Roche Holdings AG (OTC:RHHBY) has ended a partnership with Atea pharmaceuticals Inc (NASDAQ:AVIR) to jointly develop a COVID-19 antiviral capsule, a month after the drug failed in a small analyze.
Roche and Atea teamed up ultimate yr to improve the oral medicine, AT-527, with Atea receiving an upfront price of $350 million.
The medicine didn't demonstrate an obvious discount in viral load within the common population of patients with light or reasonable COVID-19 in a mid-stage study in October.
The rights and licenses to AT-527 will return to Atea after the partnership ends in February.
Atea stated it might continue to advance the medication and expects facts from a late-stage trial in 2H of 2022.
Atea spoke of it had the economic resources to power ahead the late-stage trial independently. The business noted it held money and money equivalents of $839.7 million with a money runway via 2023.
price action: AVIR shares are down 14.50% at $9.71 all through the premarket session on the closing determine Wednesday.
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