Atea Pharmaceuticals Expands Board of Directors with Appointment of Barbara Duncan

Rhea-AI Summary

Atea Pharmaceuticals has appointed Barbara Duncan to its Board of Directors, where she will also serve as Chair of the Audit Committee. Duncan brings extensive financial and public company expertise, having held senior roles at various biopharmaceutical firms, including Chief Financial Officer at Intercept Pharmaceuticals. Her appointment comes at a crucial time as Atea transitions to a publicly traded company and aims to advance its antiviral pipeline, particularly the oral COVID-19 treatment, AT-527. This strategic leadership change is expected to enhance Atea's market navigation and therapeutic development efforts.

Positive

• Barbara Duncan brings extensive experience in biopharmaceuticals, enhancing Atea's leadership.
• Duncan's role as Chair of the Audit Committee strengthens financial governance.
• Her prior success in similar roles may positively influence Atea's market strategies.

Negative

• Transitioning to a publicly traded entity may introduce new operational challenges.
• Concerns about continuity due to recent management changes could impact investor confidence.

Experienced Financial Executive Brings Leadership and Public Company Expertise

BOSTON, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (“Atea”), a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing antiviral therapeutics to improve the lives of patients suffering from life-threatening viral infections, today announced the appointment of Barbara Duncan to its Board of Directors, where she will also serve as Chair of the Audit Committee.

“We are delighted to welcome Barbara to the Atea Board of Directors. Her financial acumen combined with her considerable experience advising a variety of biopharmaceutical companies will make Barbara’s guidance invaluable to Atea as we navigate the public markets and advance our antiviral pipeline,” said Jean-Pierre Sommadossi, Ph.D., Chief Executive Officer and Founder of Atea Pharmaceuticals.

"I am proud to join Atea at this critical juncture as the Company recently transitioned to a publicly traded entity," said Ms. Duncan. "Importantly, I am excited to be a part of the team working to make a difference in this global pandemic through the advancement of AT-527, an oral product candidate for the treatment of patients suffering from COVID-19.”

Ms. Duncan previously served as Chief Financial Officer and Treasurer at Intercept Pharmaceuticals. Prior to her leadership role with Intercept, Ms. Duncan was Chief Financial Officer and then Chief Executive Officer at DOV Pharmaceutical, which was sold to Euthymics Bioscience. Before that, she served as Vice President of Corporate Finance - Global Healthcare at Lehman Brothers and as Director of Corporate Finance at SBC Warburg Dillon Read. Ms. Duncan currently serves on the Board of Directors of Adaptimmune Therapeutics, Fusion Pharmaceuticals, Jounce Therapeutics, ObsEva SA, and OVID Therapeutics.

Ms. Duncan received an M.B.A. from the Wharton School, University of Pennsylvania and a B.S. from Louisiana State University.

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, hepatitis C virus (HCV) infection, dengue virus, 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

Who is Barbara Duncan and what is her role at Atea Pharmaceuticals?

Barbara Duncan has been appointed to the Board of Directors at Atea Pharmaceuticals and will serve as Chair of the Audit Committee, bringing extensive biopharmaceutical experience.

What is AT-527 and its significance for Atea Pharmaceuticals?

AT-527 is Atea's oral product candidate aimed at treating COVID-19, and its advancement is crucial for the company's response to the pandemic.

What impact does Barbara Duncan's appointment have on Atea's future?

Duncan's financial acumen and experience in biopharmaceuticals are expected to enhance Atea's strategic direction and public market navigation.

What challenges might Atea Pharmaceuticals face as it transitions to a publicly traded company?

Atea may encounter operational challenges and investor confidence concerns due to recent management changes during its transition to a public entity.