Atara Biotherapeutics Announces Fourth Quarter and Full Year 2019 Financial Results and Recent Clinical, Operational and Strategic Progress

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

Tab-cel® (tabelecleucel)

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 .

Forward-Looking Statements
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.

Consolidated Balance Sheets
(In thousands)

  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 

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 

Kerry Beth Daly
Head, Corporate Communications
Atara Biotherapeutics

John Craighead, Ph.D.
Vice President, Investor Relations & Corporate Communications
Atara Biotherapeutics

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