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Mar 31, 2024
Atara Q1 2024 Earnings Report
Atara Biotherapeutics reported financial results and operational progress for Q1 2024.
Key Takeaways
Atara Biotherapeutics reported a net loss of $31.8 million, or $0.23 per share, for the first quarter 2024, compared to a net loss of $74.8 million, or $0.72 per share, for the same period in 2023. Total revenues were $27.4 million for the first quarter 2024, as compared to $1.2 million for the same period in 2023. The company's cash, cash equivalents, and short-term investments totaled $46.2 million as of March 31, 2024.
Atara is on track to submit the Tab-cel BLA in Q2 2024.
Phase 1 study of ATA3219 in Lupus Nephritis is expected to begin in Q4 2024.
Enrollment of ATA3219 Non-Hodgkin’s Lymphoma study has been initiated, with initial clinical data expected in Q4 2024.
Atara's cash runway is expected to last into 2027.
Revenue by Segment
Forward Guidance
Atara expects full year 2024 operating expenses to decrease by approximately 35% from 2023 and anticipates funding operations into 2027.
Positive Outlook
- Anticipated payments of $20 million and $60 million from Pierre Fabre contingent upon the successful acceptance and approval of the tab-cel BLA, respectively
- Anticipated purchases of tab-cel inventory through the manufacturing transfer date by Pierre Fabre
- Anticipated reimbursement for tab-cel global development costs through the BLA transfer by Pierre Fabre
- Operating efficiencies resulting from completed workforce reductions
- Anticipated royalties from sales of tab-cel by Pierre Fabre in the U.S. post BLA approval
Historical Earnings Impact
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Avg. Return Before/After Earnings
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