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Why Atea Pharmaceutical Stock Is Ripping Higher Today

TheMotleyFool

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Why Atea Pharmaceutical Stock Is Ripping Higher TodayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

Shares of the mid-cap biopharma Atea Pharmaceutical (NASDAQ: AVIR) are up by a respectable 21.5% as of 11:44 a.m. EDT Friday morning. The biotech's shares are taking flight today in response to a successful interim analysis for Merck's oral COVID-19 pill, molnupiravir, in a late-stage trial.

Atea, for its part, is also trialing an oral COVID-19 medication, known as AT-527, with a broadly similar mechanism of action (they both interfere with viral replication). AT-527 is being evaluated as a treatment for patients who are already infected with COVID-19.

Image source: Getty Images.

Source Fool.com

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