Atea Pharmaceuticals, a clinical stage biotech developing therapies for COVID-19 and other viral infections, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Atea Pharmaceuticals is developing antiviral therapeutics for life-threatening viral infections. The company has built a proprietary purine nucleotide prodrug platform to develop novel product candidates to treat single stranded ribonucleic acid, or ssRNA, viruses, which are a prevalent cause of severe viral diseases. The company's most advanced candidate, AT-527, is currently in a Phase 2 trial in approximately 190 adult patients with moderate COVID-19, with topline data expected in the 1H21.
The Boston, MA-based company was founded in 2014 and plans to list on the Nasdaq under the symbol AVIR. J.P. Morgan, Morgan Stanley, Evercore ISI and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
