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Stock impact report

Atea Pharmaceuticals' COVID-19 Treatment Flunks In Late-Stage Study, Blames 'Constantly Evolving' Virus [Yahoo! Finance]

Atea Pharmaceuticals, Inc. - common stock (AVIR) 
Company Research Source: Yahoo! Finance
global Phase 3 SUNRISE-3 trial evaluating bemnifosbuvir, an oral nucleotide polymerase inhibitor, versus placebo for COVID-19 The trial did not meet the primary endpoint of a statistically significant reduction in all-cause hospitalization or death through Day 29 in the monotherapy cohort of 2,221 high-risk patients with mild to moderate COVID-19. In SUNRISE-3, bemnifosbuvir was generally safe and well tolerated. “We are disappointed by the outcome of the SUNRISE-3 trial. Variants of COVID-19 are constantly evolving and the natural history of the disease trended toward milder disease, which has resulted in fewer hospitalizations and deaths,” said Jean-Pierre Sommadossi, CEO and Founder of Atea Pharmaceuticals. “In particular, hospitalization due to severe respiratory disease caused by COVID was not observed in SUNRISE-3, in contrast to our prior study. In an environment where there is much less COVID-19 pneumonia, it becomes more difficult for a direct-acting antiviral to demo Show less Read more
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