Atea Pharma Shares Drop 16% After Collaboration With Roche Terminated
November 17 2021 - 10:26AM
Dow Jones News
By Chris Wack
Atea Pharmaceuticals Inc. shares fell 16% to $9.53 after the
company said its strategic collaboration with Roche to develop
AT-527 to treat Covid-19 is ending in February.
The biopharmaceutical company said the rights and licenses
granted to Roche will be returned to Atea, which will have full
rights to continue the clinical development and future
commercialization of AT-527 worldwide.
Atea said that as of Sept. 30 it had cash and cash equivalents
of $839.7 million, with a cash runway through 2023.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 17, 2021 10:11 ET (15:11 GMT)
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