Atara Biotherapeutics slumps after FDA declines to approve cancer therapy

Atara Biotherapeutics

16/01/2025 14:11

** Shares of drugmaker Atara Biotherapeutics  ATRA.O  fall
47.8% to $6.87 premarket
    ** U.S. FDA has declined to approve company's cancer therapy
tabelecleucel
    ** FDA's decision was based on observations made during an
inspection of a third-party manufacturing facility for the
therapy - company
    ** If ATRA does not secure enough funding by Q1 2025, it
intends to suspend all of CAR-T cell therapy programs and
significantly reduce expenses and activities to only those that
support tabelecleucel's approval
    ** Shares rose 3.8% in 2024

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))