Shares of Atea Pharmaceuticals Inc. were trading over 18% higher in the after-hours market Monday, following the company’s release of fourth-quarter financial results and news of upcoming drug trials.
At 6:04 p.m. ET, the company’s shares
were trading 18.3% higher, at $7.50 per share. The stock finished the regular session with a 0.47% loss, closing at $6.34.
After the bell, Atea reported fourth-quarter earnings per share of $1.34 on revenue of $192.2 million. In the year-ago period, the company reported EPS of 25 cents on revenue of $48.6 million.
The company said it was progressing to a Phase 2 combination clinical trial of bemnifosbuvir as part of a combination therapy for Covid-19 in the second half of this year. Atea also said it was initiating a Phase 2 combination clinical trial of bemnifosbuvir and ruzasvir for hepatitis C virus in the second half of this year. Also, the company said it is advancing AT-752 as a potential first antiviral treatment for dengue fever in a Phase 2 program in the first half of this year.
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