Atea Pharmaceuticals, Inc. · NASDAQ:AVIR
Atea Pharmaceuticals — Q1 2026 Earnings Presentation
29 slides from Atea Pharmaceuticals's earnings presentation, May 12, 2026
Slide 1: Q1 2026 Financial and Business Update
Q1 2026 Financial and Business Update May 12, 2026
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: Focused Antiviral Pipeline with De-risked Phase 3 Program
Focused Antiviral Pipeline with De-risked Phase 3 Program Therapeutic/ Program Preclinical Phase 1 Phase 2 Phase 3 Milestone Indication Flaviviridae Hepatitis C Virus (HCV) Ph 3 C-BEYOND trial Fixed Dose Combination: (US / Canada) enrollment Bemnifosbuvir (BEM) completed (n=> 880); topline Nucleotid
Slide 4: BEM/RZR Potential Best-in-Class Regimen for Treatment of HCV
BEM/RZR Potential Best-in-Class Regimen for Treatment of HCV Target Profile
Slide 5: BEM/RZR: Potential Best-in-Class Treatment for HCV
BEM/RZR: Potential Best-in-Class Treatment for HCV First Head-to-Head Phase 3 Program in HCV Potential Best-in-Class Robust Phase 2 Results Phase 3 BEM / RZR vs. Treatment for HCV Achieved Primary Endpoints Active Comparator • HCV product candidate is regimen of • Phase 2 results (n=275) • Chronic H
Slide 6: Global Phase 3 Program
BEM/RZR Potential Best-in-Class Regimen for Treatment of HCV Global Phase 3 Program
Slide 7: Global HCV Phase 3 Program: C-BEYOND and C-FORWARD
Global HCV Phase 3 Program: C-BEYOND (US/Canada) and C-FORWARD (Outside North America) Open-label: BEM/RZR Regimen vs Active Comparator in Chronic HCV Patients Randomized (1:1) Chronic HCV, patients Non-Cirrhotic stratified by cirrhosis 8 weeks BEM/RZR FDC US / Canada Trial and genotype, HIV co- 1:1
Slide 8: On Track: Global HCV Phase 3 Program
On Track: Global HCV Phase 3 Program C-BEYOND C-FORWARD • ~120 sites in US and Canada • ~120 sites in 17 countries outside of North America • Enrollment completed n= >880 • Enrollment completion expected mid-2026 • Cirrhotic population target achieved • Topline results expected year-end 2026 • Topli
Slide 9: Phase 3 Endpoints, Patient Populations and Analyses
Phase 3 Endpoints, Patient Populations and Analyses C-BEYOND (US/Canada) C-FORWARD (Outside North America) Primary Efficacy SVR at Week 24 mITT population SVR at Week 24 PP population Endpoint Key Secondary SVR at Week 24 PP population SVR at Week 24 mITT population Efficacy Endpoint Modified Intent
Slide 10: BEM/RZR Test-and-Treat, Market Research and Commercial Readiness
BEM/RZR Test-and-Treat, Market Research and Commercial Readiness BEM/RZR Market Research
Slide 11: US New Chronic HCV Infections Continue to Increase
US New Chronic HCV Infections Continue to Increase Despite Availability of Curative Direct-Acting Antivirals Up to 4M People Estimated to be Infected in US 1 180,000 160,000 • Out of ~160,000 new chronic infections, 140,000 only ~85,000 treated annually2,3 Number of US Patients 120,000 100,000 • Mos
Slide 12: Annual New HCV Infections in US Exceed Treatments
Annual New HCV Infections in US Exceed Treatments Test-and-Treat Model of Care Can Expand Diagnosis and Treatment HCV Infections Growing Faster Than Treated Expansion of Test-and-Treat Model Can Increase Patients in US Number of Patients Treated and Accelerate HCV Elimination In US TEST TREAT ~4 M ~
Slide 13: 2025 US HCV DAA Payer Landscape
2025 US HCV DAA Payer Landscape BEM/RZR High Likelihood to Be Added to Existing Formularies in All Payer Segments High Likelihood of BEM/RZR Being Added to Existing HCV Patients Getting Access From Formularies at Parity Net Pricing Across Payer All Payer Segments Segments2 HCV Prescriptions By Payer
Slide 14: Competitive Positions in the US DAA High Value HCV Market
Competitive Positions in the US DAA High Value HCV Market Different Payer Segments Drive Epclusa and Mavyret Prescriptions Payer Distribution by Product1 10% 56% 63% 54% ■ Medicaid ■ Medicare 18% 26% ■ Commercial 36% 26% 11% Mavyret Epclusa SOF/VEL (authorized copy of Epclusa) • High Proportion of M
Slide 15: Highly Attractive BEM/RZR Commercial Profile
Highly Attractive BEM/RZR Commercial Profile BEM/RZR Has Potential to Gain Significant Market Share 76% of High DAA Prescribers Extremely Likely to Prescribe BEM/RZR 1 48% Predicted Share of Non-Cirrhotic 49% Predicted Share of Compensated Patients2 Cirrhotic Patients2 15 1. Atea Custom Market Resea
