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Sep 30, 2024
Atara Q3 2024 Earnings Report
Atara reported third quarter financial results and operational progress.
Key Takeaways
Atara Biotherapeutics reported Q3 2024 financial results, including total revenues of $40.2 million and a net loss of $21.9 million, with cash, cash equivalents, and short-term investments totaling $67.2 million as of September 30, 2024. The company's cash runway is expected to extend into 2027, supported by anticipated milestones, inventory purchases, and operating efficiencies.
Tab-cel BLA is on track with PDUFA target action date of January 15, 2025.
First patient dosed for ATA3219 Non-Hodgkin’s Lymphoma study; initial clinical data expected Q1 2025.
ATA3219 Lupus Nephritis and Extrarenal Systemic Lupus Erythematosus study initiation expected by end of year; initial clinical data expected mid-2025.
Cash runway into 2027 enables key pipeline readouts.
Forward Guidance
Atara expects full year 2024 operating expenses to decrease by approximately 35% from 2023 and anticipates that cash, cash equivalents, short-term investments, and accounts receivable as of September 30, 2024 will enable funding of planned operations into 2027.
Positive Outlook
- Additional $60 million approval milestone from Pierre Fabre contingent upon the approval of the tab-cel BLA
- Additional 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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