Atara Biotherapeutics shares are trading lower after the company announced the primary analysis data from its Phase 2 EMBOLD study of ATA188 in non-active progressive multiple sclerosis did not meet the primary endpoint of confirmed disability improvement. Also, multiple firms downgraded the stock.
Portfolio Pulse from Benzinga Newsdesk
Atara Biotherapeutics announced that its Phase 2 EMBOLD study of ATA188 in non-active progressive multiple sclerosis did not meet the primary endpoint of confirmed disability improvement. Following this announcement, multiple firms downgraded the stock.
November 09, 2023 | 5:37 pm
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NEGATIVE IMPACT
Atara Biotherapeutics' stock was downgraded by multiple firms following the failure of its Phase 2 EMBOLD study of ATA188 to meet its primary endpoint.
The failure of a clinical trial is a significant negative event for a biotech company, as it indicates that the drug in question may not be effective. This can lead to downgrades from analysts, as they may believe that the company's future revenue potential is lower than previously expected. This is likely to have a negative impact on the company's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100