Atea Pharmaceuticals Secures $200 Million Credit Facility

Atea Pharmaceuticals secured a credit facility of up to $200 million from Hercules Capital to support the commercial activities of its chronic hepatitis C virus treatment, bemnifosbuvir/ruzasvir. The company received $65 million at closing, with an additional $135 million available upon the achievement of clinical, regulatory, financing, and commercial milestones. Lenders may provide a further $30 million at their discretion.

The facility includes a 60-month maturity and a 48-month interest-only period. Atea expects its current cash reserves and the initial funding to sustain operations into mid-2028. Morgan Stanley & Co Inc served as the exclusive financial advisor for the arrangement.

The company plans to submit a new drug application for the treatment to the Food and Drug Administration in mid-2027. This submission follows positive results from the C-BEYOND Phase 3 trial, while topline results from the C-FORWARD trial are expected in early 2027.