Atara Biotherapeutics Announces $15 Million Registered Direct Offering
- None.
- None.
The issuance and sale of pre-funded warrants by Atara Biotherapeutics represents a strategic financing move, aimed at bolstering the company's capital structure. The transaction involves a significant number of shares, 27,272,727, which, when exercised, will provide the company with a stream of capital. The exercise price of $0.0001 is nominal, essentially guaranteeing that the warrants will be exercised and converted into common stock. This influx of capital is likely earmarked for advancing the company's T-cell immunotherapy platform, which is central to its pipeline of therapies for cancer and autoimmune diseases.
Investors should be aware that such financing could lead to dilution of existing shares. However, the immediate capital could enable Atara to accelerate its research and development activities, potentially bringing therapies to market more quickly. The involvement of existing institutional investors signals confidence in the company's prospects, which could be a positive indicator for the stock's performance. Long-term, the success of the therapies in development will be crucial in determining whether this dilution is offset by growth in the company's valuation.
Atara Biotherapeutics' focus on T-cell immunotherapy places it within a highly competitive and innovative segment of the biotechnology industry. Its novel allogeneic Epstein-Barr virus (EBV) T-cell platform is part of a broader trend towards personalized medicine, which is gaining traction due to its potential to deliver more effective treatments with fewer side effects. The company's ability to secure funding through this offering indicates a sustained interest in immunotherapy and its applications.
The biotech sector is often characterized by high capital expenditure, particularly in the stages of clinical trials and product development. Atara's successful capital raise should be seen in the context of these industry-specific financial demands. The additional funds may help the company maintain its competitive edge by investing in cutting-edge research and clinical trials. The outcome of these investments will be critical in determining Atara's market position and its ability to capture value from its proprietary technologies.
The field of T-cell immunotherapy is a rapidly evolving landscape, where clinical trial outcomes can significantly impact a company's future. Atara's allogeneic EBV T-cell platform is of particular interest, as it targets a niche but important area within oncology and autoimmune diseases. The success of this platform could lead to breakthroughs in treating conditions that have been historically difficult to manage.
From a medical research perspective, the funding secured through the issuance of pre-funded warrants will likely be directed towards advancing clinical trials and expanding the therapy pipeline. The ability to expedite these processes is crucial, as the regulatory environment for biologics is stringent, with a strong emphasis on safety and efficacy. The investment from institutional backers suggests a belief in the potential of Atara's research outcomes. However, the inherent risks of drug development should be considered, as positive trial results are not guaranteed and can affect the company's financial health and stock valuation.
The gross proceeds to Atara from the offering are expected to be
The securities described above are being offered by Atara pursuant to a shelf registration statement on Form S-3 (No. 333-275256), including a base prospectus, that was previously filed by Atara with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Atara Biotherapeutics, Inc.
Atara is harnessing the natural power of the immune system to develop off-the-shelf cell therapies for difficult-to-treat cancers and autoimmune conditions that can be rapidly delivered to patients within days. With cutting-edge science and differentiated approach, Atara is the first company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. Our advanced and versatile Epstein-Barr virus (EBV) T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological and B-cell driven autoimmune diseases. Atara is headquartered in
Forward-Looking Statements
This press release contains or may imply “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For example, forward-looking statements include statements regarding the completion, timing and size of the offering and the anticipated use of proceeds of the offering. Because such statements deal with future events and are based on Atara’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Atara could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including without limitation risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the offering, as well as those discussed in Atara’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the prospectus supplement and Atara’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings and in the documents incorporated by reference therein. Except as otherwise required by law, Atara disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240107077138/en/
Investor and Media Relations:
Alex Chapman
Vice President, Corporate Communications & Investor Relations
(805) 456-4772
achapman@atarabio.com
Jason Awe, Ph.D.
Senior Director, Corporate Communications & Investor Relations
(805) 217-2287
jawe@atarabio.com
Source: Atara Biotherapeutics, Inc.
FAQ
What did Atara Biotherapeutics announce?
What is the ticker symbol for Atara Biotherapeutics?
What is the purchase price of the pre-funded warrants?
How many shares are included in the offering?
Who is the target audience for the direct offering?
