Atara Biotherapeutics (ATRA) Drops 55% on Inconclusive Phase 2 Data

Atara Biotherapeutics (ATRA) plunged today on news that an interim analysis deemed its Phase 2 data for progress multiple sclerosis (MS) to be inconclusive. The Company stated that they believe “the six-month interim endpoint may be an inaccurate measure of the potential of this intervention in this condition,” and hope for more positive data in the future. Atara plans to share top-line data from the trial in October 2023.

“We’re trying to protect the integrity of the placebo-controlled study and ensure that we don’t introduce potential buyers by disclosing publicly the interim results,” Jakob Dupont, M.D., head of Atara’s global R&D operations, said on the call.

The markets responded to the news, causing the stock to drop 55%. ATRA is a member of the PRISM Gene Therapy Index, which fell 1.1% for the day, largely due to ATRA.

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. For additional information about the company, please visit atarabio.com and follow us on Twitter and LinkedIn.