Atea Pharmaceuticals Added to Russell 2000 Index

Rhea-AI Summary

Atea Pharmaceuticals (Nasdaq: AVIR) has been added to the Russell 2000 Index, effective December 21, 2020. This inclusion is part of the index's quarterly IPO additions and is expected to broaden the company's investor base and increase awareness of its antiviral therapies, especially AT-527 for COVID-19 treatment. The Russell indexes, benchmarked by around $9 trillion in assets, are crucial for investment managers and institutional investors.

Positive

• Inclusion in the Russell 2000 Index can enhance visibility and attract a broader investor base.
• Focus on developing novel antiviral therapies, including promising candidates for COVID-19.

Negative

• None.

BOSTON, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (“Atea”), a clinical-stage biopharmaceutical company, today announced that it has been added to the Russell 2000^® Index, effective December 21, 2020, as part of the index's quarterly initial public offering (IPO) additions.

"We are pleased to be added to the Russell 2000 Index, which will help to broaden our investor base and increase awareness of our Company's mission of discovering, developing and commercializing therapies to address the unmet medical needs of patients with life-threatening viral diseases," said Jean-Pierre Sommadossi, Ph.D., Founder and Chief Executive Officer of Atea Pharmaceuticals. "In particular, we look forward to expanding visibility of our novel antiviral product candidates, including AT-527 for the treatment of COVID-19, and our proprietary purine nucleotide prodrug platform to the investment community."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 2000 Index and the Russell indexes IPO additions, please visit the "Russell U.S. Index IPO Additions" section on the FTSE Russell website.

About Atea Pharmaceuticals

Atea Pharmaceuticals is a clinical stage biopharmaceutical company focused on discovering, developing and commercializing therapies to address the unmet medical needs of patients with life-threatening viral diseases. Leveraging the Company’s deep understanding of antiviral drug development, nucleoside biology, and medicinal chemistry, Atea has built a proprietary purine nucleotide prodrug platform to develop novel product candidates to treat single stranded ribonucleic acid, or ssRNA, viruses, which are a prevalent cause of severe viral diseases. 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, dengue virus, hepatitis C virus (HCV) and respiratory syncytial virus (RSV). For more information, please visit www.ateapharma.com.

Contacts

Investors:
Will O’Connor
Stern Investor Relations
212-362-1200
will.oconnor@sternir.com

Media:
Carol Guaccero
301-606-4722
contactus@ateapharma.com

FAQ

What is the significance of Atea Pharmaceuticals being added to the Russell 2000 Index?

Inclusion in the Russell 2000 Index enhances Atea's visibility and broadens its investor base, which can positively impact its stock performance.

When will Atea Pharmaceuticals be officially added to the Russell 2000 Index?

Atea Pharmaceuticals will be added to the Russell 2000 Index effective December 21, 2020.

What is AT-527 developed by Atea Pharmaceuticals?

AT-527 is a novel antiviral product candidate developed by Atea Pharmaceuticals for the treatment of COVID-19.

How much capital is benchmarked against Russell indexes?

Approximately $9 trillion in assets are benchmarked against Russell's US indexes.