Atea Pharmaceuticals (NasdaqGS:AVIR) Q4 2025 Earnings call March 05, 2026 04:30 PM ET Company ParticipantsAndrea Corcoran - CFO and EVP of LegalArantxa Horga - Chief Medical OfficerJanet Hammond - Chief Development OfficerJean-Pierre Sommadossi - CEO and FounderJohn Vavricka - Chief Commercial OfficerJonae Barnes - SVP of Investor Relations and Corporate CommunicationsJonathan Miller - Managing Director of Biotech and Pharma Equity ResearchConference Call ParticipantsAndy Hsieh - Biotech Research AnalystNon ...

Financial Data and Key Metrics Changes - As of December 31, 2025, the company reported cash and investments of $301.8 million, indicating a strong financial position to support ongoing clinical programs [22] - The funds expended in 2025 were primarily directed towards the advancement of the HCV Phase 3 program and discovery efforts for HEV treatment [22] - R&D expenses increased in 2025 compared to 2024, driven by external spending on HCV clinical development, while G&A expenses decreased due to lower stock-based compensation [23] Business Line Data and Key Metrics Changes - The global Phase 3 HCV program is on track, with enrollment completed for the North American trial C-BEYOND and expected completion for C-FORWARD by midyear [7][12] - The company anticipates top-line results for C-BEYOND by midyear and for C-FORWARD by year-end [7][25] - The HEV program is positioned as a strategic expansion, with AT-587 selected as the lead product candidate, aiming to address a significant unmet need in immunocompromised patients [20][26] Market Data and Key Metrics Changes - In the U.S., approximately 160,000 new chronic HCV infections are reported annually, with only 85,000 patients treated, highlighting a significant treatment gap [8][15] - The incidence of liver cancer, primarily caused by Hepatitis C, is projected to increase by over 50% within the next five years [9] - The unmet need for chronic HEV treatment represents a market opportunity estimated between $750 million and $1 billion per year [20] Company Strategy and Development Direction - The company is focused on delivering a differentiated and optimized therapy for HCV, with a regimen designed to fit the test and treat model of care [5][25] - The commercial strategy includes a user-friendly blister card for adherence and a projected profitability shortly after launch [16] - The HEV program represents a strategic expansion of the antiviral pipeline, addressing a major unmet need for patients with no approved treatment available [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving enrollment targets for both C-BEYOND and C-FORWARD, indicating a robust clinical program [28] - The company anticipates a pivotal year in 2026, with key milestones expected from both HCV and HEV programs [25][26] - The management highlighted the importance of treatment duration and low risk of drug-drug interactions as key factors influencing prescriber preferences [40] Other Important Information - The company returned $25 million to stockholders through a share repurchase program in 2025, reflecting a commitment to drive shareholder value [22] - The company is preparing for a commercial launch while maintaining financial discipline and focusing on value-creating advancements [24] Q&A Session Summary Question: Does achieving enrollment targets for the cirrhotic population for C-BEYOND increase confidence in C-FORWARD? - Management confirmed that cirrhotic enrollment has not been an issue and they are confident in achieving overall targets for both trials [28] Question: Can you discuss the commercial landscape and pricing evolution for HCV? - Management explained that the specialty market for DAAs is well understood, and preliminary research indicates payers are interested in including the new regimen in formularies, with stable pricing trends observed [31][32][33] Question: How does the primary endpoint analysis for C-BEYOND affect the regimen's effect size? - Management indicated that the modified intent-to-treat analysis allows for flexibility in dosing, and they are optimistic about the regimen's potential based on phase 2 data [36][37] Question: Can you elaborate on the Merck license agreement? - Management confirmed the in-licensing of ruprezvir, with milestone payments and royalties due upon successful commercialization, expected in 2027 [44]

Mirxes Holding Company Limited （ 於 開 曼 群 島 註 冊 成 立 的 有 限 責 任 公 司 ） （股份代號：2629） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或依 賴該等內容而引致的任何損失承擔任何責任。 自願性公告 中標2026年濂溪區胃癌篩查和早期干預項目 本公告乃由Mirxes Holding Company Limited（「本公司」，連同其附屬公司統稱「本 集團」）自願刊發，旨在知會本公司股東及潛在投資者有關本集團的最新業務 發展。 2026年濂溪區胃癌篩查和早期干預項目 本公司董事（「董事」）會（「董事會」）宣佈，於2026年3月3日，本公司成功中標 2026年濂溪區胃癌篩查和早期干預項目（「該項目」），這是本公司首個公共衛生 癌症早篩項目，也是其在中國首個政府採購項目，標誌著其miRNA液體活檢技 術正式進入公共衛生體系，為胃癌早篩規模化落地奠定關鍵基礎。 該項目預算金額人民幣810.0萬元，最高投標價人民幣769.5萬元，將為中國江 西九 ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

撰文丨王聪 编辑丨王多鱼 排版丨水成文 衰弱 （ Frailty ） ， 不是一种特定的疾病，而是一种临床综合征，它指的是老年人由于多种生理系统功能 储备下降，导致机体易损性增加、抗应激能力减退的非特异性状态，可以把它理解为身体各个器官的"余 量"或"储备能力"降低了。 一个衰弱的老年人，可能平时生活尚能自理，但一旦遇到轻微的应激事件 （例如一次小感染、小手术、跌 倒甚至情绪波动） ，就可能导致健康状况急剧恶化，出现跌倒、失能、住院甚至死亡等严重不良后果。 衰 弱会缩短老年人的健康寿命，但目前尚无有效治疗方法。 2026 年 2 月 25 日，抗衰老公司 Longeveron 的研究人员在 Cell 子刊 Cell Stem Cell 上发表了题为： Randomized phase 2b dose-escalation trial of stem cell therapy with laromestrocel for aging frailty 的研究论文。 该研究报道了 同种异体 间充质干细胞疗法 （商品名为 Laromestrocel） 治疗衰老衰弱的随机 2b 期剂量 递增临床试验的结果，该临床试验达 ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...