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Atea Pharmaceuticals Secures Credit Facility for Up to $200 Million from Hercules Capital

  • Atea Pharmaceuticals entered a credit facility agreement with Hercules Capital for up to $200 million to strengthen its financial position & support expansion of commercial activities.
  • The company received $65 million at closing, with potential access to an additional $135 million subject to specific clinical, regulatory, & commercial milestones.
  • CEO Jean-Pierre Sommadossi anticipates top-line results from the C-FORWARD Phase 3 trial in early 2027 & an NDA submission to the FDA in mid-2027.
  • The facility includes a 60-month maturity with a 48-month interest-only period that may extend to 60 months upon achieving a specified commercial milestone.
  • Atea expects its current cash of $219.5 million plus the initial $65 million to fund operations into mid-2028, potentially extending to profitability with additional borrowings.
  • The BEM/RZR regimen demonstrated non-inferiority to Epclusa in the C-BEYOND Phase 3 trial & is being evaluated for an 8-week or 12-week oral treatment duration depending on cirrhosis status.
  • Morgan Stanley served as the exclusive financial advisor on the credit facility transaction.
Company
Atea Pharmaceuticals, Inc.
Keywords
Nasdaq:AVIR, Atea Pharmaceuticals, Inc.