Atara Biotherapeutics (ATRA) investor relations material

Executive summary

• Achieved net income of $40.4 million for the six months ended June 30, 2025, compared to a net loss of $50.8 million in the prior year period, driven by milestone payments and reduced operating expenses after transferring manufacturing to Pierre Fabre.

• FDA accepted BLA filing for tab-cel with Priority Review; PDUFA target date set for January 10, 2026.

• Completed transfer of all manufacturing, clinical, and development responsibilities for tab-cel to Pierre Fabre, who now covers global commercialization and development costs.

• Paused allogeneic CAR T cell programs and discontinued related operations, focusing resources on tab-cel and strategic priorities.

• Board resumed review of strategic alternatives, including potential mergers, acquisitions, or asset sales, following tab-cel BLA resubmission.

Financial highlights

• Commercialization revenue was $115.7 million for the six months ended June 30, 2025, up from $56.0 million year-over-year, primarily due to milestone payments and transfer of manufacturing to Pierre Fabre.

• Cash, cash equivalents, and short-term investments totaled $22.3 million as of June 30, 2025, up from $13.8 million at March 31, 2025, but down from $42.5 million at year-end 2024.

• Net income for the six months ended June 30, 2025 was $40.4 million; Q2 2025 net income was $2.4 million, compared to losses in prior periods.

• Operating expenses and R&D costs dropped significantly due to workforce reductions and transfer of activities to Pierre Fabre.

• No shares were sold under the ATM facility in the first half of 2025; $88.7 million remains available for future sales.

Outlook and guidance

• Cash and short-term investments, combined with an anticipated $40 million milestone payment upon tab-cel BLA approval, are expected to provide significant runway, but management notes substantial doubt about the ability to fund operations for at least 12 months without additional capital.

• Eligible for double-digit tiered royalties and $40 million milestone payment upon FDA approval of tab-cel BLA.

• Full-year 2025 operating expenses expected to decrease by at least 60% versus 2024.

• Ongoing review of strategic alternatives, including potential mergers, acquisitions, or other transactions, with no assurance of outcome.

• Anticipates continued losses after 2025 as development and regulatory activities persist.