Actionable news
0
All posts from Actionable news
Actionable news in ATRA: ATARA BIOTHERAPEUTICS INC,

Atara Biotherapeutics Announces Third Quarter 2015 Financial Results

The following excerpt is from the company's SEC filing.

Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a biopharmaceutical company focused on developing meaningful therapies for patients with unmet medical needs in diseases that have seen limited therapeutic innovation, today reported operational highlights and financial results for the third quarter ended September 30, 2015.

Third Quarter 2015 Operational Highlights

Completed an underwritten follow-on public offering of common stock raising net proceeds of approximately $193.9 million in July 2015.

Collaborating investigator at Memorial Sloan Ke ttering Cancer Center (MSK) presented clinical data on WT1-CTL at the 15

International Myeloma Workshop.

Completed enrollment of the PINTA 745 Phase 2 clinical trial in End-Stage Renal Disease (ESRD) patients with Protein Energy Wasting (PEW).

Augmented executive team with the addition of Heather Turner as Vice President and General Counsel.

“We made substantial progress in our lead programs during the third quarter,” said Isaac Ciechanover, Chief Executive Officer and President of Atara Bio. “This includes completion of patient enrollment in our PINTA 745 Phase 2 clinical trial in ESRD patients with PEW, for which we plan to report top-line data in December of this year. In addition, we closed a follow-on public offering with the proceeds being used to further advance our pipeline programs, including the initiation of our two upcoming pivotal trials in our EBV-CTL program.”

Third Quarter 2015 Financial Results

The Company reported a net loss of $11.9 million, or $0.43 per share, for the third quarter of 2015, compared to a net loss of $5.9 million, or $4.20 per share, for the third quarter of 2014. Substantially all of our net losses have resulted from costs incurred in connection with our research and development programs and from general and administrative expenses associated with our operations.

Total research and development expenses increased to $8.1 million for the third quarter of 2015, compared to $4.2 million for the third quarter of 2014. The increase is primarily due to the following:

$2.6 million increase in spending for manufacturing costs associated with the production of clinical drug supply related to ATA 842 and preclinical development costs.

$2.3 million increase for employee and overhead cost primarily due to payroll-related costs driven by increased headcount, increased stock-based compensation expense, increased travel and increased outside service costs.

$1.6 million decrease in costs related to our cellular...


More