Atea Pharmaceuticals, Inc.
AVIRHealthcare|Biotechnology|US
$4.31
+0.09 (+2.13%)
DCF Value
$1.01
Tangible Book / Share
$2.55
Cash / Share
$2.74
Financials
Financial Snapshot
Market Cap
$345.7M
Enterprise Value
$269.6M
Revenue (TTM)
$0.00
Net Income (TTM)
-$165.3M
Cash & Investments
$219.5M
Net Cash
$219.0M
Free Cash Flow (TTM)
-$152.1M
Operating CF (TTM)
-$152.1M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$219.5M
Quarterly Burn
$38.0M
Monthly Burn
$12.7M
Est. Runway
~5.8 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $34.5M | $21.7M | $850.1M | $764.4M | $646.7M | $578.1M | $454.7M | $301.8M | $219.5M | |
| Operating Cash Flow | -$7.9M | -$12.8M | $296.7M | -$87.0M | -$121.0M | -$85.4M | -$135.5M | -$132.0M | -$152.1M | |
| Free Cash Flow | -$7.9M | -$12.8M | $296.7M | -$87.0M | -$122.9M | -$85.4M | -$135.5M | -$132.0M | -$152.1M | |
| Capital Expenditure | -$12.0K | -$2.0K | -$26.0K | -$4.0K | -$1.9M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $27.5M | -$15.0K | $531.7M | $1.5M | $370.0K | $257.0K | $267.0K | -$25.7M | -$11.0M |
R&D Spending
R&D (TTM)
$155.4M
R&D Intensity
—
R&D Growth vs Prior
+5.0%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $48.6M | $351.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $6.7M | $10.2M | $38.0M | $167.2M | $88.8M | $132.8M | $145.4M | $148.0M | $155.4M | |
| R&D % of Revenue | — | — | 78.2% | 47.6% | — | — | — | — | — | |
| SG&A | $2.8M | $4.4M | $21.6M | $45.8M | $48.7M | $49.9M | $48.8M | $32.9M | $28.2M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $48.6M | $351.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $17.0K | $17.0K | $38.0M | $167.2M | $62.4M | $70.1M | $83.4M | $0.00 | $38.3M | |
| Gross Profit | -$17.0K | -$17.0K | $10.6M | $184.2M | -$62.4M | -$70.1M | -$83.4M | $0.00 | -$38.3M | |
| R&D | $6.7M | $10.2M | $38.0M | $167.2M | $88.8M | $132.8M | $145.4M | $148.0M | $155.4M | |
| SG&A | $2.8M | $4.4M | $21.6M | $45.8M | $48.7M | $49.9M | $48.8M | $32.9M | $28.2M | |
| Operating Income | -$9.5M | -$14.6M | -$11.0M | $138.4M | -$130.7M | -$164.2M | -$192.9M | -$180.9M | -$183.6M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $11.2M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$9.1M | -$14.0M | -$10.9M | $138.6M | -$119.5M | -$134.9M | -$167.5M | -$164.5M | -$171.8M | |
| Net Income | -$9.1M | -$13.5M | -$10.9M | $121.2M | -$115.9M | -$136.0M | -$168.4M | -$158.3M | -$165.3M | |
| EPS (Diluted) | -0.90 | -0.16 | -0.13 | 1.37 | -1.39 | -1.63 | -2.00 | -1.94 | -2.08 | |
| EBITDA | -$9.5M | -$14.6M | -$11.0M | $138.6M | -$110.8M | -$119.6M | -$131.8M | -$164.1M | -$171.4M | |
| Shares Out. (M) | 10.09 | 82.62 | 82.44 | 88.25 | 83.25 | 83.39 | 84.26 | 81.50 | 80.05 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $34.5M | $21.7M | $850.1M | $764.4M | $646.7M | $143.8M | $64.7M | $95.7M | $76.5M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $434.3M | $390.0M | $206.1M | $142.9M | |
| Total Current Assets | $34.7M | $21.9M | $863.5M | $772.4M | $660.9M | $590.5M | $462.4M | $311.0M | $228.7M | |
| Total Assets | $34.9M | $22.1M | $863.6M | $772.9M | $666.7M | $595.0M | $464.7M | $315.2M | $232.3M | |
| Total Current Liabilities | $1.8M | $2.4M | $315.8M | $56.9M | $18.5M | $32.4M | $18.6M | $39.8M | $28.1M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $71.0M | $2.5M | $315.8M | $62.8M | $26.1M | $39.8M | $25.8M | $39.8M | $28.1M | |
| Stockholders' Equity | -$36.2M | $19.5M | $547.8M | $710.1M | $640.6M | $555.2M | $438.9M | $275.4M | $204.2M | |
| Retained Earnings | -$40.2M | -$54.2M | -$65.2M | $56.0M | -$59.9M | -$195.8M | -$364.2M | -$522.6M | -$600.9M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.9M | -$12.8M | $296.7M | -$87.0M | -$121.0M | -$85.4M | -$135.5M | -$132.0M | -$152.1M | |
| Capital Expenditure | -$12.0K | -$2.0K | -$26.0K | -$4.0K | -$1.9M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$7.9M | -$12.8M | $296.7M | -$87.0M | -$122.9M | -$85.4M | -$135.5M | -$132.0M | -$152.1M | |
