Atea Pharma up on FDA's 'fast track' tag for COVID-19 drug

Atea Pharmaceuticals

25/04/2023 13:10

** Shares of drug developer Atea Pharmaceuticals Inc
 AVIR.O  up 5.6% at $3.4 premarket 
    ** U.S. FDA granted "fast track" designation (FTD) to co's
antiviral drug candidate bemnifosbuvir, for treating COVID-19
    ** "Fast track" tag facilitates development and expedites
review of drug candidates intended to treat serious conditions
    ** Candidate currently being evaluated in late-stage trial
for the treatment of COVID-19 in outpatients at high risk for
disease progression, regardless of vaccination status 
    ** Study includes patients over the age of 80, patients 65
years or older with at least one major risk factor, and anyone
over the age of 18 who is immunocompromised
    ** Trial's primary goal to test all causes of
hospitalization or death on Day 29 in at least 1,300 patients
evaluating bemnifosbuvir as a monotherapy, according to company
    ** As of last close, co's stock down 33.30% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))