Atara Biotherapeutics (ATRA) Jumps Up Almost 30% As They Announce Strategy Update
Atara Biotherapeutics (ATRA) shot up almost 30% today as they announced their Q2 update and restructuring plans.
ATRA will be reducing cash burn by laying off 20% of their staff, providing a significant boost to their cash runway, which will now last until Q1, 2024. The Company also plans on refocusing its R&D operations.
The Company also still plans on focusing on ATA188, a cell therapy for the Epstein-Barr virus involved in Multiple Sclerosis.
Atara is housed in the PRISM Gene Therapy Index, which is down 2.5% for the day, despite ATRA’s gains.
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a pioneer in T-cell immunotherapy leveraging its novel allogeneic EBV T-cell platform to develop transformative therapies for patients with serious diseases including solid tumors, hematologic cancers and autoimmune disease. With our lead program in Phase 3 clinical development and currently under review to support registration in Europe, Atara is the most advanced allogeneic T-cell immunotherapy company and intends to rapidly deliver off-the-shelf treatments to patients with high unmet medical need. Our platform leverages the unique biology of EBV T cells and has the capability to treat a wide range of EBV-associated diseases, or other serious diseases through incorporation of engineered CARs (chimeric antigen receptors) or TCRs (T-cell receptors). Atara is applying this one platform, which does not require TCR or HLA gene editing, to create a robust pipeline including: tab-cel® (tabelecleucel) in Phase 3 development for Epstein-Barr virus-driven post-transplant lymphoproliferative disease (EBV+ PTLD); ATA188, a T-cell immunotherapy targeting EBV antigens as a potential treatment for multiple sclerosis; and multiple next-generation chimeric antigen receptor T-cell (CAR-T) immunotherapies for both solid tumors and hematologic malignancies. Improving patients’ lives is our mission and we will never stop working to bring transformative therapies to those in need. Atara is headquartered in South San Francisco, California. For additional information about the company, please visit atarabio.com and follow us on Twitter and LinkedIn.