it is something very precise when asking a patient to score themselves on these 12 questions (which I have not exactly found yet).
But my question is, did the Merck drug molnupiravir get tested using this same method (symptom diary)? It must have been more than that at least as they also measure deaths, etc. - although that may have been secondary outcomes.
You bet! > AVIR up 45% @ 50.05
Thx for the updates
Kiwi
AVIR up 45% @ 50.05 > premarket.
AVIR > 53M share trading float.
Atea Pharmaceuticals to Present at Guggenheim 2nd Annual Vaccines & Infectious Day Conference
7:00 am ET September 29, 2021 (Globe Newswire) Print
Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) ("Atea"), a clinical-stage biopharmaceutical company, today announced that Jean-Pierre Sommadossi, PhD, Chief Executive Officer and Founder of Atea together with other members of the Atea management team, will participate in a fireside chat at the Guggenheim 2nd Annual Vaccines & Infectious Day Conference on Tuesday, October 5, 2021 at 9:30 a.m. ET.
A live webcast of the presentation will be available here and on the Company's website at www.ateapharma.com. A replay of the webcast will be available for 90 days following the presentation.
About Atea Pharmaceuticals
Atea Pharmaceuticals is a clinical stage biopharmaceutical company focused on discovering, developing and commercializing oral therapies to address the unmet medical needs of patients with life-threatening viral diseases. Leveraging the Company's deep understanding of antiviral drug development, nucleos(t)ide chemistry, biology, biochemistry and virology, Atea has built a proprietary nucleotide prodrug platform to develop novel product candidates to treat single stranded ribonucleic acid, or ssRNA, viruses, which are a prevalent cause of severe viral diseases. Currently, Atea is focused on the development of orally-available, potent, and selective nucleotide prodrugs for difficult-to-treat, life-threatening viral infections, including severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19, dengue virus, hepatitis C virus (HCV) and respiratory syncytial virus (RSV). For more information, please visit www.ateapharma.com.
Contacts
Jonae Barnes
SVP, Investor Relations and Corporate Communications
617-818-2985
Barnes.jonae@ateapharma.com
AVIR up 30% @ 45.00 > As Barron's reported in a magazine feature earlier this month , the pills have the potential to play an enormous role as the world adapts to an endemic threat from Covid-19. Even if the antivirals from Merck, Pfizer, the biotech Atea Pharmaceuticals (AVIR), and others, are only moderately effective, they are likely to be in enormous demand globally as patients and governments seek to blunt the human toll of the virus.
The stock is overvalued, IMO.
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