SOUTH SAN FRANCISCO, Calif., Feb. 27, 2020 (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, 2019 and recent business highlights.
“2019 was a year of strategic prioritization and significant advancement of our T-cell immunotherapy programs,” said Pascal Touchon, President and Chief Executive Officer of Atara. “In 2020 we plan to deliver on key milestones across our pipeline and further establish Atara as a leader in off-the-shelf, allogeneic T-cell immunotherapies through our innovative EBV T-cell platform, next-generation CAR T technologies and state-of-the-art manufacturing capabilities. This work underpins our mission to transform the lives of patients with serious medical conditions through pioneering science, teamwork and a commitment to excellence.”
Recent Highlights and Anticipated Upcoming Milestones
ATA188 for Progressive Multiple Sclerosis (MS)
EBV CAR T Platform
ATA2271/ATA3271 and ATA3219 CAR T Programs
Fourth Quarter and Full Year 2019 Financial Results
Conference Call and Webcast Information
Atara will host a live conference call and webcast today at 8:00 a.m. EST to discuss the Company’s financial results and recent operational highlights. Analysts and investors can participate in the conference call by dialing for domestic callers and for international callers, using the conference ID 1554668. A live audio webcast can be accessed by visiting the section of . An archived replay will be available on the Company‘s website for approximately 14 days following the live webcast.
About Atara Biotherapeutics, Inc.
() 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 disease (EBV+ PTLD) as well as in earlier stage development for 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. The Company was founded in 2012 and is co-located in South San Francisco and Southern California. Our Southern California hub is anchored by our state-of-the-art manufacturing facility in Thousand Oaks, California. For additional information about the Company, please visit .
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 potential benefits and efficacy of Atara’s drug candidates; Atara’s ability to deliver on key milestones in 2020; the outcome of discussions with regulators, including discussions with the EMA on Atara’s recently-submitted PIP; the timing of and the Company’s ability to achieve clinical and regulatory milestones, including the timing of BLA submissions for tab-cel® for patients with EBV+ PTLD, the results from Atara’s ongoing tab-cel® EAP study, enrollment of patients in in a tab-cel® Phase 2 multi-cohort study, and the timing and results of additional data from Atara’s clinical trials; Atara’s ability to open EU clinical sites in 2020 for its Phase 3 trial of for tab-cel® for patients with EBV+ PTLD; and the sufficiency of the Company’s cash, cash equivalents and short-term investments and ATM proceeds. These forward-looking statements are subject to risks and uncertainties, including those discussed in Atara’s 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 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.
ATARA BIOTHERAPEUTICS, INC.
Consolidated Balance Sheets
December 31, December 31, 2019 2018 Assets Current assets: Cash and cash equivalents $74,317 $60,698 Short-term investments 184,792 248,933 Restricted cash – short-term 194 194 Prepaid expenses and other current assets 13,689 11,664 Total current assets 272,992 321,489 Property and equipment, net 54,176 68,576 Operating lease assets 14,007 — Restricted cash – long-term 1,200 1,200 Other assets 567 574 Total assets $342,942 $391,839 Liabilities and stockholders’ equity Current liabilities: Accounts payable $7,963 $3,719 Accrued compensation 14,706 10,636 Accrued research and development expenses 8,341 19,210 Other current liabilities 5,733 6,414 Total current liabilities 36,743 39,979 Operating lease liabilities – long-term 14,136 — Other long-term liabilities 1,282 13,003 Total liabilities 52,161 52,982 Commitments and contingencies (Note 8) Stockholders’ equity: Common stock 6 5 Additional paid-in capital 1,108,516 866,541 Accumulated other comprehensive income (loss) 220 (340)Accumulated deficit (817,961) (527,349)Total stockholders’ equity 290,781 338,857 Total liabilities and stockholders’ equity $342,942 $391,839
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, 2019 2018 2019 2018 Operating expenses: Research and development $61,640 $62,255 $216,097 $167,457 General and administrative 18,059 19,561 79,584 69,654 Total operating expenses 79,699 81,816 295,681 237,111 Loss from operations (79,699) (81,816) (295,681) (237,111)Interest and other income, net 1,215 1,757 4,717 6,368 Loss before income taxes (78,484) (80,059) (290,964) (230,743)Provision for (benefit from) income taxes 12 (47) 12 (44)Net loss (78,496) $(80,012) $(290,976) $(230,699)Other comprehensive gain (loss): Unrealized gain (loss) on available-for-sale securities (13) 109 560 (189)Comprehensive loss $(78,509) $(79,903) $(290,416) $(230,888)Net loss per common share: Basic and diluted net loss per common share $(1.36) $(1.75) $(5.67) $(5.27) Weighted-average shares outstanding used to calculate basic and diluted net loss per common share 57,662 45,777 51,308 43,811
INVESTOR & MEDIA S:
Kerry Beth Daly
Head, Corporate Communications
John Craighead, Ph.D.
Vice President, Investor Relations & Corporate Communications