By Michael Dabaie

 

Atea Pharmaceuticals Inc. shares dropped 75% to $10.31 in premarket trading after the company said the phase 2 Moonsong trial of AT-527 didn't meet its primary endpoint in the overall population of patients with mild or moderate Covid-19.

The company also said it is assessing potential modifications to the global phase 3 Morningsky trial, which will delay data from the study.

Atea said the Moonsong study didn't meet the primary endpoint of reduction from baseline in the amount of SARS-CoV-2 virus in patients with mild or moderate Covid-19 compared with a placebo in the overall study population. About two-thirds of patients were low-risk with mild symptoms.

However, it said that in high-risk patients with underlying health conditions, a reduction of viral load of about 0.5 log(10) at day 7 was observed at 550 mg for the prespecified subgroup analysis and 1,100 mg BID for the exploratory subgroup analysis compared with placebo.

Atea and its partner Roche Holding AG are assessing potential modifications to the global phase 3 Morningsky trial, including the trial's primary endpoint and patient population. The company said it now anticipates phase 3 Morningsky data in the second half of 2022 instead of the second half of 2021.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

October 19, 2021 08:41 ET (12:41 GMT)

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