Atara Biotherapeutics Announces Expanded Global Tab-cel Partnership With Pierre Fabre Laboratories And Third Quarter 2023 Financial Results; Cash, Cash Equivalents And Short-Term Investments As Of September 30, 2023, Totaled $102.4M
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Atara Biotherapeutics has expanded its global partnership with Pierre Fabre Laboratories for tabelecleucel (tab-cel), a T-cell immunotherapy. The deal includes licensing commercialization rights to Tab-cel in the US and all remaining markets. Atara will receive up to $640 million, significant double-digit tiered royalties on net sales, and funding for Tab-cel global development costs. The partnership extends Atara's cash runway into Q3 2025. Atara also announced its Q3 2023 financial results, with cash, cash equivalents, and short-term investments totaling $102.4 million as of September 30, 2023.
November 01, 2023 | 12:34 pm
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Atara Biotherapeutics has expanded its partnership with Pierre Fabre Laboratories, which could bring in up to $640 million in additional payments. The company's Q3 2023 financial results show cash and equivalents of $102.4 million.
The expanded partnership with Pierre Fabre Laboratories is a significant development for Atara Biotherapeutics. The deal could bring in up to $640 million in additional payments, which would significantly boost the company's financial position. This news is likely to be viewed positively by investors, potentially leading to an increase in the company's stock price in the short term.
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