NASDAQ$AVIR
Atea Pharmaceuticals Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Atea reported financial results for the third quarter of 2021 and provided a clinical and corporate update.
Atea Pharmaceuticals reported a net loss of $28.2 million for Q3 2021, with collaboration revenue of $32.8 million driven by the Roche License Agreement. The company is focusing on the development of AT-527, with ongoing Phase 3 trials and protocol amendments to improve trial outcomes. New data supports AT-527's antiviral activity against COVID-19 variants.
- Atea is amending the Phase 3 MORNINGSKY trial protocol to include a new primary endpoint, refined patient population, and increased dosage.
- Exploratory analyses from the Phase 2 MOONSONG trial indicate potent antiviral activity of AT-527, reducing viral load in COVID-19 patients.
- In vitro data show AT-511 (free base of AT-527) is active against COVID-19 variants of concern, including Delta.
- Atea's collaboration revenue for the quarter was $32.8 million, derived from the Roche License Agreement.
Headline financials
Revenue & EPS history
Atea · Revenue · Quarterly
$32.8M
Forward guidance
Atea Pharmaceuticals is working to deliver AT-527 as an oral antiviral treatment for COVID-19. The company plans to initiate a Phase 2 trial for AT-752 during the first half of 2022.
Tailwinds
- AT-527 shows rapid and potent antiviral activity against COVID-19.
- AT-511 is active against variants of concern, including Delta.
- Atea is enhancing the MORNINGSKY trial infrastructure to accelerate enrollment.
- AT-527 has dual targets against a key viral enzyme.
- Phase 3 MORNINGSKY data are anticipated in the second half of 2022.
Headwinds
- The global Phase 2 MOONSONG trial evaluating AT-527 in the outpatient setting did not meet the primary endpoint.
- Net loss for the quarter ended September 30, 2021 increased by $10.6 million from the quarter ended September 30, 2020.
- There are risks and uncertainties associated with the development of AT-527 as a potential treatment for COVID-19.
- Atea has a limited operating history and significant losses since inception.
- Atea is dependent on the success of its most advanced product candidates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2021
+0.1%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+4.2%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+16.1%
Q1 2021
Best reaction
-16.2%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2024 | — | — | — | |
| Q4 2025 | +11.1% | +15.1% | +8.7% | |
| Q3 2025 | -12.1% | -12.9% | -10.0% | |
| Q2 2025 | -2.6% | +1.2% | -2.6% | |
| Q1 2025 | +2.2% | +4.0% | +16.4% | |
| Q4 2024 | -0.3% | +3.3% | -7.0% | |
| Q3 2024 | -2.2% | -7.0% | -17.9% | |
| Q1 2024 | -8.2% | -9.7% | -8.4% | |
| Q4 2023 | -5.5% | -11.4% | -11.4% | |
| Q3 2023 | -10.7% | -14.0% | -10.1% | |
| Q2 2023 | +4.1% | +0.3% | -3.5% | |
| Q1 2023 | -1.2% | -3.0% | +35.8% | |
| Q4 2022 | -8.7% | -0.8% | -8.1% | |
| Q3 2022 | -12.4% | -14.4% | -24.0% | |
| Q2 2022 | -3.5% | -4.3% | -11.7% | |
| Q1 2022 | +12.9% | +36.8% | +52.7% | |
| Q4 2021 | +1.4% | -9.7% | +11.1% | |
| Q3 2021 | +6.5% | +6.5% | -25.3% | |
| Q2 2021 | -16.2% | -12.9% | -13.4% | |
| Q1 2021 | +16.1% | +18.7% | +20.4% | |
| Q2 2020 | +5.3% | -1.4% | -55.0% | |
| Q4 2020 | +5.3% | -1.4% | -55.0% | |
| Q1 2020 | +7.2% | +10.6% | +73.1% | |
| Q4 2019 | +7.2% | +10.6% | +73.1% | |
| Q3 2020 | +7.2% | +10.6% | +73.1% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — |
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