Atea Pharmaceuticals, Inc. · NASDAQ:AVIR
Atea Pharmaceuticals — FY2024 Earnings Presentation
23 slides from Atea Pharmaceuticals's earnings presentation, Mar 6, 2025
Slide 1: Q4 and Full Year 2024 Financial and Business Update
Q4 and Full Year 2024 Financial and Business Update March 6, 2025
Slide 2: Disclaimers
DISCLAIMERS Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our curr
Slide 3: Q4 2024 and Recent Q1 2025 Updates
Q4 2024 and Recent Q1 2025 Updates HCV Program Update Robust Phase 2 results for regimen of bemnifosbuvir and ruzasvir announced in Dec. 2024 -- regimen, if approved, supports opportunity to disrupt global HCV market of ~$3B in annual net sales Successful End-of-Phase 2 meeting with FDA conducted in
Slide 4: Broad Antiviral Pipeline with De-risked Phase 3 Program
Broad Antiviral Pipeline with De-risked Phase 3 Program Therapeutic/ Program Preclinical Phase 1 Phase 2 Phase 3 Milestone Indication Flaviviridae Hepatitis C Successful End-of-Phase Fixed Dose Combination: 2 meeting with FDA Bemnifosbuvir (BEM) Nucleotide Phase 3 enrollment +Ruzasvir (RZR) expected
Slide 5: Global HCV: Large Market with Undertreatment of Infections
Global HCV: Large Market with Undertreatment of Infections WHO Worldwide Numbers 50 Million 1 Million Chronic HCV is Leading 242,000 People Infected1 New Infections Annually 1 Cause of Liver Cancer in US, Annual Deaths1 EU & Japan2 CDC US: 2.4 – 4 Million Untreated, >160K Newly Reported Annual Infec
Slide 6: US HCV: Major Commercial Opportunity Poised for Growth
US HCV: Major Commercial Opportunity Poised for Growth Attractive Near-Term Opportunity Poised for Growth >$20B+ Primarily 2 product No Potential US Market competitors in Opportunity2 market clinical development ~$3B ~$1.5B Potential US government global net sales US net sales initiatives to in 2024
Slide 7: BEM/RZR: Potential Best-in-Class Profile
BEM/RZR: Potential Best-in-Class Profile • BEM/RZR: Next generation, pan-genotypic, fixed dose combination of BEM, most potent HCV nucleotide and RZR, highly potent HCV NS5A inhibitor • Targeted Indications: Treatment of adult patients 18 years+ with chronic HCV infection, with and without compensat
Slide 8: Drug-Drug Interaction Profile of BEM/RZR Regimen is a Key Differentiator
Drug-Drug Interaction Profile of BEM/RZR Regimen is a Key Differentiator for HCV Treatment -- ~80% of HCV Patients Take Concomitant Medications1 Healthcare Providers Prefer Therapies Convenient to Prescribe Drug BEM/RZR MAVYRET® EPCLUSA® Oral Contraceptives2 Protease Inhibitor-Containing HIV Drugs S
Slide 9: BEM/RZR Potential Best-in-Class Pan-Genotypic Regimen
BEM/RZR Potential Best-in-Class Pan-Genotypic Regimen Global Phase 3 Program Global Phase 2 Highlights 9
Slide 10: HCV Clinical Update
HCV Clinical Update Phase 2 study completed, efficacy maintained with no viral failures observed between SVR12 and SVR24 Successful End-of-Phase 2 meeting with FDA conducted in January 2025 Phase 3 protocol submitted to FDA Opening of global Phase 3 clinical sites underway o > 250 clinical sites tar
Slide 11: Global HCV Phase 3 Program
Global HCV Phase 3 Program 1 Trial US / Canada & 1 Trial Outside North America Open-label: BEM/RZR Regimen vs Active Comparator in Chronic HCV Patients Randomized (1:1) Non-Cirrhotic 8 weeks BEM/RZR FDC Chronic HCV, patients stratified by cirrhosis US / Canada Trial ~N=680 1:1 12 weeks SOF/VEL FDC a
Slide 12: Phase 2 Open Label Study of BEM+RZR in HCV Patients (N=275)
