Atea Pharma surges after promising COVID pill data

Atea Pharmaceuticals

10/05/2022 16:35

** Drug developer's shares  AVIR.O  up ~12 at $5.95 
    ** Company says a late-stage study related to its COVID-19
pill showed 71% reduction in hospitalization; main goal of
symptom alleviation was not achieved  urn:newsml:reuters.com:*:nGNX4R1f7m
    ** The study enrolled a broad patient population of whom
about 50% were high risk and 50% were standard risk, with 28%
vaccinated
    ** Roche  ROG.S  ended a partnership with Atea last year to
jointly develop a COVID-19 antiviral pill, a month after the
drug failed to help patients in a small study  urn:newsml:reuters.com:*:nL4N2S748C
    ** Pfizer's  PFE.N  two-drug antiviral regimen, Paxlovid,
was authorized in December, becoming the first oral treatment
for COVID-19
    ** AVIR shares down 40% YTD through Monday's close

 (Reporting by Ankur Banerjee)