Summary
- Atea Pharmaceuticals intends to raise $253 million in a U.S. IPO of its common stock.
- The firm is developing treatments for virus-borne diseases such as Covid-19 and Hepatitis C.
- AVIR has shown positive safety trial results for its Covid-19 treatment, but we won't have efficacy data until 1H 2021.
- The IPO is priced far higher than the typical range for clinical biopharma firms at IPO, so I'll watch it from the sidelines.
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Quick Take
Atea Pharmaceuticals (AVIR) has filed to raise $253 million in an IPO of its common stock, according to an S-1 registration statement.
The company is a clinical stage biopharma developing therapeutics for virus-borne diseases such as Covid-19 and others.
AVIR has produced positive safety trial results but the IPO appears excessively valued, so I'll pass on the IPO.
Company & Technology
Boston, Massachusetts-based Atea was founded to develop treatments for virus-borne diseases such as Hepatitis C, Dengue and more recently Covid-19.
Management is headed by founder, president, CEO and Chairman Jean-Pierre Sommadossi, Ph.D., who was previously co-founder at Idenix Pharmaceuticals.
Below is a brief overview video of Hepatitis C:
