Atea Pharmaceuticals Retains Financial Advisor to Explore Strategic Partnerships
Atea Pharmaceuticals (AVIR) has announced the engagement of Evercore, a global independent investment bank, to explore strategic opportunities aimed at enhancing shareholder value. The primary focus is on identifying potential strategic partnerships for their Phase 3-ready hepatitis C virus (HCV) treatment program. The company has not established a timeline for completing this review process and has not made any definitive decisions. Atea states it will not provide further updates until either the Board of Directors approves a specific course of action, the review concludes, or disclosure becomes necessary. The company emphasizes that there is no guarantee this process will lead to any specific transaction or outcome.
Atea Pharmaceuticals (AVIR) ha annunciato di aver ingaggiato Evercore, una banca d'investimento indipendente globale, per esplorare opportunità strategiche volte a migliorare il valore per gli azionisti. L'attenzione principale è rivolta all'identificazione di potenziali partnership strategiche per il loro programma di trattamento pronto per la fase 3 contro il virus dell'epatite C (HCV). L'azienda non ha stabilito una tempistica per completare questo processo di revisione e non ha preso decisioni definitive. Atea dichiara che non fornirà ulteriori aggiornamenti fino a quando il Consiglio di Amministrazione non approverà un corso d'azione specifico, la revisione non si concluderà, o non diventi necessario divulgare informazioni. L'azienda sottolinea che non ci sono garanzie che questo processo porterà a una transazione o a un risultato specifico.
Atea Pharmaceuticals (AVIR) ha anunciado el compromiso de Evercore, un banco de inversión independiente global, para explorar oportunidades estratégicas destinadas a mejorar el valor para los accionistas. El enfoque principal está en identificar posibles asociaciones estratégicas para su programa de tratamiento listo para la fase 3 contra el virus de la hepatitis C (HCV). La empresa no ha establecido un cronograma para completar este proceso de revisión y no ha tomado decisiones definitivas. Atea afirma que no proporcionará más actualizaciones hasta que el Consejo de Administración apruebe un camino específico, la revisión concluya o la divulgación se vuelva necesaria. La compañía enfatiza que no hay garantía de que este proceso conduzca a una transacción o resultado específico.
Atea Pharmaceuticals (AVIR)는 주주 가치를 높이기 위한 전략적 기회를 탐색하기 위해 글로벌 독립 투자은행인 Evercore를 참여시키겠다고 발표했습니다. 주요 초점은 3상 준비 완료된 간염 C 바이러스(HCV) 치료 프로그램을 위한 잠재적인 전략적 파트너십을 식별하는 것입니다. 회사는 이 검토 프로세스를 완료하기 위한 일정을 정하지 않았으며, 확정적인 결정을 내리지 않았습니다. Atea는 이사회가 특정 행동 방침을 승인하거나, 검토가 완료되거나, 정보 공개가 필요해질 때까지 추가 업데이트를 제공하지 않겠다고 밝혔습니다. 이 과정이 특정 거래나 결과로 이어질 것이라는 보장은 없다고 강조했습니다.
Atea Pharmaceuticals (AVIR) a annoncé l'engagement de Evercore, une banque d'investissement indépendante mondiale, pour explorer des opportunités stratégiques visant à améliorer la valeur pour les actionnaires. L'accent principal est mis sur l'identification de partenariats stratégiques potentiels pour leur programme de traitement prêt pour la phase 3 contre le virus de l'hépatite C (HCV). La société n'a pas établi de calendrier pour compléter ce processus de révision et n'a pris aucune décision définitive. Atea déclare qu'elle ne fournira pas d'autres mises à jour jusqu'à ce que le conseil d'administration approuve une action spécifique, que la révision se termine ou que la divulgation devienne nécessaire. L'entreprise souligne qu'il n'y a aucune garantie que ce processus aboutisse à une transaction ou un résultat spécifique.
