Atara Biotherapeutics, Inc. (ATRA) saw its loss narrow to $18.24 million, or $0.63 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $21.25 million, or $0.75 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $18.75 million, compared with an operating loss of $21.77 million in the previous year period.
"We believe 2017 will be a transformative year for Atara Bio as we continue to advance our robust pipeline of allogeneic T-cell therapies to address multiple diseases with high unmet medical need," said Isaac Ciechanover, Chief Executive Officer and President of Atara Bio. "In December of last year, we reached agreement with the FDA on the designs of two separate Phase 3 trials of ATA129 in the treatment of EBV-PTLD, and more recently we announced EMA support for our plan to submit a conditional marketing authorization application for potential approval of ATA129 in the EU."
Working capital declines
Atara Biotherapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $250.88 million as at Dec. 31, 2016, down 20.33 percent or $64.01 million from $314.89 million on Dec. 31, 2015. Current ratio was at 26.93 as on Dec. 31, 2016, down from 33.43 on Dec. 31, 2015.
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