Atea Pharmaceuticals, Inc. reported a net loss of $168.4 million for the year ended December 31, 2024, compared to a net loss of $135.9 million in 2023. Operating expenses increased by $28.8 million to $192.9 million in 2024, primarily due to higher research and development expenses related to the completion of the COVID-19 SUNRISE-3 Phase 3 clinical trial and the HCV Phase 2 clinical trial. Research and development expenses specifically rose by $29.9 million to $144.1 million, while general and administrative expenses decreased slightly by $1.1 million to $48.8 million. Interest income and other net decreased by $3.7 million to $25.5 million, primarily due to lower investment balances.
The company's lead product candidate is a regimen of bemnifosbuvir and ruzasvir for the treatment of chronic HCV infection. In December 2024, Atea announced that its Phase 2 study of this regimen met its primary endpoints of safety and SVR12, achieving a 98% SVR12 rate in the per-protocol treatment-adherent population and a 95% rate in the broader efficacy-evaluable population. The company plans to initiate a Phase 3 program in April 2025, consisting of two open-label trials comparing the regimen to sofosbuvir and velpatasvir in approximately 800 treatment-naïve patients each. The primary efficacy endpoint will be HCV RNA
About Atea Pharmaceuticals, Inc.
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