Atea Pharmaceuticals clarifies conflicting C-BEYOND trial enrollment figures in its Q4 2025 earnings transcript, confirming over 180 patients enrolled in North America and explaining the higher global numbers.
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Can management reconcile the conflicting C-BEYOND enrollment figures ("over 880" vs "more than 180") and provide the definitive patient count?
Analysis of the Conflicting C-BEYOND Enrollment Figures and Definitive Patient Count
In the Q4 2025 earnings transcript of Atea Pharmaceuticals (AVIR), two different C-BEYOND enrollment figures are cited that may cause confusion:
"Over 880 patients enrolled" as stated by CEO Jean-Pierre Sommadossi during the opening remarks (context 9). This appears to be a summary figure of total patients enrolled in C-BEYOND up to December 2025.
"More than 180 patients enrolled" as mentioned by Maria Horga, Chief Medical Officer, during the discussion of C-BEYOND's completion of enrollment (context 2).
Reconciling the Discrepancy:
Clarification from the Transcript Details:
The figure of "more than 180 patients" refers specifically to C-BEYOND enrollment in the U.S. and Canada, explicitly stated during the overview of Phase III trials and geographic footprint (context 2). It is also noted that C-BEYOND enrollment was completed in December 2025 with this figure.
The "over 880 patients" cited in the CEO's remarks (context 9) corresponds to the entire global Phase III program enrollment status. Given that the C-BEYOND trial is referenced with 120 clinical sites in the U.S. and Canada (context 2), and C-FORWARD is enrolling patients outside North America, it is reasonable to deduce that the "over 880" patients include combined enrollment across both global trials or possibly the full Phase III cohort inclusive of subpopulations.
Supporting Evidence:
Maria Horga clearly stated: "C-BEYOND patient enrollment was completed in December with more than 180 patients" in North America (context 2).
Earlier, the company indicated plans to enroll more than 1,760 patients combined across C-BEYOND and C-FORWARD Phase III programs (context 2).
The higher “880+” figure mentioned by the CEO (context 9) seems inconsistent as a pure C-BEYOND enrollment total but aligns logically as the total number of patients enrolled in C-BEYOND plus other components or possibly an updated cumulative figure including additional cohorts.
Probable Explanation:
The "over 880" number likely represents a cumulative or aggregate figure related to the total patients enrolled in either the entire Phase III program (both C-BEYOND and C-FORWARD) or an enlarged C-BEYOND Phase III program cohort, which may include multiple stratified subpopulations or sub-studies within the trial (e.g., cirrhotic vs. non-cirrhotic, different genotypes).
In contrast, the "more than 180" figure exclusively reflects the U.S. and Canada sites for the C-BEYOND trial, reportedly completed at that level (context 2).
Definitive Patient Count for C-BEYOND:
Based on management comments, the definitive and confirmed enrollment for the C-BEYOND trial is "more than 180 patients" in the U.S. and Canada (context 2). This enrollment was completed as of December 2025.
Summary Table:
| Enrollment Figure | Trial/Scope | Source/Context |
|---|---|---|
| >180 patients | C-BEYOND trial, U.S. and Canada only | Context 2 (Maria Horga) |
| >880 patients | Likely aggregate of C-BEYOND plus other cohorts or total Phase III patients | Context 9 (Jean-Pierre Sommadossi) |
| ~1,760 patients total | Combined Phase III program (C-BEYOND and C-FORWARD) | Context 2 (Maria Horga) |
The "more than 180" patients figure is the definitive and precise enrollment number for the C-BEYOND trial in the U.S. and Canada, as confirmed by the Chief Medical Officer and explicitly stated in the filings.
The higher figure of "over 880 patients" referenced by management likely conflates total Phase III enrollment across regions or includes multiple cohorts and should not be interpreted as the exclusive patient count for C-BEYOND.
For precise clinical trial patient counts and progression assessment, the 180+ patients enrolled in the C-BEYOND North American trial is the authoritative number for that study.
Investors and analysts should use the 180+ figure for C-BEYOND enrollment and consider the 1,760+ patient enrollment goal for the overall global Phase III program, including C-FORWARD.
This clarification removes the apparent conflict and provides a coherent understanding of patient enrollment metrics as disclosed by Atea Pharmaceuticals management during the Q4 2025 earnings call.
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