By Chris Wack

Atea Pharmaceuticals Inc. said it has achieved a milestone associated with the development of AT-527, and expects to receive a related payment under its license agreement with Roche of $50 million.

Under the license agreement, Roche and Atea are jointly developing AT-527 for the treatment of Covid-19.

AT-527 is an orally administered, direct-acting antiviral developmental agent derived from Atea's purine nucleotide pro-drug platform, and it is in Phase 3 development for the treatment of Covid-19, Atea said.

Atea retains rights to commercialize AT-527 in the U.S., and Roche has the exclusive right to commercialize AT-527 outside the U.S.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

June 16, 2021 07:41 ET (11:41 GMT)

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