Atea Pharma has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering. The company intends to price its 11.0 million shares in the range of $22 to $24, with an overallotment option for an additional 1.65 million shares. At the maximum price, the entire offering is valued up to $303.6 million. The company intends to list its shares on the Nasdaq under symbol AVIR.
The underwriters for the offering are Evercore ISI, JPMorgan, Morgan Stanley and William Blair.
This clinical-stage biopharmaceutical company is focused on discovering, developing and commercializing antiviral therapeutics to improve the lives of patients suffering from life-threatening viral infections. It is leveraging its deep understanding of antiviral drug development, nucleoside biology and medicinal chemistry, with its proprietary purine nucleotide prodrug platform to develop novel product candidates to treat single-stranded ribonucleic acid viruses.
Currently, Atea is focused on the development of orally available, potent and selective nucleotide prodrugs for difficult-to-treat, life-threatening viral infections, including severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19, as well as the hepatitis C virus (HCV), dengue virus and respiratory syncytial virus (RSV).
All the product candidates have been discovered and developed internally, and Atea retains full global rights to commercialize its product candidates, other than certain ex-U.S. rights licensed to Roche under a recent license agreement. The firm retains the right to commercialize all its product candidates in the United States.
The company intends to use the net proceeds from this offering to advance the development of its AT-527 program for the treatment of COVID-19 through Phase 3 clinical trials. The remainder will be used for the further development of the rest of its pipeline (HCV and RSV), as well as for working capital and general corporate purposes.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.