Atea Pharmaceuticals, Inc. Q2 FY2025 earnings call

Clinical Progress

• HCV Program: Started dosing patients in global Phase III (C-BEYOND in US/Canada, C-FORWARD outside North America). Presented final results from global Phase II with 98% cure rate in 8-week treatment. Hosted KOL event in May with HCV experts discussing challenges and potential of new therapy.

Shareholder Value Initiatives

• Repurchased up to $25 million of common stock in April to return capital to shareholders. Added new independent director Dr. Howard Berman with over 20 years of life science industry experience.

HCV Program Details

• Phase II study: 98% SVR12 rate in adherent patients, 95% in non-adherent. Phase III trials comparing bemnifosbuvir/ruzasvir to sofosbuvir/velpatasvir; 2-pill regimen for 8-12 weeks vs 12 weeks for competitor. Low drug-drug interaction profile shown in Phase I studies.

Market Research

• Quantitative study of U.S. DAA prescribers: 76% extremely likely to prescribe bemnifosbuvir/ruzasvir, with half of patients likely to be treated with it.

No traditional product segment financial performance detailed; focus is on HCV program progress. Clinical highlights include Phase III trial dosing, Phase II results showing 98% cure rate, and market research indicating high prescriber preference for the HCV regimen.

Phase III Timing

• Anticipate top line results from C-BEYOND mid-2026 and C-FORWARD end-2026. ### Financial Outlook
• Cash runway extends through 2027 with $379.7 million cash, cash equivalents, and marketable securities as of June 30, 2025.

• Forward-looking statements involve risks and uncertainties outlined in press release and SEC filings. Actual results may differ materially from discussions.

Q: Could you provide an update on how enrollment is progressing in the Phase III C-BEYOND and C-FORWARD trials? And what kind of feedback or enthusiasm you might be hearing from investigators so far?

A: Enrollment is progressing on track. C-BEYOND is moving faster due to quicker regulatory approvals in North America compared to C-FORWARD. Investigators show keen interest as the study reflects a strong value proposition for patients, leading to on-time enrollment.