Atea Pharmaceuticals, Inc. · NASDAQ:AVIR
Atea Pharmaceuticals — Q2 2026 Earnings Presentation
31 slides from Atea Pharmaceuticals's earnings presentation, Aug 12, 2026
Slide 1: Atea Q2 Financial and Business Update
Atea Q2 Financial and Business Update August 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 C-BEYOND Trial Met its Primary and Secondary Endpoints Program Indication Preclinical Phase 1 Phase 2 Phase 3 Milestone Flaviviridae Hepatitis C Ph 3 trial in US / Canada; BEM/RZR Virus (HCV) achieved non-inferiority to Regimen of C-BEYOND Tr
Slide 4: BEM/RZR First Ever Successful Phase 3 Trial in Global Head-to-Head Program
BEM/RZR First Ever Successful Phase 3 Trial in Global Head-to-Head Program C-BEYOND Ph 3 Topline Results 4
Slide 5: C-BEYOND Phase 3 Study: A Randomized, Active-Controlled, Non-inferiority Trial
C-BEYOND Phase 3 Study: A Randomized, Active-Controlled, Non-inferiority Trial Non-Cirrhotic 8 Weeks BEM/RZR FDC 1:1 12 Weeks SOF/VEL FDC Chronic HCV Patients Cirrhotic 12 Weeks BEM/RZR FDC 1:1 12 Weeks SOF/VEL FDC 0 8 12 20 24 36 W EEK S BEM/RZR = Bemnifosbuvir/Ruzasvir SOF/VEL = Sofosbuvir/Velpata
Slide 6: C-BEYOND: US & Canada Patient Populations and Analyses
C-BEYOND: US & Canada Patient Populations and Analyses North America Trial for US NDA Submission Primary SVR Week 24 Efficacy Endpoint mITT population* Secondary SVR Week 24 Efficacy Endpoint Per Protocol population MODIFIED INTENT-TO-TREAT (MITT) Population Patients administered at least one dose O
Slide 7: C-BEYOND Baseline Characteristics of mITT Patient Population
C-BEYOND Baseline Characteristics of mITT Patient Population Well Balanced Across Treatments Arms Characteristic BEM/RZR (N=451) SOF/VEL (N=454) All (N=905) Mean age, years (range) 51.1 51.7 51.4 (21-83) Male sex, n (%) 278 268 546 (60.3%) Mean body mass index (range) 29.13 28.59 28.86 (15.7-69.2) R
Slide 8: C-BEYOND Reflects HCV Patients in North America Today
C-BEYOND Reflects Patient Profiles in C-BEYOND in US/Canada: HCV Patients in North ≥ 55% America Today reported injection drug use as HCV route of transmission ~89% Regimen with Short at least one concomitant medication Duration & Low Risk ~66% of DDIs Needed for diagnosed with a psychiatric disorde
Slide 9: C-BEYOND Topline Results: Primary Efficacy Endpoint Met
C-BEYOND Topline Results: Primary Efficacy Endpoint Met Non-inferiority Achieved in mITT Population Non-inferiority comparison against SOF/VEL: -0.87% difference (95% CI: -4.32%, +2.59%)* 100% *Non-inferiority against SOF/VEL achieved as 93.91% 94.75% 95% CI lies entirely 80% above the non-inferiori
Slide 10: C-BEYOND Topline Results: SVR at Week 24 by Cirrhosis Status
C-BEYOND Topline Results: SVR at Week 24 by Cirrhosis Status* in mITT Population No Cirrhosis Compensated Cirrhosis 100% 100% 93.52% 94.58% 95.43% 95.42% 80% 80% SVR at Week 24 (%) SVR at Week 24 (%) 60% 60% 40% 40% 20% 20% N=360 N=361 N=91 N=93 0% 0% BEM/RZR SOF/VEL BEM/RZR SOF/VEL 8 wks 12 wks 12
Slide 11: C-BEYOND Topline Results: Safety Summary
C-BEYOND Topline Results: Safety Summary Generally Safe and Well Tolerated • Overall safety comparable between treatment arms • At least one treatment-emergent adverse event (TEAE) occurred in 220 patients (48.8%) BEM/RZR vs 240 patients (52.9%) SOF/VEL • Most TEAEs were mild to moderate and balance
Slide 12: Recent Studies/Analyses of Approved Regimens Have Lower ITT SVR Rates than Reported in Label
Recent Studies/Analyses of Approved Regimens Have Lower ITT* SVR Rates than Reported in Label 10 Years Ago SVR10K Study: HERO Study: Grand Plan Study: Integrated analysis: (Epclusa®) (Epclusa®) (Mavyret®) (Mavyret®) Real-world analysis of Optimal treatment Safety and efficacy of Efficacy and safety
Slide 13: C-BEYOND Topline Results Summary
C-BEYOND Topline Results Summary Primary Endpoint Met BEM/RZR was non-inferior to SOF/VEL in the mITT population* Secondary Endpoints Met BEM/RZR was also non-inferior to SOF/VEL in the PP population • SVR rates were similar regardless of cirrhosis status and robust across genotypes • Rates of virol
Slide 14: C-FORWARD: Patient Populations & Analyses Outside North America
C-FORWARD: Patient Populations & Analyses Outside North America Trial for Broad Pan-genotypic Label Efficacy Endpoint SVR Week 24 (Primary for EMA) Per-protocol population Efficacy Endpoint SVR Week 24 (Primary for FDA) mITT population PER-PROTOCOL Protocol compliant and at least 80% treatment adher
