Atara Biotherapeutics, Inc. (ATRA) saw its loss widen to $25.37 million, or $0.88 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $11.87 million, or $0.43 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $25.94 million, compared with an operating loss of $12.26 million in the previous year period.
"We are pleased to report that for our lead product candidate, EBV-CTL, we have received feedback from FDA on our approach to comparing material manufactured by our CMO with material previously produced at MSK and have commenced manufacturing to support our Phase 3 trials," said Isaac Ciechanover, chief executive officer and president of Atara Bio. "We have also submitted our Phase 3 trial protocols to FDA, and we look forward to the initiation of these trials by year end."
Working capital declines
Atara Biotherapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $268.54 million as at Sep. 30, 2016, down 19.55 percent or $65.24 million from $333.78 million on Sep. 30, 2015. Current ratio was at 20.62 as on Sep. 30, 2016, down from 52.75 on Sep. 30, 2015.
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