Atea Pharma Secures AT-527-Related Milestone Payment Of $50M From Roche

  • Atea Pharmaceuticals Inc AVIR has achieved a development milestone associated with AT-527 and expects to receive a related payment under its license agreement with Roche Holding AG RHHBY of $50 million.
  • Under the license agreement, Roche and Atea are jointly developing AT-527 for the treatment of COVID-19.
  • Atea retains rights to commercialize AT-527 in the U.S., and Roche has the exclusive right to commercialize AT-527 outside of the U.S.
  • AT-527 is an orally administered, direct-acting antiviral developmental agent in Phase 3 development to treat COVID-19.
  • In April, the first patient was dosed in the Phase 3 MORNINGSKY trial evaluating AT-527 in mild or moderate COVID-19 patients in an outpatient setting.
  • Price Action: AVIR shares closed at $23.85 on Tuesday.
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