Slide 15: BEM/RZR Potential Best-in-Class Profile for Today's Patients
BEM/RZR Potential Best-in-Class Profile for Today’s Patients 15
Slide 16: BEM/RZR: Potential Best-in-Class Profile for HCV
BEM/RZR: Potential Best-in-Class Profile for HCV BEM/RZR: Next generation, pan-genotypic, fixed dose regimen • BEM: most potent HCV nucleotide, has been shown to be approximately 10-fold more active than sofosbuvir in in vitro studies; >3,200 individuals exposed to date • RZR: highly potent HCV NS5A
Slide 17: Drug-Drug Interaction Profile of BEM/RZR Regimen is a Key Differentiator
Drug-Drug Interaction Profile of BEM/RZR Regimen is a Key Differentiator -- ~80% of HCV Patients Take Concomitant Medications1 Healthcare Providers Prefer Therapies Convenient to Prescribe EPCLUSA® Drug BEM/RZR MAVYRET® SOF/VEL Oral Contraceptives2 Proton Pump Inhibitors3 Statins Immunosuppressants
Slide 18: Hepatitis C Virus US Market Opportunity, Test-and-Treat Model of Care, Market Research and Commercial Readiness
Hepatitis C Virus US Market Opportunity, Test-and-Treat Model of Care, Market Research and Commercial Readiness 18
Slide 19: 160K Annual HCV New Infections Exceed 85K Treated Patients in US
160K1 Annual HCV New Infections Exceed 85K Treated Patients in US Expansion of Test-and-Treat Expanding Pool of Diagnosed Untreated Model Can Increase Number of Patients Patients Treated and Advance HCV Elimination Goals ~75K • Rapid diagnosis and treatment at the same time Annual Untreated Diagnose
Slide 20: US HCV Market Dynamics Create a Clear Opportunity for BEM/RZR
US HCV Market Dynamics Create a Clear Opportunity for BEM/RZR Market Trends Opportunity for BEM/RZR ▪ New HCV infections continue to outpace the number ▪ Preference for short 8-week treatment duration for most of patients treated with current DAA therapies patients (without cirrhosis; 80-90% of the
Slide 21: 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 in US Extremely Likely to Prescribe BEM/RZR 1 48% Predicted Share of Non-Cirrhotic 49% Predicted Share of Compensated Patients2 Cirrhotic Patients2 21 21 1. Atea Custom Mar
Slide 22: BEM/RZR Uniquely Positioned to Capture More Diagnosed Patients and Grow Market
BEM/RZR Uniquely Positioned to Capture More Diagnosed Patients and Grow Market, Not Just Compete for Existing Share Currently, Only ~50% of People Diagnosed are Being Treated Annually in US ~$1.3B US US Market ~75K ~85K Total Net Annual Opportunity Annual New Patients Sales in 20253 Untreated ~$2.5B
Slide 23: BEM/RZR Represents a Significant US Commercial Opportunity
BEM/RZR Represents a Significant US Commercial Opportunity • In the US, new infections are outpacing cures each year by a widening margin, increasing the number of people infected >$700M • Up to 4 million people in the U.S. are infected with HCV and Peak Annual US Net remain untreated, representing
Slide 24: 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 25: HEV Program Update
HEV Program Update Phase 1 Underway 25
Slide 26: HEV: AT-587 First-in-Human Study Initiated in July 2026
HEV: AT-587 First-in-Human Study Initiated in July 2026 Design: Randomized, double-blind, placebo-controlled in healthy adult volunteers Objectives: Safety, tolerability and pharmacokinetics (PK) Part A Single Ascending Dose (SAD) Part B Multiple Ascending Dose (MAD) AT-587 or placebo (8:2) (QD or D
Slide 27: Second Quarter Financial Update 2026
Second Quarter Financial Update 2026 27
Slide 28: Financial Update
Financial Update Condensed Consolidated Statement of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Operating expenses Research and development $ 28,150 $ 32,275 $ 69,284 $ 61,
Slide 29: Financial Update
Financial Update Selected Condensed Consolidated Balance Sheet Data (in thousands) (unaudited) June 30, 2026 December 31, 2025 Cash, cash equivalents and marketable securities $ 219,465 $ 301,830 Working capital” 200,541 271,207 Total assets 232,282 315,218 Total liabilities 28,124 39,784 Total stoc
Slide 30: Milestones Across Potential First- or Best-in-Class Product Candidates
Milestones Across Potential First- or Best-in-Class Product Candidates 2026 2027 BEM/RZR REGIMEN PHASE 3 PROGRAM Ongoing Mid-2026 Early Q1 2027 Q2 2027 FOR HCV Phase 3 program ✓ Enrollment of C-FORWARD Topline Phase 3 Anticipated NDA (C-BEYOND and completed in June 2026 results for submission C-FORW
Slide 31: 225 Franklin Street Suite 2100 Boston, MA, USA 02110
225 Franklin Street Suite 2100 Boston, MA, USA 02110 www.ateapharma.com