Business
Atara Biotherapeutics Announces Second Quarter 2022 Financial Results and Corporate Strategy Update
Atara to Focus on R&D Activities Prioritizing Upcoming Milestones for Key Pipeline Assets ATA188 Phase 2 EMBOLD Study Interim Analysis Completed with Target
About this update from Atara Biotherapeutics, Inc.
[{"type":"text","content":"\nAtara to Focus on R&D Activities Prioritizing Upcoming Milestones for Key Pipeline Assets\n\nATA188 Phase 2 EMBOLD Study Interim Analysis Completed with Target Enrollment Achieved; Primary Endpoint Data Read Out Planned for October 2023\n\nFDA Recommended Pathway to Potential Tab-cel BLA Filing Without Need for New Clinical Trial; European Commission Approval on Track for Q4 2022\n\nATA3219 on Track for Q4 2022 IND Submission\n\nConference Call and Webcast Today at 1:30 p.m. PDT / 4:30 p.m. EDT\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nAtara Biotherapeutics, Inc. (Nasdaq: ATRA), a leader in T-cell immunotherapy, leveraging its novel allogeneic EBV T-cell platform to develop transformative therapies for patients with cancer and autoimmune diseases, today reported financial results for the second quarter 2022, an update to its corporate strategy, recent business highlights, and key upcoming catalysts.\n\n“We are excited about the transformative potential of ATA188 in MS and are pleased that as a result of our significant and constructive engagement, the FDA has recommended a possible path towards a tab-cel BLA filing without the need for a new clinical study,” said Pascal Touchon, President and Chief Executive Officer of Atara. “Atara’s R&D-centered strategy, clear portfolio prioritization, and purposeful partnerships are positioning us for success in reaching critical value-generating milestones for our key pipeline assets. I would like to extend my sincere gratitude and thanks to Atara’s staff for their significant contributions and unwavering commitment to advancing truly innovative medicines for patients in need.\"\n\nCorporate Strategy Update\n\n\nAtara announced plans to focus its activities as a leaner organization centered on R&D to further advance the Company’s innovative pipeline, while reducing cash burn\n\n\nStaff will be reduced by approximately 20% across the organization\n\n\nFuture annual cash burn is anticipated to be reduced by over 20%, extending Atara’s cash runway into Q1 2024\n\n\n\n\nLeveraging its differentiated allogeneic T-cell therapy platform and unique clinical experience in over 500 patients treated, Atara will prioritize R&D activities over the next 18 months on three core priorities:\n\n\nClinical development of ATA188, our potentially transformative Phase 2 asset for progressive multipl...