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Dec 30, 2024
Atara Q4 2024 Earnings Report
Atara Biotherapeutics reported its financial results for the fourth quarter and full year 2024.
Key Takeaways
Atara Biotherapeutics reported a net loss of $12.7 million for Q4 2024, a significant improvement from the $60.5 million loss in Q4 2023. Total revenue for the quarter was $32.753 million, primarily driven by commercialization revenue. The company is focusing on EBVALLO and has paused its CAR-T programs.
Net loss for Q4 2024 was $12.7 million, compared to $60.5 million in Q4 2023.
Total revenue for Q4 2024 was $32.753 million, up from $4.252 million in Q4 2023.
Cash, cash equivalents and short-term investments totaled $42.5 million as of December 31, 2024.
Atara has paused development of its allogeneic CAR-T cell programs (ATA3219 and ATA3431) to focus on EBVALLO.
Forward Guidance
Atara is focused on addressing the issues at a third-party manufacturing facility to lift the clinical hold and resubmit the EBVALLO BLA. The company anticipates providing a regulatory update in the second quarter of 2025.
Positive Outlook
- Working closely with partners and the FDA to lift clinical hold and support EBVALLO BLA resubmission.
- Anticipates providing a regulatory update on EBVALLO in Q2 2025.
- FUJIFILM Diosynth Biotechnologies (FDB) approved as a second third-party manufacturer for EBVALLO by EMA, positioned for U.S. market supply.
- Entered a non-binding term sheet with Redmile Group for up to $15 million in funding through an equity line of credit.
- Actively discussing accelerating the transfer of all operational activities related to EBVALLO to Pierre Fabre by end of Q1 2025.
Challenges Ahead
- FDA issued a Complete Response Letter (CRL) for EBVALLO BLA due to third-party manufacturing facility findings.
- FDA issued a clinical hold notice on EBVALLO studies linked to the CRL.
Historical Earnings Impact
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