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.
