Atea Pharmaceuticals (AVIR) Q2 2026 Earnings Call: C-BEYOND Meets Phase 3 Endpoint

Key Takeaways

• Atea Pharmaceuticals’ Phase 3 C-BEYOND trial met its primary endpoint. Bemnifosbuvir/ruzasvir achieved a 93.9% sustained virologic response rate versus 94.8% for sofosbuvir/velpatasvir in the modified intent-to-treat population, meeting the prespecified 5% non-inferiority margin.
• Among non-cirrhotic patients, the combination produced a 93.5% response rate after eight weeks, compared with 94.6% for 12 weeks of sofosbuvir/velpatasvir. In compensated cirrhosis, both 12-week regimens achieved 95.4%.
• The fully enrolled C-FORWARD Phase 3 trial includes more than 880 patients outside North America. Top-line results are expected in early Q1 2027, followed by a potential NDA submission in Q2 2027 if results are positive.
• Cash and marketable securities totaled $219.5 million as of June 30, 2026. Management expects the company’s cash runway to extend through 2027.
• Atea initiated a first-in-human Phase 1 trial of AT-587 for chronic hepatitis E in July. The first cohort has been completed, and the study is advancing to the next cohort.
• Management estimates peak annual U.S. net revenue potential above $700 million for bemnifosbuvir/ruzasvir and anticipates a mid-2028 launch, subject to successful development and regulatory approval.

Core Financial Data

Business and Operating Performance