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Mar 31
Atara Q1 2025 Earnings Report
Atara Biotherapeutics announced its first quarter 2025 financial results and operational progress.
Key Takeaways
Atara Biotherapeutics reported a significant increase in total revenues to $98.1 million for Q1 2025, up from $27.4 million in Q1 2024, primarily due to revenue recognized from the completion of performance obligations under its Pierre Fabre agreement. The company also reported a net income of $38.0 million, a substantial improvement from a net loss in the prior year period. Operating expenses decreased slightly year-over-year, and the company secured additional financing to extend its cash runway into Q1 2026.
Total revenues for Q1 2025 were $98.1 million, a significant increase from $27.4 million in Q1 2024.
The company reported a net income of $38.0 million for Q1 2025, compared to a net loss of $31.8 million in Q1 2024.
Atara secured $16 million in gross proceeds from an underwriting agreement, extending its cash runway through Q1 2026.
Atara transitioned all tab-cel manufacturing costs and responsibilities to Pierre Fabre Laboratories in Q1 2025.
Atara
Atara
Atara Revenue by Segment
Revenue by Segment
Commercialization Revenue
CapyFin.com Forward Guidance
Atara expects to significantly reduce operating expenses in 2025, with a projected 65% year-over-year decrease, and anticipates its current funding, including recent proceeds, will support operations into the first quarter of 2026.
Positive Outlook
- Atara expects to reduce its operating expenses year-over-year by approximately 65% in 2025.
- The company's current cash, cash equivalents, and short-term investments, combined with the $16 million gross proceeds from the May 2025 offering, are expected to fund planned operations into the first quarter of 2026.
- Atara plans to resume enrollment in the Phase 3 ALLELE clinical study for EBV+ PTLD and the Phase 2 label-expansion multi-cohort clinical study.
- Atara remains eligible for significant milestone payments from Pierre Fabre Laboratories upon FDA approval of EBVALLOTM BLA and related commercial sales.
- The company is in active discussions on accelerating the transfer of all remaining operational activities related to tab-cel to Pierre Fabre, except BLA sponsorship, which is expected to be completed by June 2025.
Challenges Ahead
- Atara has paused development of its CAR T programs (ATA3219 and ATA3431), with wind-down activities anticipated to be completed in Q2 2025.
- The company is still awaiting a Type A meeting with the FDA in Q2 2025 to discuss the plan to address issues raised in the Complete Response Letter (CRL) for EBVALLOTM BLA.
- The company's ability to access additional capital on favorable terms or at all is subject to risks and uncertainties.
- The timing of the transfer of all operational activities related to EBVALLO to Pierre Fabre is subject to risks, with any delay potentially creating additional expenses and cash needs for Atara.
- The company's future performance is subject to risks and uncertainties related to the costly and time-consuming pharmaceutical product development process and the uncertainty of clinical success.