Loading...
•
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.
Atara
Atara
Atara Revenue by Segment
Revenue by Segment
Commercialization Revenue
CapyFin.com 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.
- Made the difficult decision to pause development of allogeneic CAR-T cell programs (ATA3219 and ATA3431) and discontinue clinical trials.
- Implemented a company-wide workforce reduction of approximately 50% to preserve resources.
- Uncertainty regarding the completion of any strategic alternative or transaction on attractive terms.