Atea Pharmaceuticals, Inc. (AVIR)
NASDAQ:AVIR
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Atea Pharmaceuticals
(NASDAQ:AVIR)
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Rating:49Neutral
Price Target:
$4.50
▼(-21.60% Downside)
Action:Reiterated
Date:05/14/26
AVIR scores below average primarily due to weak current financial performance (zero revenue, large losses, and substantial cash burn) and bearish technicals (below major moving averages with negative MACD). These are partially offset by a positive earnings-call outlook with multiple 2026 Phase 3 catalysts and a solid near-term cash position (runway through 2027), while valuation is difficult to assess given negative earnings and no dividend support.
Positive Factors
Phase‑3 momentum and trial design
Near‑term, well‑powered Phase‑3 programs reduce binary development risk and increase the likelihood of regulatory submissions. Completed/near‑complete enrollment and clear primary endpoints support predictable timelines and a credible path to approval and commercialization over the next 6–18 months.
Negative Factors
Zero revenue and persistent losses
No commercial revenue means operations depend on financing or partnerships; persistent high net losses and negative free cash flow increase dilution risk and constrain reinvestment capacity. Over months, this elevates execution risk if clinical milestones slip or funding terms worsen.
Read all positive and negative factors
Positive Factors
Negative Factors
Phase‑3 momentum and trial design
Near‑term, well‑powered Phase‑3 programs reduce binary development risk and increase the likelihood of regulatory submissions. Completed/near‑complete enrollment and clear primary endpoints support predictable timelines and a credible path to approval and commercialization over the next 6–18 months.
Read all positive factors
Atea Pharmaceuticals (AVIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$373.73M
Dividend YieldN/A
Average Volume (3M)324.34K
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue GrowthN/A
EPS Growth-28.75%
CountryUS
Employees56
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.11
Shares Outstanding80,027,100
10 Day Avg. Volume368,036
30 Day Avg. Volume324,338
Financial Highlights & Ratios
PEG Ratio0.61
Price to Book (P/B)1.06
Price to Sales (P/S)0.00
P/FCF Ratio-2.20
Enterprise Value/Market Cap0.79
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-116.94
Enterprise Value/Ebitda-1.59
Forecast
1Y Price Target
$8.00Price Target Upside39.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-1.93
Revenue Forecast (FY)N/A
Atea Pharmaceuticals Business Overview & Revenue Model
Company Description
Atea Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focused on discovering, developing, and commercializing antiviral therapeutics for patients suffering from viral infections. Its lead product candidate is AT-527, an antiviral...
How the Company Makes Money
Atea does not have a broadly established, recurring commercial revenue stream from marketed products; as a clinical-stage biotech, its activities are primarily funded through financing and, when applicable, collaboration-related payments. To the e...
Atea Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call presents a largely positive outlook driven by strong operational progress: completed enrollment for the U.S. Phase 3 (C‑BEYOND), near‑complete enrollment ex‑U.S. (C‑FORWARD), a well‑powered trial design (90% power, 5% non‑inferiority), an advancing HEV program (CTA enabling studies done, FIH mid‑year), clear prescriber interest, manufacturing readiness, and $256M in cash with runway through 2027. Key risks include a limited cash runway beyond 2027, higher R&D spend, regulatory complexity (different primary analysis populations for FDA vs EMA), payer and market access uncertainties, and clinical/regulatory risk for the novel HEV program. On balance, operational milestones and program momentum outweigh the noted risks.Positive Updates
C-BEYOND Enrollment Completed and Imminent Top-Line Data
Completed patient enrollment for C-BEYOND in North America with >880 patients; top-line SVR24 (primary endpoint) results expected mid-2026; trial is randomized 1:1 vs the standard of care (Epclusa).
Negative Updates
Limited Cash Runway Beyond 2027
While cash was $256M at 03/31/2026 and runway is projected through 2027, the company may require additional financing to support commercialization, prolonged launch activities, or further development beyond that point.
Read all updates
Q1-2026 Updates
Positive
Negative
C-BEYOND Enrollment Completed and Imminent Top-Line Data
Completed patient enrollment for C-BEYOND in North America with >880 patients; top-line SVR24 (primary endpoint) results expected mid-2026; trial is randomized 1:1 vs the standard of care (Epclusa).
