Why Atara Biotherapeutics Shares Are Plummeting Today
Portfolio Pulse from Nabaparna Bhattacharya
Atara Biotherapeutics, Inc. (NASDAQ:ATRA) shares dropped after the company announced that its Phase 2 EMBOLD study of ATA188 in non-active progressive multiple sclerosis (PMS) did not meet the primary endpoint. The company is reviewing the data and plans to reduce expenses on ATA188, focusing more on its allogeneic CAR-T pipeline and the expanded tab-cel partnership with Pierre Fabre. This strategy is expected to extend the cash runway beyond Q3 of 2025.
November 09, 2023 | 1:09 pm
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Atara Biotherapeutics' stock price fell after the company's Phase 2 EMBOLD study of ATA188 failed to meet its primary endpoint. The company plans to reduce expenses on ATA188 and focus on other areas, which could potentially stabilize the stock in the long term.
The failure of the Phase 2 EMBOLD study is a significant setback for Atara Biotherapeutics, leading to a drop in the company's stock price. However, the company's plans to reduce expenses on ATA188 and focus on its allogeneic CAR-T pipeline and the expanded tab-cel partnership with Pierre Fabre could potentially stabilize the stock in the long term.
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