The company has failed to generate any revenue over the last ten quarters, while R&D expenses remain the primary cost driver, peaking at $57.6 million in 2024Q1.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 351.37M | 48.63M | 0 | 0 |
| Revenue Growth % | - | - | - | - | -100% | 622.49% | - | - | - |
| Cost of Goods Sold | 2.52M | 0 | 83.37M | 70.09M | 62.39M | 167.21M | 38.02M | 17K | 17K |
| COGS % of Revenue | - | - | - | - | - | 47.59% | 78.18% | - | - |
| Gross Profit | -2.52M | 0 | -83.37M | -70.09M | -62.39M | 184.16M | 10.61M | -17K | -17K |
| Gross Margin % | - | - | - | - | - | 52.41% | 21.82% | - | - |
| Gross Profit Growth % | - | 100% | -18.94% | -12.34% | -133.88% | 1635.74% | 62511.76% | 0% | - |
| Operating Expenses | 187.33M | 180.89M | 109.58M | 94.07M | 68.26M | 45.78M | 21.64M | 14.61M | 9.48M |
| OpEx % of Revenue | - | - | - | - | - | 13.03% | 44.5% | - | - |
| Selling, General & Admin | 30.28M | 32.86M | 48.85M | 49.92M | 48.71M | 45.78M | 21.64M | 4.44M | 2.8M |
| SG&A % of Revenue | - | - | - | - | - | 13.03% | 44.5% | - | - |
| Research & Development | 159.57M | 148.02M | 145.4M | 132.84M | 88.84M | 167.21M | 38.02M | 10.17M | 6.67M |
| R&D % of Revenue | - | - | - | - | - | 47.59% | 78.18% | - | - |
| Other Operating Expenses | -1.1M | 0 | -84.67M | -88.69M | -69.29M | -167.21M | -38.02M | 0 | 0 |
| Operating Income | -189.85M | -180.89M | -192.95M | -164.16M | -130.65M | 138.38M | -11.03M | -14.61M | -9.48M |
| Operating Margin % | - | - | - | - | - | 39.38% | -22.68% | - | - |
| Operating Income Growth % | - | 6.25% | -17.54% | -25.65% | -194.42% | 1354.55% | 24.49% | -54.14% | - |
| EBITDA | -189.44M | -180.47M | -192.53M | -163.75M | -130.39M | 138.41M | -11.01M | -14.59M | -9.46M |
| EBITDA Margin % | - | - | - | - | - | 39.39% | -22.64% | - | - |
| EBITDA Growth % | -17.1% | 6.27% | -17.58% | -25.58% | -194.21% | 1356.98% | 24.54% | -54.24% | - |
| D&A (Non-Cash Add-back) | 416K | 416K | 416K | 416K | 260K | 29K | 19K | 17K | 17K |
| EBIT | -186.22M | -180.89M | -132.22M | -120.01M | -111.1M | 138.38M | -11.03M | -14.61M | -9.48M |
| Net Interest Income | 10.31M | 16.38M | 25.49M | 29.22M | 0 | 213K | 83K | 574K | 0 |
| Interest Income | 10.31M | 16.38M | 25.49M | 29.22M | 11.15M | 213K | 83K | 574K | 413K |
| Interest Expense | 0 | 0 | 0 | 0 | 11.15M | 0 | 0 | 0 | 0 |
| Other Income/Expense | 14.02M | 16.38M | 25.49M | 29.22M | 11.15M | 213K | 83K | 574K | 413K |
| Pretax Income | -175.83M | -164.51M | -167.46M | -134.94M | -119.5M | 138.59M | -10.95M | -14.03M | -9.06M |
| Pretax Margin % | - | - | - | - | - | 39.44% | -22.51% | - | - |
| Income Tax | -6.32M | -6.16M | 925K | 1.02M | -3.59M | 17.4M | 0 | 0 | 0 |
| Effective Tax Rate % | 3.59% | 3.75% | -0.55% | -0.75% | 3% | 12.56% | 0% | 0% | 0% |
| Net Income | -169.52M | -158.35M | -168.38M | -135.96M | -115.91M | 121.19M | -10.95M | -13.46M | -9.06M |
| Net Margin % | - | - | - | - | - | 34.49% | -22.51% | - | - |
| Net Income Growth % | -21.53% | 5.96% | -23.85% | -17.3% | -195.64% | 1207.06% | 18.67% | -48.5% | - |
| Net Income (Continuing) | -169.52M | -158.35M | -168.38M | -135.96M | -115.91M | 121.19M | -10.95M | -14.03M | -9.06M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.14 | -1.94 | -2.00 | -1.63 | -1.39 | 1.37 | -0.13 | -0.16 | -0.90 |
| EPS Growth % | -27.88% | 3% | -22.7% | -17.27% | -201.46% | 1153.85% | 18.75% | 82.22% | - |
| EPS (Basic) | - | -1.94 | -2.00 | -1.63 | -1.39 | 1.46 | -0.13 | -0.16 | -0.90 |
| Diluted Shares Outstanding | 79.2M | 81.5M | 84.26M | 83.39M | 83.25M | 88.25M | 82.44M | 82.62M | 10.09M |
| Basic Shares Outstanding | 79.2M | 81.5M | 84.26M | 83.39M | 83.25M | 82.82M | 82.44M | 82.62M | 10.09M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Clinical trial funding shortfall
