Atara Q4 2023 Earnings Report
Key Takeaways
Atara Biotherapeutics reported a net loss of $60.5 million for Q4 2023. The company is progressing with its BLA submission for Tab-cel and expanding its allogeneic CAR T pipeline.
Tab-cel U.S. BLA is on track for submission in Q2 2024 following a positive pre-BLA meeting.
Allogeneic CAR T pipeline expands into autoimmune disease with plans to initiate an ATA3219 lupus nephritis study in H2 2024.
ATA3219 NHL study is enrolling, with initial clinical data expected in Q4 2024.
Cash runway into 2027 enables key pipeline readouts.
Atara
Atara
Forward Guidance
Atara expects a decrease in full-year 2024 operating expenses by approximately 35% year-over-year. The company anticipates funding its operations into 2027, considering cash, investments, and potential payments from Pierre Fabre.
Positive Outlook
- Tab-cel U.S. BLA on track for submission in Q2 2024.
- Plan to initiate ATA3219 Lupus Nephritis Study in H2 2024.
- Initial clinical data for ATA3219 Lupus Nephritis Study expected H1 2025.
- Initial clinical data for ATA3219 NHL Study expected in Q4 2024.
- Cash runway into 2027 enables key pipeline readouts.
Challenges Ahead
- The company expects full-year 2024 operating expenses to decrease by approximately 35% year-over-year
- The company expects most of this reduction beginning in Q2 2024 and continuing for the remainder of the year
- The company is planning on transition of substantially all activities relating to tab-cel at the time of the BLA transfer to Pierre Fabre
- The company announced an additional reduction in force in January 2024 that further reduced its headcount by approximately 25% to approximately 170 employees.
- Company reported net losses of $60.5 million for the fourth quarter