Benzinga | Apr 29, 2021 06:44AM EDT

Atea Pharma Stock Is Trading Higher As AT-527 Study In COVID-19 Moves Forward With Dosing

* Atea Pharmaceuticals Inc (NASDAQ: AVIR) has dosed the first patient in the Phase 3 MORNINGSKY trial evaluating AT-527 in mild or moderate COVID-19 patients in an outpatient setting.

* The trial anticipates enrolling approximately 1,400 non-hospitalized adults and adolescents with mild to moderate COVID-19. Enrollment is underway.

* AT-527 is an orally administered, direct-acting antiviral in development and derived from Atea's purine nucleotide prodrug platform.

* Under a strategic collaboration, Roche Holdings AG (OTC:RHHBY) and Atea are jointly developing AT-527 to treat COVID-19.

* AT-527 targets SARS-CoV-2 ribonucleic acid (RNA) polymerase (nsp12), a highly conserved gene responsible for both viral RNA replication and transcription.

* The primary endpoint of the trial will measure the time to alleviation or improvement of COVID-19 symptoms. Other efficacy endpoints will include the number of patients requiring medically attended visits or hospitalization for COVID-19.

* Additionally, the study will also identify and evaluate biomarkers predictive of an antiviral response to AT-527.

* Price Action: AVIR shares are up 7.65% at $28.69 in the premarket trading on the last check Thursday.