Atea Shares Fall 75% After Covid-19 Trial Misses Objective
October 19 2021 - 8:56AM
Dow Jones News
By Michael Dabaie
Atea Pharmaceuticals Inc. shares dropped 75% to $10.31 in
premarket trading after the company said the phase 2 Moonsong trial
of AT-527 didn't meet its primary endpoint in the overall
population of patients with mild or moderate Covid-19.
The company also said it is assessing potential modifications to
the global phase 3 Morningsky trial, which will delay data from the
study.
Atea said the Moonsong study didn't meet the primary endpoint of
reduction from baseline in the amount of SARS-CoV-2 virus in
patients with mild or moderate Covid-19 compared with a placebo in
the overall study population. About two-thirds of patients were
low-risk with mild symptoms.
However, it said that in high-risk patients with underlying
health conditions, a reduction of viral load of about 0.5 log(10)
at day 7 was observed at 550 mg for the prespecified subgroup
analysis and 1,100 mg BID for the exploratory subgroup analysis
compared with placebo.
Atea and its partner Roche Holding AG are assessing potential
modifications to the global phase 3 Morningsky trial, including the
trial's primary endpoint and patient population. The company said
it now anticipates phase 3 Morningsky data in the second half of
2022 instead of the second half of 2021.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 19, 2021 08:41 ET (12:41 GMT)
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