Atea Pharmaceuticals (AVIR) Jefferies 2024 Global Healthcare Conference summary

Clinical program updates

• Presented new phase II data for COVID-19 and HCV at EASL Congress, highlighting significant clinical progress in both areas in 2024.

• COVID-19 phase III trial enrolled nearly 2,300 high-risk patients globally, with 77% from the U.S., and top-line results expected in the second half of 2024.

• HCV phase II program showed 97% SVR12 cure rate in the lead-in cohort, with 100% cure among adherent patients and strong results in historically hard-to-treat genotype 3.

• Phase III HCV trial anticipated to start after end-of-phase II meeting, around late 2024 or early 2025.

• Both programs are supported by a strong financial position, with over $541 million in cash expected to fund operations into 2027.

Market needs and opportunities

• COVID-19 remains a persistent threat, with evolving variants and unmet needs for safe, tolerable oral treatments for high-risk patients.

• HCV market research shows 94% of top prescribers see unmet needs, especially for shorter, simpler regimens with fewer drug interactions.

• 75% of diagnosed HCV patients in the U.S. remain untreated due to suboptimal product profiles and payer barriers.

• U.S. HCV market exceeds $1.5 billion in net sales, with global revenues over $3 billion, and potential for further expansion with improved therapies.

• COVID-19 oral antiviral market projected at $4–$5 billion annually in the U.S., driven by high-risk populations and ongoing infection rates.

Product profiles and clinical data

• Bemnifosbuvir for COVID-19 offers low drug-drug interaction risk, good safety, and is being tested in high-risk patients in the SUNRISE 3 phase III trial.

• HCV combination of Bemnifosbuvir and Ruzasvir is protease-free, has no food effect, and features an 8-week treatment duration.

• Phase II HCV data show rapid viral suppression across all genotypes, including genotype 3, with high SVR12 rates and no resistance emergence in relapsed cases.

• Adherence remains a challenge, but the high potency of the combination allows for cure even with imperfect adherence.

• Safety profile for the HCV regimen is excellent, with no serious adverse events or discontinuations reported.