Phase 2 Open Label Study of BEM+RZR in HCV Patients (N=275) Patient Population: HCV-infected patients BEM 550 mg QD including compensated cirrhosis, direct- acting antiviral naïve, all genotypes RZR 180 mg QD 8 weeks dosing w/combination Total Enrolled (N=275) Primary Endpoints: Per-Protocol Populat
Slide 13: High SVR12 Rates with 98% SVR12 Primary Endpoint
Efficacy Primary Endpoint: High SVR12 Rates with 98% SVR12 95% SVR12 Regardless of Adherence Robust potency and drug Treatment viral kinetics in hard- forgiveness to-treat cirrhotic patients 100% 100% 98% 100% 95% 80% 80% 85% HCV RNA <LLOQ (%) 60% 60% SVR12 (%) 40% 40% 20% 20% 208/213 242/256 29/34
Slide 14: 99% SVR12 in Non-Cirrhotic Treatment Adherent Patients Across Genotypes
99% SVR12 in Non-Cirrhotic Treatment Adherent Patients Across Genotypes 97% SVR12 Regardless of Adherence Very high SVR12 cure rates in non-cirrhotic Robust potency and drug patients across genotypes forgiveness 100% 100% 99% 99% 100% 100% 100% Overall: 97% 98% 99% SVR12 97% SVR12 80% Non-cirrhotic
Slide 15: Safety Primary Endpoint: BEM+RZR Regimen Generally Safe and Well Tolerated
Safety Primary Endpoint: BEM+RZR Regimen Generally Safe and Well Tolerated Phase 2 Open Label Study of BEM+RZR for 8 Weeks No drug-related SAEs or Regimen was generally treatment AEs were generally mild No trends observed in safe and well tolerated in discontinuations due to to moderate AEs or safet
Slide 16: Modeling Data Provides Strong Support for Successful Phase 3 Program
Modeling Data Provides Strong Support for Successful Phase 3 Program Multiscale viral kinetics modeling supports 8 weeks of BEM/RZR for non-cirrhotics and up to 12 weeks for cirrhotics 1.E+08 10 8 F 0-3 1.E+06 10 6 F4 HCV viral load (IU/mL) Time to <LLOQ in Time to Cure 1.E+04 plasma 10 4 ~12-16 day
Slide 17: Financial Update: 4th Quarter and Full Year 2024 Results
Financial Update 4th Quarter and Full Year 2024 Results 17
Slide 18: Condensed Consolidated Statement of Operations and Comprehensive Loss
18 Financial Update Condensed Consolidated Statement of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited) Three Months Ended Year Ended December 31, December 31, 2024 2023 2024 2023 Operating expenses Research and development $ 25,671 $ 35,045 $ 144,101
Slide 19: Selected Condensed Consolidated Balance Sheet Data
Financial Update Selected Condensed Consolidated Balance Sheet Data (in thousands) (unaudited) December 31, 2024 December 31, 2023 Cash, cash equivalents and marketable securities $ 454,721 $ 578,106 Working capital") 443,752 558,079 Total assets 464,668 594,968 Total liabilities 25,801 39,776 Total
Slide 20: Business Update Q1 2025
Business Update Q1 2025 Reduction in Work Force Reduction of workforce by ~25% Action intended to enhance efficiency in management of infrastructure expenditures Expected cost savings of ~$15M through 2027 Enhancement of the Board of Directors Arthur S. Kirsch added to the Board Extensive financial
Slide 21: De-risked Phase 3 Program with Blockbuster Potential
De-risked Phase 3 Program with Blockbuster Potential 21
Slide 22: BEM/RZR Regimen De-Risked Phase 3 HCV Program for Multibillion-Dollar Market
BEM/RZR Regimen De-Risked Phase 3 HCV Program for Multibillion-Dollar Market Ready for Potential Best-In- Robust Phase 2 Large Market Long Patent Commercial-scale Class Treatment Results Opportunity Life Manufacturing Demonstrated very 98% cure rate after Fixed dose regimen ~$3B global net sales Ate
Slide 23: 225 Franklin Street Suite 2100 Boston MA USA 02110
225 Franklin Street Suite 2100 Boston MA USA 02110 www.ateapharma.com 23