Slide 16: BEM/RZR Commercial Readiness
BEM/RZR Commercial Readiness Commercial Launch Supply Manufacturing in Place & Marketing Planning Underway Commercial Supply Specialty Commercial Planning Launch Supply Following NDA Approval Concentrated Prescriber Base Sales & MSL Headcount ~75 • All components and processes for large • Specialty
Slide 17: New Program Hepatitis E Virus
New Program Hepatitis E Virus Product Candidate AT-587
Slide 18: Hepatitis E Virus (HEV) – an Acute and Chronic Liver Disease
Hepatitis E Virus (HEV) – an Acute and Chronic Liver Disease Significant Unmet Need for Patients with Chronic HEV Infection Who are Immunocompromised or at High Risk Waterborne transmission Foodborne transmission HEV HEV causes chronic hepatitis in causes epidemics of acute, GT 1,2 GT 3,4 immunocomp
Slide 19: Chronic HEV Infection Among Immunocompromised Individuals Can Rapidly Progress to Cirrhosis
Chronic HEV Infection Among Immunocompromised Individuals Can Rapidly Progress to Cirrhosis At-Risk Populations1 • Solid organ transplant recipients 15% of infected SOT recipients with chronic HEV rapidly develop cirrhosis in 3-5 years2 • Hematopoietic stem cell transplant (HSCT) recipients • Patien
Slide 20: Commercial Opportunity of $750M-$1B for the Treatment of HEV Infection
Commercial Opportunity of $750M-$1B* for the Treatment of HEV Infection Among High-Risk Populations in US & EU No Approved Treatment Annual number of at-risk populations Solid Organ Transplant Chronic HEV (SOT)1 Recipients ~80K Potential Treatment Commercial HSCT Recipients2 ~3%** Population of ~13.
Slide 21: AT-587: Potent Inhibition of Hepatitis E Virus Replication In Vitro
AT-587: Potent Inhibition of Hepatitis E Virus Replication In Vitro EC50 values in Huh7 HEV-3 Kernow-C1 p6/Gluc replicon cells Compound Mean ± SD (nM) AT-587 79.6 ± 29.2 (n=12) BEM 458.1 ± 140.7 (n=3) SOF 5,129 ± 985 (n=3) Ribavirin 12,551 ± 256 (n=3) Note: Antiviral activity of AT-587 confirmed in
Slide 22: AT-587 for HEV
AT-587 for HEV Preclinical Profile Supports Advancement to First-in-Human Study Cells AT-9010 (BEM) AT-9068 (AT-587) Human hepatocytes 1,360 3,920 • No inhibition of α, β, γ human DNA polymerases by active triphosphate (AT-9068) • Negative in GLP in vitro genetox assays (Ames, in vitro micronucleus)
Slide 23: AT-587: Human Pharmacokinetics Predicted to Achieve Drug Exposure Above In Vitro Activity
AT-587: Human Pharmacokinetics Predicted to Achieve Drug Exposure Above the In Vitro Antiviral Activity Predicted human plasma exposure of AT-587 and AT-2485 (the surrogate of the active intracellular triphosphate metabolite) after oral administration of 600 mg QD EC50 of AT-587 (100 ng/ml ~ 300 nM)
Slide 24: AT-587 First-in-Human Study
AT-587 First-in-Human Study Population: Design: Healthy adult Randomized, double-blind, placebo-controlled volunteers Part A Part B Single Ascending Dose (SAD) Multiple Ascending Dose (MAD) Up to 4 cohorts, sequentially Up to 3 cohorts, sequentially Objectives: evaluating increasing single evaluatin
Slide 25: Financial Update
Financial Update First Quarter 2026 Results
Slide 26: Financial Update
Financial Update 26 Condensed Consolidated Statement of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited) Three Months Ended March 31, 2026 2025 Operating expenses Research and development 41,134 $§$ 29,584 General and administrative 6,874 9,457 Total o
Slide 27: Financial Update
Financial Update 27 Selected Condensed Consolidated Balance Sheet Data (in thousands) (unaudited) March 31, 2026 December 31, 2025 Cash, cash equivalents and marketable securities $ 256,006 $ 301,830 Working capital) 229,830 271,207 Total assets 267,076 315,218 Total liabilities 33,367 39,784 Total
Slide 28: Upcoming Key Milestones Across Antiviral Pipeline
Upcoming Key Milestones Across Antiviral Pipeline BEM/RZR REGIMEN - PHASE 3 PROGRAM FOR HCV Ongoing Mid-2026 Year-end 2026 2027 Two Phase 3 Trials Topline Phase 3 results Completion of C-FORWARD Anticipated Q1 NDA submission (C-BEYOND and for C-FORWARD patient enrollment C-FORWARD) Topline Phase 3 r
Slide 29: 225 Franklin Street Suite 2100 Boston MA USA 02110
225 Franklin Street Suite 2100 Boston MA USA 02110 www.ateapharma.com