As indicated by the company's historical financial statements, Atea Pharmaceuticals has recorded zero revenue over the last ten quarters, confirming its status as a pre-commercial entity entirely dependent on external capital or future milestone payments to sustain its ongoing clinical development programs and operational overhead requirements.
The absence of top-line growth highlights the binary nature of the company's business model, where value creation is tethered exclusively to clinical trial outcomes rather than market-based product adoption. Investors should monitor the lack of recurring revenue as a primary indicator of the company's continued reliance on dilutive financing or strategic partnerships.
Based on reported figures, research and development expenses remain the dominant cost driver, peaking at $57.6 million in 2024Q1, which underscores the capital-intensive nature of the firm's late-stage clinical trials and the significant financial burden required to advance its proprietary antiviral pipeline toward potential regulatory approval.
The fluctuation in R&D spending suggests a variable cost structure tied to the timing of clinical trial enrollment and site management. While SG&A expenses have shown some moderation from their 2024 peaks, the overall cost profile remains heavily skewed toward non-recoverable development expenditures that continue to erode the company's cash position.
According to the provided income statement data, the company's operating losses have remained consistently elevated, with quarterly losses ranging between $37 million and $70 million, reflecting a lack of operating leverage as the firm continues to prioritize pipeline advancement over achieving any semblance of cost-efficient scalability.
The persistent negative operating margin indicates that the company is currently unable to decouple its growth-related spending from its core operational overhead. This lack of leverage suggests that until a commercial product is realized, the company will remain highly sensitive to the inflationary pressures of clinical trial execution.
As reported in financial filings, the company has consistently utilized stock-based compensation, with quarterly figures reaching as high as $14.3 million in 2024Q4, which serves to mitigate cash-based outflows but simultaneously dilutes existing shareholders while failing to offset the underlying structural losses of the business.
The reliance on equity-based incentives appears to be a strategic mechanism to preserve cash, yet it complicates the assessment of true operational efficiency. Analysts should scrutinize the impact of these non-cash charges on the net loss, as they represent a significant, albeit non-cash, cost of talent retention in a competitive biotech environment.
Data from the most recent quarterly reports reveal a cash position of $95.7 million, which, when measured against the current quarterly burn rate, suggests a limited runway that may necessitate further capital raises, potentially leading to significant shareholder dilution if clinical milestones are not met in time.
The market's skepticism regarding the company's long-term viability appears rooted in the high probability of future financing needs. Investors should consider whether the current pipeline valuation adequately accounts for the risk of a liquidity crunch should the SUNRISE-3 trial results fail to provide a clear path to commercialization.
Quick answers to the most common questions about buying AVIR stock.
For fiscal year 2025, Atea Pharmaceuticals, Inc. (AVIR) reported total revenue of $0.0M.
Atea Pharmaceuticals, Inc. (AVIR) reported a net loss of $158.3M for the fiscal year ending 2025.