Atea Pharmaceuticals (AVIR) said it has recently taken actions to enhance shareholder value, including: Launching a review of strategic opportunities. In Q4, Atea engaged an independent global investment bank to assist the company in identifying potential opportunities to enhance shareholder value, including the exploration of strategic partnerships related to Atea’s Phase 3 program for the treatment of HCV. During Q1, Atea reduced its workforce by approximately 25% and expects cost savings of approximately $15M through 2027. Atea also appointed an independent director in Arthur Kirsch. Evercore is serving as Atea’s financial advisor.
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