Atea Pharmaceuticals (AVIR) hat die Beauftragung von Evercore, einer globalen unabhängigen Investmentbank, bekannt gegeben, um strategische Möglichkeiten zur Steigerung des Aktionärswerts zu erkunden. Der Schwerpunkt liegt darauf, potenzielle strategische Partnerschaften für ihr behandlungsbereites Phase-3-Programm gegen das Hepatitis-C-Virus (HCV) zu identifizieren. Das Unternehmen hat keinen Zeitrahmen für den Abschluss dieses Überprüfungsprozesses festgelegt und keine endgültigen Entscheidungen getroffen. Atea gibt an, dass keine weiteren Aktualisierungen bereitgestellt werden, bis entweder der Vorstand einen spezifischen Handlungsverlauf genehmigt, die Überprüfung abgeschlossen ist oder eine Offenlegung erforderlich wird. Das Unternehmen betont, dass es keine Garantie dafür gibt, dass dieser Prozess zu einer bestimmten Transaktion oder einem bestimmten Ergebnis führen wird.
- Engagement of reputable investment bank Evercore signals serious commitment to exploring value-creation opportunities
- Phase 3-ready status of HCV program indicates advanced development stage, potentially attractive for partnerships
- Uncertainty about the outcome of the strategic review process
- No timeline set for conclusion of the review
Insights
The engagement of Evercore signals a pivotal strategic shift for Atea Pharmaceuticals, particularly regarding its Phase 3-ready HCV program. With a market cap of
The strategic review focuses on Atea's Phase 3-ready HCV program, which represents a significant milestone in the company's pipeline. The HCV treatment landscape, while competitive, still has room for innovation, particularly in oral antivirals. A strategic partnership could provide the necessary resources and expertise to advance the program through costly Phase 3 trials and potential commercialization. This move suggests the company is taking a pragmatic approach to resource allocation and risk management in drug development. The decision to explore partnerships now, with a Phase 3-ready asset, could maximize negotiating leverage and potentially lead to more favorable deal terms.
BOSTON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (Atea or Company), a clinical-stage biopharmaceutical company engaged in the discovery and development of oral antiviral therapeutics for serious viral diseases, today announced that it has engaged Evercore, a global independent investment bank, to identify potential opportunities to enhance shareholder value, including the exploration of strategic partnerships related to its Phase 3-ready program for the treatment of hepatitis C virus (HCV).
The Company has not set a timetable for the conclusion of its review and has not made any decisions at this time. The Company does not intend to comment further with respect to this review unless or until its Board of Directors has approved a definitive course of action, the review process has concluded, or it is determined that other disclosure is appropriate.
There is no assurance that this process will result in the completion of any specific transaction or outcome.
About Atea Pharmaceuticals
Atea is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral antiviral therapies to address the unmet medical needs of patients with serious viral infections. Leveraging Atea’s deep understanding of antiviral drug development, nucleos(t)ide chemistry, biology, biochemistry and virology, Atea has built a proprietary nucleos(t)ide prodrug platform to develop novel product candidates to treat single stranded ribonucleic acid, or ssRNA, viruses, which are a prevalent cause of serious viral diseases. Atea plans to continue to build its pipeline of antiviral product candidates by augmenting its nucleos(t)ide platform with other classes of antivirals that may be used in combination with its nucleos(t)ide product candidates. Our lead program and current focus is on the development of the combination of bemnifosbuvir, a nucleotide analog polymerase inhibitor and ruzasvir, an NS5A inhibitor, to treat hepatitis C virus. For more information, please visit www.ateapharma.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include but are not limited to statements regarding Atea’s exploration of potential strategic partnerships related to its HCV program and the development of the combination of bemnifosbuvir and ruzasvir for the treatment of HCV. When used herein, words including “will,” “plans”, and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Atea’s current expectations and various assumptions. Atea believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Atea may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, the timeline for the completion of the strategic alternatives review process is unknown and there can be no assurance that the process will result in any particular outcome; dependence on the success of Atea’s most advanced product candidates, in particular the combination of bemnifosbuvir and ruzasvir for the treatment of hepatitis C; as well as the other important factors discussed under the caption “Risk Factors” in Atea’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 as such factors may be updated from time to time in its other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While Atea may elect to update such forward-looking statements at some point in the future, except as required by law, it disclaims any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing Atea’s views as of any date subsequent to the date of this press release.
Contacts
Jonae Barnes
SVP, Investor Relations and Corporate Communications
617-818-2985
Barnes.jonae@ateapharma.com
Will O’Connor
Precision AQ
212-362-1200
will.oconnor@precisionaq.com
FAQ
What is the purpose of Atea Pharmaceuticals (AVIR) engaging Evercore?
When will Atea Pharmaceuticals (AVIR) complete its strategic review process?
What stage is Atea Pharmaceuticals' (AVIR) HCV treatment program currently in?