Read all positive updates
Company Guidance
Atea guided that 2026 will be catalyst‑rich: top‑line Phase 3 readouts are expected from C‑BEYOND (completed enrollment of >880 patients) mid‑2026 and from C‑FORWARD (95% of cirrhotic/non‑cirrhotic enrollment complete; remaining enrollment open to genotypes 4/5/6; expected to finish enrollment mid‑year) around year‑end; both randomized 1:1 vs Epclusa with SVR24 as the primary endpoint (C‑BEYOND analyzed in MITT per FDA, C‑FORWARD in per‑protocol per EMA), studies are powered at 90% with a 5% non‑inferiority margin and ~95% expected SVR in MITT. Financially, Atea held $256M in cash and marketable securities as of 3/31/2026 with a cash runway through 2027 and plans the bulk of 2026 spend on HCV Phase 3 and HEV programs; AT‑587 (HEV) has completed CTA‑enabling GLP tox, first‑in‑human (SAD/MAD with a 7‑day MAD) is planned mid‑year with a proof‑of‑concept ~year‑end (anticipated 12‑week POC, expandable to 24 weeks), chronic tox ongoing (6‑month rat, 9‑month monkey), and the HEV addressable market was estimated at $750M–$1B annually. Commercial assumptions noted: U.S. HCV market ≈$1.3B of a $2.6B global market, Medicaid >50% of DAA volume, ~7.8K prescribers write ~80% of scripts, IQVIA research of 153 high prescribers indicated ~50% of patients would be prescribed BEM‑RZR, and packaging/manufacturing are in place to support launch.Atea Pharmaceuticals Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
70
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 351.37M |
| Gross Profit | -2.52M | 0.00 | -83.37M | -70.09M | -62.39M | 184.16M |
| EBITDA | -185.80M | -180.47M | -131.80M | -119.59M | -110.84M | 138.41M |
| Net Income | -169.52M | -158.35M | -168.38M | -135.96M | -115.91M | 121.19M |
Balance Sheet | ||||||
| Total Assets | 267.08M | 315.22M | 464.67M | 594.97M | 666.71M | 772.89M |
| Cash, Cash Equivalents and Short-Term Investments | 256.01M | 301.83M | 454.72M | 578.11M | 646.71M | 764.38M |
| Total Debt | 634.00K | 843.00K | 1.64M | 2.40M | 3.12M | 197.00K |
| Total Liabilities | 33.37M | 39.78M | 25.80M | 39.78M | 26.14M | 62.81M |
| Stockholders Equity | 233.71M | 275.43M | 438.87M | 555.19M | 640.57M | 710.08M |
Cash Flow | ||||||
| Free Cash Flow | -147.86M | -132.03M | -135.50M | -85.39M | -122.92M | -87.01M |
| Operating Cash Flow | -147.86M | -132.03M | -135.50M | -85.39M | -120.98M | -87.00M |
| Investing Cash Flow | 132.92M | 188.79M | 56.10M | 40.30M | -455.41M | -4.00K |
| Financing Cash Flow | -25.14M | -25.75M | 267.00K | 257.00K | 370.00K | 1.47M |
Atea Pharmaceuticals Technical Analysis
Negative
5.74
Price Trends
5.30
Negative
4.89
Negative
4.05
Positive
Market Momentum
-0.26
Negative
43.60
Neutral
88.53
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AVIR, the sentiment is Negative. The current price of 5.74 is above the 20-day moving average (MA) of 4.85, above the 50-day MA of 5.30, and above the 200-day MA of 4.05, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 43.60 is Neutral, neither overbought nor oversold. The STOCH value of 88.53 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AVIR.
Atea Pharmaceuticals Risk Analysis
Atea Pharmaceuticals disclosed 83 risk factors in its most recent earnings report. Atea Pharmaceuticals reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Atea Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $391.43M | -6.38 | -20.31% | ― | 8.21% | 21.41% | |
54 Neutral | $251.78M | -7.86 | -68.09% | ― | 56.76% | 63.33% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $373.73M | -2.18 | -57.01% | ― | ― | -28.75% | |
45 Neutral | $166.47M | -3.13 | -86.47% | ― | -23.73% | -44.36% | |
44 Neutral | $164.69M | -5.33 | -1115.29% | ― | 1.48% | -244.25% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.