Atea Pharmaceuticals reports Q2 EPS (34c), consensus (47c)

Reports Q2 cash position $608.1M at June 30 compared to $646.7M at December 31, 2022. “We continue to advance the global Phase 3 SUNRISE-3 trial for COVID-19 with an expanded global footprint and protocol modifications designed to broaden the eligibility criteria for high-risk patients and increase the study sample size to reflect the current global hospitalization and death rates. Importantly, we do not anticipate that these modifications will change the timing for this trial, as we continue to expect topline results in mid-2024 and are currently targeting a New Drug Application submission by year-end 2024,” said Jean-Pierre Sommadossi, CEO and founder of Atea Pharmaceuticals. “Our strategy for COVID-19 is focused on delivering an effective treatment to the millions of patients for whom the current standard of care is not a suitable option.”