Why Atea Pharmaceuticals Stock Is Sinking Today
Shares of Atea Pharmaceuticals (NASDAQ: AVIR) fell by as much as 14.4% in premarket trading Wednesday morning. The biotech's shares are sliding today in response to Roche's (OTC: RHHBY) decision to terminate its involvement in the development of the oral COVID-19 therapy known as AT-527. Atea Pharmaceuticals will reportedly regain full commercial rights to the drug on Feb. 10, 2022.