Atea Pharmaceuticals(US:AVIR)2025-03-06 21:33Business Highlights - Robust Phase 2 results for bemnifosbuvir and ruzasvir regimen announced in Dec 2024, supporting potential disruption of the ~$3 billion global HCV market[9] - Successful End-of-Phase 2 meeting with FDA conducted in Jan 2025, with Phase 3 enrollment expected to start in April 2025[9] - Decisive cost-cutting actions in Q1 2025 are expected to contribute ~$15 million in savings through 2027[9] - The company anticipates a cash runway into 2028 due to prudent capital allocation[9, 10] HCV Market and Opportunity - The global HCV market represents approximately $3 billion in annual net sales[9, 16, 59] - The US HCV market accounts for roughly $1.5 billion in net sales in 2024[16] - The US market presents a potential opportunity exceeding $20 billion, assuming treatment of 22 million chronically infected HCV patients at $10000 net revenue per patient[16, 17] Clinical Trial Results and Program - Phase 2 study demonstrated high SVR12 rates, with 98% SVR12 in treatment-adherent patients and 95% SVR12 regardless of adherence[33, 34] - In non-cirrhotic treatment-adherent patients, the SVR12 rate was 99% across genotypes, while it was 97% regardless of adherence[38, 39, 41] - Approximately 25% reduction of workforce in Q1 2025 to enhance efficiency[56] Financials - Cash, cash equivalents, and marketable securities totaled $454721 million as of December 31, 2024[52] - Net loss for the year ended December 31, 2024, was $168385 million, compared to $135956 million for the year ended December 31, 2023[49]