AVIR 8-K SEC Filing Analysis

Final — all horizons settled through T+60d ⚠ clustered

AVIR ▼ -25.64% at T+60d

NEUTRAL call ✗ call lost -25.64% · α vs SPY -38.42% · entry $5.89 → $4.38

Last close $4.32 (close Jun 8) · -26.66% from $5.89 entry

Entry anchored
Mar 5, 03:59 PM ET
via Databento tick

T+1d

+4.41%

call +4.41% · α +3.57%

$6.15

settled 3mo ago

T+5d

+3.57%

call +3.57% · α +5.09%

$6.10

settled 3mo ago

T+20d

-0.34%

call -0.34% · α +1.70%

$5.87

settled 2mo ago

T+60d

-25.64%

call -25.64% · α -38.42%

$4.38

settled 9d ago

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Executive Summary

Atea Pharmaceuticals reported financial results for Q4 and full year 2025, highlighting continued advancement of its Phase 3 HCV program and expansion into a new Hepatitis E virus (HEV) program. The company reported a net loss of $158.3 million for the year, with R&D expenses increasing to $148.0 million, while cash and investments declined to $301.8 million from $454.7 million in 2024.

Key Financial Metrics

EPS

$-1.94

Actionable Insight

Monitor upcoming topline data from the C-BEYOND trial (mid-2026) and C-FORWARD trial (year-end 2026) as key catalysts. The cash burn rate suggests potential need for financing before late 2027, assuming no near-term revenue generation.

Key Facts

Net loss for full year 2025 was $158.3 million, compared to $168.4 million in 2024
Research and development expenses increased to $148.0 million in 2025 from $144.1 million in 2024
Cash and investments declined to $301.8 million as of December 31, 2025, from $454.7 million as of December 31, 2024
C-BEYOND Phase 3 trial enrollment completed in December 2025 with over 880 patients; topline results expected mid-2026
C-FORWARD Phase 3 trial enrollment expected to complete mid-2026; topline results anticipated year-end 2026
Company selected AT-587 as lead candidate for HEV program; clinical development expected to begin mid-2026

Financial Impact

Cash position decreased by $152.9 million year-over-year, while R&D spending increased by $3.9 million despite winding down of COVID-19 program

cashr&d expensesnet loss

Risk Factors

High cash burn rate with $301.8 million in cash as of December 2025, raising potential future dilution concerns
Clinical trial delays or negative results in Phase 3 HCV program could significantly impact valuation
No revenue-generating products currently, with dependence on successful clinical development and regulatory approval

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001193125-26-093961
Document: d118938d8k.htm	0001193125-26-093961
Document: 0001193125-26-093961-index-headers.html	0001193125-26-093961
Document: 0001193125-26-093961-index.html	0001193125-26-093961
Document: 0001193125-26-093961.txt	0001193125-26-093961

4 reports for AVIR

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for AVIR — sortable, filterable
	Type				Now
May 12, 2026 28d ago	Press Release BEARISH ★ 5/10	$4.57 $4.15	▲ +9.19%	▲ +8.03%	$4.32 (+5.47%)
Apr 27, 2026 6w ago	DEFA14A NEUTRAL ★ 2/10	$5.58 $5.70	▲ +2.15%	▲ +0.46%	$4.32 (−22.58%)
Mar 5, 2026 13w ago	8-K NEUTRAL ★ 5/10	$5.89 $6.10	▲ +3.57%	▲ +5.09%	$4.32 (−26.66%)
Mar 5, 2026 13w ago	Press Release MIXED ★ 6/10	$5.89 $6.10	▲ +3.57%	▲ +5.09%	$4.32 (−26.66%)

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