| Investing Cash Flow | -$12.0K | -$2.0K | -$26.0K | -$4.0K | -$455.4M | $40.3M | $56.1M | $188.8M | $151.9M | |
| Financing Cash Flow | $27.5M | -$15.0K | $531.7M | $1.5M | $370.0K | $257.0K | $267.0K | -$25.7M | -$11.0M | |
| Issuance of Stock | $124.0K | -$15.0K | $317.6M | $1.5M | $230.0K | $257.0K | $267.0K | $259.0K | $1.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$25.5M | -$10.7M | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $414.0K | $624.0K | $7.5M | $39.6M | $46.7M | $49.4M | $51.8M | $20.7M | $16.2M | |
| Net Change in Cash | $19.6M | -$12.8M | $828.5M | -$85.5M | -$576.0M | -$44.8M | -$79.1M | $31.0M | -$11.2M |
Dilution Tracker
Shares Outstanding
80M
5-Year Share Growth
-1.1%
Stock Issuance (TTM)
$1.4M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 10.09 | 82.62 | 82.44 | 88.25 | 83.25 | 83.39 | 84.26 | 81.50 | 80.05 | |
| Change vs Prior % | — | 718.7% | -0.2% | 7.1% | -5.7% | 0.2% | 1.0% | -3.3% | -1.8% | |
| Stock Issuance | $124.0K | -$15.0K | $317.6M | $1.5M | $230.0K | $257.0K | $267.0K | $259.0K | $1.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$25.5M | -$10.7M | |
| Stock Based Comp. | $414.0K | $624.0K | $7.5M | $39.6M | $46.7M | $49.4M | $51.8M | $20.7M | $16.2M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | 21.8% | 52.4% | — | — | — | — | — | |
| Operating Margin % | — | — | -22.7% | 39.4% | — | — | — | — | — | |
| Net Margin % | — | — | -22.5% | 34.5% | — | — | — | — | — | |
| EBITDA Margin % | — | — | -22.6% | 39.5% | — | — | — | — | — | |
| FCF Margin % | — | — | 610.1% | -24.8% | — | — | — | — | — | |
| ROE % | 25.1% | -68.9% | -2.0% | 17.1% | -18.1% | -24.5% | -38.4% | -57.5% | -64.2% | |
| ROA % | -26.0% | -61.0% | -1.3% | 15.7% | -17.4% | -22.9% | -36.2% | -50.2% | -71.2% | |
| ROIC % | -28.6% | -74.4% | -2.0% | 16.9% | -19.5% | -29.1% | -43.2% | -63.0% | -86.4% | |
| R&D / Revenue % | — | — | 78.2% | 47.6% | — | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 622.5% | -100.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 62511.8% | 1635.7% | -133.9% | -12.3% | -18.9% | 100.0% | |
| Operating Income | 0.0% | -54.1% | 24.5% | 1354.6% | -194.4% | -25.7% | -17.5% | 6.3% | |
| Net Income | 0.0% | -48.5% | 18.7% | 1207.1% | -195.6% | -17.3% | -23.9% | 6.0% | |
| EPS (Diluted) | 0.0% | 82.2% | 18.8% | 1153.8% | -201.5% | -17.3% | -22.7% | 3.0% | |
| Operating Cash Flow | 0.0% | -62.0% | 2415.7% | -129.3% | -39.1% | 29.4% | -58.7% | 2.6% | |
| Free Cash Flow | 0.0% | -61.8% | 2415.1% | -129.3% | -41.3% | 30.5% | -58.7% | 2.6% | |
| R&D Expense | 0.0% | 52.4% | 273.9% | 339.7% | -46.9% | 49.5% | 9.5% | 1.8% | |
| SG&A Expense | 0.0% | 58.4% | 387.6% | 111.6% | 6.4% | 2.5% | -2.1% | -32.7% | |
| Total Assets | 0.0% | -36.7% | 3812.6% | -10.5% | -13.7% | -10.8% | -21.9% | -32.2% | |
| Book Value / Share | 0.0% | 106.6% | 2709.2% | 29.0% | -10.2% | -13.5% | -21.8% | -35.1% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 1485.8% | -23.1% | -31.6% | -48.7% | |
| Diluted Shares | 0.0% | 718.7% | -0.2% | 7.1% | -5.7% | 0.2% | 1.0% | -3.3% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B1.69
10Y Low / Med / High0.46 / 1.04 / 128.26
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.01
Tangible Book / Share
$2.55
Net Current Assets / Share
$2.50
Graham Net-Net
$2.39
Cash / Share
$2.74
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -33.71 | -189.63 | -321.38 | 6.12 | -3.46 | -1.87 | -1.68 | -1.84 | -2.07 | |
| P/S Ratio | 0.00 | 0.00 | 70.82 | 2.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -8.47 | 128.26 | 6.29 | 1.04 | 0.63 | 0.46 | 0.64 | 1.06 | 1.69 | |
| EV/EBITDA | -28.72 | -170.31 | -235.59 | -0.17 | 2.19 | -0.94 | -1.66 | -1.19 | -1.57 | |
| EV/Revenue | 0.00 | 0.00 | 53.34 | -0.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
2.35
Grey Zone
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $5.7M | $30.0M | $72.0M |
| Net Income | -$163.0M | -$130.8M | -$107.6M |
| EPS | $-1.99 | $-1.48 | $-1.32 |
| # Analysts (EPS) | 1 | 1 | 1 |