Atara Biotherapeutics, Inc. (ATRA): restructuring charge — Atara cuts 25% of workforce, restructures to focus on CAR-T; CMO departs

Atara Biotherapeutics, Inc.

Workforce reduction of ~25% (approx. 56 employees) expected to complete by May 2024; severance costs ~$4.5M.
CMO Manher Joshi to depart Feb 2, 2024; receives 12 months severance, $3k/month consulting fee, $185k tab-cel BLA milestone.
Restructuring plus $27M upfront from Pierre Fabre pact and existing cash expected to fund operations into 2027.
Tab-cel BLA on track for Q2 2024 submission; pivotal ALLELE study showed ORR 49% (p<0.0001).
IND for ATA3219 in Lupus Nephritis planned Q1 2024; preliminary clinical data in lymphoma expected H2 2024.

item 2.05 item 5.02 item 7.01 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Manher (AJ) Joshi

Executive Vice President, Chief Medical Officer

ATRA · Atara Biotherapeutics, Inc.

Effective: 2024-02-02
Filed: January 8, 2024, 6:59 PM ET

On January 8, 2024, the Company announced that the employment of Manher (AJ) Joshi, the Company’s Executive Vice President, Chief Medical Officer, would terminate effective as of February 2, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Manher (AJ) Joshi was terminated as Executive Vice President, Chief Medical Officer at Atara Biotherapeutics, Inc..

Action: terminated
Role: Executive Vice President, Chief Medical Officer

Exact text from the filing

On January 8, 2024, the Company announced that the employment of Manher (AJ) Joshi, the Company’s Executive Vice President, Chief Medical Officer, would terminate effective as of February 2, 2024.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Atara Biotherapeutics, Inc. announced a restructuring with charges of approximately $4.5 million (approximately 25% of its current employees).

Type: restructuring
Charge: approximately $4.5 million
Headcount: approximately 25% of its current employees

Exact text from the filing

On January 8, 2024, Atara Biotherapeutics, Inc. (the “Company”) announced a reduction in its workforce that will impact approximately 25% of its current employees. The Company expects to substantially complete the workforce reduction by May 2024. The Company expects to recognize approximately $4.5 million in total for severance and related benefits for employees laid off under the reduction in force.

View on SEC.gov

13 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Atara Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-003945

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