Atea Pharmaceuticals reports Q3 EPS (40c), consensus (48c)

Cash, cash equivalents and marketable securities were $595.1M at September 30 compared to $608.1M at June 30. “Promising enrollment trends continue in our Phase 3 SUNRISE-3 trial for COVID-19, reflecting infection rates globally. Our goal is to deliver an effective treatment to the millions of patients for whom the current standard of care is not a suitable option, and we look forward to reporting on several milestones for SUNRISE-3 in 2024,” said Jean-Pierre Sommadossi, Chief Executive Officer and Founder of Atea Pharmaceuticals. “The SARS-CoV-2 virus continues to mutate faster than other endemic RNA viruses, and we need new, safe, and well tolerated oral antivirals for all patients, including those who are the most vulnerable. To avoid the emergence of cross-resistance, we also need a broader and more diversified arsenal of oral antivirals with various distinct mechanisms of action.”