Atara Biotherapeutics, Inc. (ATRA) saw its loss widen to $25.65 million, or $0.88 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $16.56 million, or $0.58 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $26.16 million, compared with an operating loss of $17.06 million in the previous year period.
"We continued to make important progress advancing our robust pipeline of T-cell therapies in the first quarter," said Isaac Ciechanover, chief executive officer and president of Atara Biotherapeutics. "With the expected initiation of two Phase 3 trials this year and a conditional marketing authorization submission in the EU next year for our lead oncology product candidate, ATA129, we are on our way to becoming a commercial immunotherapy company. The recent data reported at AAN with autologous ATA188 in progressive multiple sclerosis also highlights the potential to expand our platform beyond oncology to include autoimmune disease."
Working capital declines
Atara Biotherapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $227.51 million as at Mar. 31, 2017, down 24.88 percent or $75.37 million from $302.88 million on Mar. 31, 2016. Current ratio was at 30.15 as on Mar. 31, 2017, down from 35.19 on Mar. 31, 2016.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
