Atea Pharmaceuticals, Inc. (AVIR)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Atea Pharmaceuticals, Inc. (“Atea” or the “Company”) (NASDAQ: AVIR). Investors who purchased Atea shares are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Atea and certain of its officers and/or directors have violated federal securities laws.
On October 19, 2021, Atea issued a press release “report[ing] that the global Phase 2 MOONSONG trial evaluating AT-527 in the outpatient setting did not meet the primary endpoint of reduction from baseline in the amount of SARS-CoV-2 virus in patients with mild or moderate COVID-19 compared to placebo in the overall study population, of which approximately two thirds of patients were low-risk with mild symptoms.” Accordingly, Atea stated that it was “assessing potential modifications to the global Phase 3 MORNINGSKY trial including the trial’s primary endpoint and patient population.” On this news, Atea’s stock price fell $26.80 per share, or 65.98%, to close at $13.82 per share on October 19, 2021. Then, on January 6, 2022, Morgan Stanley lowered its recommendation for Atea stock to Underweight from Equal-Weight, citing a lackluster market potential for AT-527 and opining that the product candidate “has missed the critical window to achieve a major bolus of COVID sales.” On this news, Atea’s stock price fell $0.54 per share, or 6.51%, to close at $7.76 per share on January 6, 2022.
If you are aware of any facts relating to this investigation or purchased Atea shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.