STOCKS TELEGRAPH

Tag: ATRA stock price

  • After-Market Surge: Atara (ATRA) Stock Recovered After An Equity Move

    After-Market Surge: Atara (ATRA) Stock Recovered After An Equity Move

    Atara Biotherapeutics, Inc. (NASDAQ: ATRA) saw a significant rebound on Tuesday during the after-market session, rising 16.15% to $7.91. The ATRA stock finished at $6.81 during the regular trading session, following a notable decline of -10.39%. This recovery followed. The company’s announcement of a strategic equity move after market closure was what caused the stock price volatility.

    Atara Entered New Sock Issuance and Strategic Agreements

    Atara Biotherapeutics announced that it has entered into definitive agreements to issue and sell 758,900 shares of common stock at a price of $8.25 per share. Pre-funded warrants, which permit the acquisition of up to 3,604,780 shares of common stock at a little lower price of $8.2499 per share, were also agreed to be issued and sold by the firm. These deals show a high level of investor confidence since they are 15% above Atara’s volume-weighted seven-day average price.

    The agreements were established with entities connected to Redmile Group, EcoR1 Capital, and Adiumentum Capital Management, along with a significant strategic investment from a large public biotechnology company. The pre-funded warrants are immediately exercisable upon issuance and have an exercise price of $0.0001 per share. The offering is anticipated to close around September 5, 2024, contingent upon the fulfillment of customary closing conditions.

    Strategic Appointment AT ATRA Board

    In conjunction with the offering, Greg Ciongoli, founder and managing partner of Adiumentum Capital Management, will join Atara’s Board of Directors. With the U.S. about to approve their novel cell treatment, tab-cel, and the upcoming CAR-T data readouts, Atara sees this as a critical time. It is anticipated that Ciongoli’s deep industry understanding and vast investing experience would greatly augment the Board’s competence.

    Financial Impact and Use of Proceeds

    Before deducting associated costs, the gross profits from these offers are projected to reach around $36 million. In order to position the business for future development and innovation in the field of cell therapy, Atara intends to use these funds for working capital and general corporate reasons.

  • Atara Biotherapeutics, Inc. (ATRA) stock plunged in the after-hours; here is why?

    Atara Biotherapeutics, Inc. (ATRA) declined in the after-hours market after announcing that Memorial Sloan Kettering Cancer Center (MSK) notified the FDA of a patient’s death in an ongoing study. ATRA is now at $12.12, down about 4% from yesterday’s close. At the closing of the previous trading on Friday, the stock price was $13.68. Approximately 834.75K shares were exchanged in the most recent trading session. The current market cap of the company is around $1.16 billion.

    ATRA new update on the trials

    Atara Biotherapeutics, Inc. (ATRA) said today that Memorial Sloan Kettering Cancer Center (MSK) notified the FDA of a patient’s death in an ongoing study. The fatal SAE occurred in a patient receiving autologous mesothelin CAR T, ATA2271, in Phase 1 MSK-led research. Prior to additional data collection and analysis, MSK has halted fresh patient enrolment in the research. The FDA has agreed to this strategy.

    Autologous CAR T-cell therapy targeting mesothelin is now a part of the testing in clinical studies in patients with malignant pleural mesothelioma. A patient with numerous cancers and other problems. The patient received treatment for advanced recurring mesothelioma. MSK has begun an additional investigation to determine how this incidence is related to ATA2271.

    Upcoming events

    In a press release issued on February 17, 2022, Atara Biotherapeutics, Inc. (ATRA) said it will reveal its fourth quarter and full-year 2021 financial results on Monday, February 28, 2022. There will be a conference call and webcast at 4:30 p.m. Eastern Time to discuss the results and offer an update for shareholders.

    Conclusion

    The negative result from the trials has seriously affected the stock of the price. Atara Biotherapeutics, Inc. (ATRA) has stopped the trials and will provide detail about the event. The company will have to provide concrete evidence to convince the FDA and its future customers about the treatment. The current adverse effect of the treatment could have a serious effect on its regulation.