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SOUTH SAN FRANCISCO, Calif., Feb. 26, 2019 (GLOBE NEWSWIRE) -- Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases, today reported financial results for the fourth quarter and full year ended December 31, 2018, and recent operational highlights.
“2018 was a year of pipeline expansion and strong operational execution for Atara as we advanced our T-cell immunotherapy programs across all three of our major value drivers: tab-cel®, multiple sclerosis and next-generation CAR T,” said Isaac Ciechanover M.D., Chief Executive Officer and President of Atara Biotherapeutics. “Notably, we successfully executed on our strategy to build a leading next-generation and off-the-shelf, allogeneic CAR T portfolio. Our collaborations with academic leaders leverage technologies at the forefront of CAR T innovation for hematologic malignancies and solid tumors. We also opened a state-of-the-art T-cell operations and manufacturing facility and expanded our R&D, operational and commercial leadership. I am extremely gratified with where the Company is today and wish to acknowledge the many extraordinary contributions by Atara employees that enabled us to reach this point. I anticipate 2019 to be another pivotal year with multiple clinical and regulatory milestones, moving Atara closer to realizing our mission of transforming the lives of patients with serious medical conditions.”
Atara continues to progress tab-cel® (tabelecleucel) Phase 3 studies for patients with Epstein-Barr virus associated post-transplant lymphoproliferative disease (EBV+ PTLD) and anticipates initial tab-cel® Phase 3 results to be available to the company in the first half of 2019.
Discussions with the European Medicines Agency (EMA) and U.S. Food & Drug Administration (FDA) regarding the development of tab-cel® are ongoing and Atara’s intention is to align on a global regulatory strategy for patients with EBV+ PTLD. Outcomes of these discussions are expected in the first half of 2019.
Atara plans to submit a tab-cel® EU conditional marketing authorization (CMA) application in the second half of 2019. To ensure the integrity of the ongoing, open-label tab-cel® Phase 3 studies, the Company anticipates disclosing initial top-line EBV+ PTLD results in the second half of 2019 following submission of the EMA CMA application.
Atara expects initial safety results from the ongoing off-the-shelf, allogeneic ATA188 Phase 1 study in patients with progressive multiple sclerosis (MS) in the first half of 2019. Additional safety and efficacy results from this study are expected in the second half of 2019.
The Company is also rapidly advancing its next-generation chimeric antigen receptor T-cell (CAR T) pipeline across multiple therapeutic areas and expects results to be presented at upcoming scientific conferences.
Recent Highlights and Anticipated Upcoming Milestones
ATA188 & ATA190 for Multiple Sclerosis (MS)
Next-Generation CAR T Development Pipeline
Fourth Quarter and Full Year 2018 Financial Results
ATARA BIOTHERAPEUTICS, INC.
Consolidated Balance Sheets
|December 31,||December 31,|
|Cash and cash equivalents||$||60,698||$||79,223|
|Restricted cash - short-term||194||194|
|Prepaid expenses and other current assets||11,664||5,900|
|Total current assets||321,489||172,190|
|Property and equipment, net||68,576||44,129|
|Restricted cash - long-term||1,200||1,200|
|Liabilities and stockholders’ equity|
|Accrued research and development expenses||19,210||4,006|
|Other current liabilities||6,414||3,265|
|Total current liabilities||39,979||27,646|
|Commitments and contingencies|
|Additional paid-in capital||866,541||474,662|
|Accumulated other comprehensive loss||(340)||(151)|
|Total stockholders’ equity||338,857||177,864|
|Total liabilities and stockholders’ equity||$||391,839||$||217,779|
ATARA BIOTHERAPEUTICS, INC.
Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except per share amounts)
|Three Months Ended December 31,||Year Ended December 31,|
|Research and development||$||62,255||$||24,771||$||167,457||$||81,206|
|General and administrative||19,561||11,031||69,654||40,326|
|Total operating expenses||81,816||35,802||237,111||121,532|
|Loss from operations||(81,816||)||(35,802||)||(237,111||)||(121,532||)|
|Interest and other income, net||1,757||473||6,368||2,027|
|Loss before income taxes||(80,059||)||(35,329||)||(230,743||)||(119,505||)|
|Benefit from income taxes||(47||)||(16||)||(44||)||(14||)|
|Other comprehensive gain (loss):|
|Unrealized gain (loss) on available-for-sale securities||109||(63||)||(189||)||32|
|Net loss per common share:|
|Basic and diluted net loss per common share||$||(1.75||)||$||(1.15||)||$||(5.27||)||$||(4.00||)|
|Weighted-average shares outstanding used to
calculate basic and diluted net loss per common share
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases. Atara’s technology platform leverages research collaborations with leading academic institutions with the Company’s scientific, clinical, regulatory and manufacturing expertise. Atara’s pipeline includes tab-cel® (tabelecleucel), which is in Phase 3 development for patients with Epstein-Barr virus-associated post-transplant lymphoproliferative disorder (EBV+ PTLD) as well as other EBV-associated hematologic malignancies and solid tumors, including nasopharyngeal carcinoma (NPC); T-cell immunotherapies targeting EBV antigens believed to be important for the potential treatment of multiple sclerosis; and next-generation chimeric antigen receptor T-cell (CAR T) immunotherapies for cancer as well as targets in other therapeutic areas. The company was founded in 2012 and is co-located in South San Francisco and Southern California. Our Southern California hub is anchored by the state-of-the-art Atara T-Cell Operations and Manufacturing (ATOM) facility in Thousand Oaks, California.
This press release contains or may imply "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, forward-looking statements include statements regarding: the Company’s ability to achieve clinical and regulatory milestones in 2019; tab-cel® Phase 3 results; discussions with the EMA and FDA; the Company’s plans to submit a tab-cel® CMA application; results from the ATA188 Phase 1 study; the Company’s ability to rapidly advance its CAR T pipeline and for related results to be presented; opening additional clinical sites in the United States and other geographies; the Company’s plans to initiate an ATA190 study; the Company’s plans to submit an IND related to its next-generation CAR T program and the timing thereof; the Company’s ability to develop ATA621 targeting JC and BK viruses and develop IND-enabling manufacturing processes for this candidate; and the sufficiency of the Company’s cash, cash equivalents and short-term investments to fund operations to mid-2020. Because such statements deal with future events and are based on Atara Biotherapeutics' current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Atara Biotherapeutics could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including those discussed in Atara Biotherapeutics' filings with the Securities and Exchange Commission (SEC), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings and in the documents incorporated by reference therein. Except as otherwise required by law, Atara Biotherapeutics disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.
INVESTOR & MEDIA CONTACTS:
John Craighead, Atara Biotherapeutics
John Grimaldi, Burns McClellan
Nancie Steinberg, Burns McClellan