Atea Pharmaceuticals Cuts Workforce by 25%

Dow Jones

03-07

By Sabela Ojea

Atea Pharmaceuticals cut its workforce by around 25% during the first quarter.

The clinical-stage biopharmaceutical company on Thursday said that the cuts, aimed at enhancing efficiency across its expenditure structure, are expected to lead to savings of around $15 million through 2027.

As of March 4, Atea Pharmaceuticals had 56 full-time employees.

The cuts came after the company logged a narrower loss for the fourth quarter.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

March 06, 2025 17:28 ET (22:28 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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