Business
Atara Biotherapeutics Announces $36 Million Registered Direct Offering
Led by Existing Top Institutional Investors With Participation From a New Strategic Investor Well Positioned To Execute on Tab-cel® U.S. BLA Approval and
About this update from Atara Biotherapeutics, Inc.
[{"type":"text","content":"\nLed by Existing Top Institutional Investors With Participation From a New Strategic Investor\n\n\nWell Positioned To Execute on Tab-cel® U.S. BLA Approval and Advancement of ATA3219\n\n\nFurther Strengthens Balance Sheet With Cash Runway Into 2027 Enabling Key Pipeline Readouts\n\n\n THOUSAND OAKS, Calif.--(BUSINESS WIRE)--\nAtara Biotherapeutics, Inc. (Nasdaq: ATRA), a leader in T-cell immunotherapy, leveraging its novel allogeneic Epstein-Barr virus (EBV) T-cell platform to develop transformative therapies for patients with cancer and autoimmune diseases, today announced that it has entered into definitive agreements for the issuance and sale of 758,900 shares of its common stock at a purchase price of $8.25 per share and the issuance and sale of pre-funded warrants to purchase up to 3,604,780 shares of its common stock at a purchase price of $8.2499 per share in a registered direct offering, representing a premium of 15% to Atara’s 7-day volume-weighted average price, to entities affiliated with Redmile Group, EcoR1 Capital, and Adiumentum Capital Management, as well as a strategic investment from a large public biotechnology company. The pre-funded warrants will have an exercise price of $0.0001 per share and will be immediately exercisable upon issuance. The offering is expected to close on or about September 5, 2024, subject to the satisfaction of customary closing conditions.\n\n\nIn connection with the offering, Greg Ciongoli, founder and managing partner of Adiumentum Capital Management, will join Atara’s Board of Directors.\n\n\n“Atara’s innovative cell therapies, like tab-cel and its differentiated allogeneic CAR-T portfolio, have the potential to transform the lives of cancer and autoimmune patients,” said Greg Ciongoli. “With the prospective U.S. approval for tab-cel and several anticipated CAR-T data readouts all approaching, this is an exciting time to join Atara’s Board and to partner with its strong leadership team.”\n\n\n“We are very pleased to have Greg join our Board, and I look forward to collaborating with him as I transition to Chairman,” said Pascal Touchon, President and Chief Executive Officer. “He has over two decades of investing experience and deep industry knowledge, which will complement our Board of Directors well.”\n\n\nThe gross proceeds to Atara from the offering are expected to be $36 millio...