4. Atea Pharmaceuticals

(Atea Pharmaceuticals)

4. Atea Pharmaceuticals
Deal size: $300 million
Valuation: $1.9 billion
Share price: $24.00
Shares sold: 14,375,000

Another biotech whose COVID-19 research boosted its attractiveness, Atea nabbed $300 million in its IPO, with a big chunk of that going toward its investigational COVID-19 drug AT-527 for late-stage studies. This drug also has the backing of Swiss major Roche, which in the fall of last year penned a deal to jointly develop, manufacture and distribute AT-527, an oral small molecule that interferes with the RNA of several viruses.

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Atea Pharmaceuticals

It was a good financial year for Atea, which not only nabbed that $300 million IPO, but also a $215 million series D in May—and that Roche pact came with a major $350 million upfront. Atea and Roche plan to start a phase 3 trial in non-hospitalized patients in the first quarter. Roche foresees AT-527 being used to treat patients early, perhaps even in post-exposure prophylactic settings.

4. Atea Pharmaceuticals