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Sep 30, 2023
Atara Q3 2023 Earnings Report
Atara expanded its global partnership with Pierre Fabre Laboratories for Tab-cel, restructured operations to reduce expenses, and is focusing on advancing ATA188 and AlloCAR-T programs.
Key Takeaways
Atara Biotherapeutics announced an expanded global partnership with Pierre Fabre Laboratories for tab-cel, receiving up to $640 million and significant double-digit tiered royalties. The company is restructuring to reduce workforce by 30% and focus on ATA188 and AlloCAR-T programs. Atara's cash runway is extended into Q3 2025. The net loss for the third quarter 2023 was $69.8 million.
Expanded global Tab-cel partnership with Pierre Fabre Laboratories for up to $640 million.
Strategic restructuring to reduce workforce by approximately 30 percent.
Cash runway extended into Q3 2025 through partnership and restructuring.
Focusing on advancement of ATA188 and differentiated allogeneic CAR T programs.
Atara
Atara
Forward Guidance
Atara expects to submit the tab-cel post-transplant lymphoproliferative disease (PTLD) BLA in Q2 2024, initiate a Phase 1 study in relapsed/refractory B-cell non-Hodgkin’s lymphoma (NHL) for ATA3219 with preliminary clinical data anticipated H2 2024, and continue advancement of promising early AlloCAR-T development programs including ATA3431.
Positive Outlook
- Tab-cel BLA submission expected in Q2 2024.
- Initiation of Phase 1 study for ATA3219 expected soon.
- Preliminary clinical data for ATA3219 anticipated in H2 2024.
- Continued advancement of AlloCAR-T programs.
- ATA188 Phase 2 EMBOLD study primary analysis on track for early November.
Challenges Ahead
- Strategic restructuring includes a 30% workforce reduction.
- Reliance on Pierre Fabre Laboratories for tab-cel commercialization.
- Uncertainties associated with pharmaceutical product development.
- Potential impacts from the COVID-19 pandemic and global conflicts.
- Dependence on successful clinical trials and regulatory approvals.