atra-10q_20190930.htm
false Q3 Atara Biotherapeutics, Inc. 0001604464 --12-31 Large Accelerated Filer 2012-08-01 P10Y 2021-04-30 2026-02-28 2024-04-30 us-gaap:OtherLiabilitiesCurrent us-gaap:OtherLiabilitiesCurrent us-gaap:OtherLiabilitiesNoncurrent P5Y6M P5Y6M P3Y6M P5Y10M24D P4Y7M6D 0001604464 2019-01-01 2019-09-30 xbrli:shares 0001604464 2019-10-31 iso4217:USD 0001604464 2019-09-30 0001604464 2018-12-31 iso4217:USD xbrli:shares 0001604464 2019-07-01 2019-09-30 0001604464 2018-07-01 2018-09-30 0001604464 2018-01-01 2018-09-30 0001604464 us-gaap:CommonStockMember 2018-12-31 0001604464 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001604464 us-gaap:RetainedEarningsMember 2018-12-31 0001604464 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001604464 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001604464 2019-01-01 2019-03-31 0001604464 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001604464 us-gaap:CommonStockMember 2019-03-31 0001604464 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001604464 us-gaap:RetainedEarningsMember 2019-03-31 0001604464 2019-03-31 0001604464 atra:AtTheMarketOfferingMember us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001604464 atra:AtTheMarketOfferingMember us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001604464 atra:AtTheMarketOfferingMember 2019-04-01 2019-06-30 0001604464 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001604464 2019-04-01 2019-06-30 0001604464 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001604464 us-gaap:CommonStockMember 2019-06-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001604464 us-gaap:RetainedEarningsMember 2019-06-30 0001604464 2019-06-30 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:CommonStockMember 2019-07-01 2019-09-30 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0001604464 atra:UnderwrittenPublicOfferingMember 2019-07-01 2019-09-30 0001604464 atra:AtTheMarketOfferingMember us-gaap:CommonStockMember 2019-07-01 2019-09-30 0001604464 atra:AtTheMarketOfferingMember us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0001604464 atra:AtTheMarketOfferingMember 2019-07-01 2019-09-30 0001604464 us-gaap:CommonStockMember 2019-07-01 2019-09-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0001604464 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-07-01 2019-09-30 0001604464 us-gaap:CommonStockMember 2019-09-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-30 0001604464 us-gaap:RetainedEarningsMember 2019-09-30 0001604464 us-gaap:CommonStockMember 2017-12-31 0001604464 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001604464 us-gaap:RetainedEarningsMember 2017-12-31 0001604464 2017-12-31 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:CommonStockMember 2018-01-01 2018-03-31 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-03-31 0001604464 atra:UnderwrittenPublicOfferingMember 2018-01-01 2018-03-31 0001604464 us-gaap:CommonStockMember 2018-01-01 2018-03-31 0001604464 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-03-31 0001604464 2018-01-01 2018-03-31 0001604464 us-gaap:RetainedEarningsMember 2018-01-01 2018-03-31 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001604464 us-gaap:CommonStockMember 2018-03-31 0001604464 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001604464 us-gaap:RetainedEarningsMember 2018-03-31 0001604464 2018-03-31 0001604464 atra:AtTheMarketOfferingMember us-gaap:CommonStockMember 2018-04-01 2018-06-30 0001604464 atra:AtTheMarketOfferingMember us-gaap:AdditionalPaidInCapitalMember 2018-04-01 2018-06-30 0001604464 atra:AtTheMarketOfferingMember 2018-04-01 2018-06-30 0001604464 us-gaap:CommonStockMember 2018-04-01 2018-06-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2018-04-01 2018-06-30 0001604464 2018-04-01 2018-06-30 0001604464 us-gaap:RetainedEarningsMember 2018-04-01 2018-06-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-04-01 2018-06-30 0001604464 us-gaap:CommonStockMember 2018-06-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001604464 us-gaap:RetainedEarningsMember 2018-06-30 0001604464 2018-06-30 0001604464 us-gaap:CommonStockMember 2018-07-01 2018-09-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2018-07-01 2018-09-30 0001604464 us-gaap:RetainedEarningsMember 2018-07-01 2018-09-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-07-01 2018-09-30 0001604464 us-gaap:CommonStockMember 2018-09-30 0001604464 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0001604464 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-30 0001604464 us-gaap:RetainedEarningsMember 2018-09-30 0001604464 2018-09-30 0001604464 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 2019-01-01 0001604464 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0001604464 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-09-30 0001604464 us-gaap:RestrictedStockUnitsRSUMember 2018-01-01 2018-09-30 0001604464 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 0001604464 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-09-30 0001604464 atra:EmployeeStockPurchasePlanMember 2019-01-01 2019-09-30 0001604464 atra:EmployeeStockPurchasePlanMember 2018-01-01 2018-09-30 0001604464 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:USGovernmentAgenciesShorttermDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:CommercialPaperMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:CertificatesOfDepositMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:USGovernmentAgenciesShorttermDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:CommercialPaperMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:FairValueInputsLevel2Member us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0001604464 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001604464 us-gaap:LeaseholdImprovementsMember 2019-09-30 0001604464 us-gaap:LeaseholdImprovementsMember 2018-12-31 0001604464 atra:BuildToSuitAssetMember 2019-09-30 0001604464 atra:BuildToSuitAssetMember 2018-12-31 0001604464 us-gaap:ConstructionInProgressMember 2019-09-30 0001604464 us-gaap:ConstructionInProgressMember 2018-12-31 0001604464 atra:ComputerEquipmentAndSoftwareMember 2019-09-30 0001604464 atra:ComputerEquipmentAndSoftwareMember 2018-12-31 0001604464 us-gaap:EquipmentMember 2019-09-30 0001604464 us-gaap:EquipmentMember 2018-12-31 0001604464 us-gaap:MachineryAndEquipmentMember 2019-09-30 0001604464 us-gaap:MachineryAndEquipmentMember 2018-12-31 0001604464 us-gaap:FurnitureAndFixturesMember 2019-09-30 0001604464 us-gaap:FurnitureAndFixturesMember 2018-12-31 0001604464 atra:MemorialSloanKetteringCancerCenterAgreementMember 2015-06-01 2015-06-30 0001604464 atra:MemorialSloanKetteringCancerCenterAgreementMember 2019-09-30 0001604464 atra:MemorialSloanKetteringCancerCenterAgreementMember 2018-10-01 2018-12-31 0001604464 atra:LicenseAgreementWithQIMRBerghoferMember atra:QIMRBerghoferMedicalResearchInstituteMember 2016-07-01 2016-09-30 0001604464 atra:LicenseAgreementWithQIMRBerghoferMember atra:QIMRBerghoferMedicalResearchInstituteMember 2015-10-01 2015-10-31 0001604464 atra:SouthSanFranciscoCaliforniaMember 2019-01-01 2019-09-30 0001604464 atra:SouthSanFranciscoCaliforniaMember us-gaap:LetterOfCreditMember 2019-09-30 0001604464 atra:ThousandOaksCaliforniaMember 2019-01-01 2019-09-30 0001604464 atra:AuroraColoradoMember 2019-05-01 2019-05-31 utr:sqft 0001604464 atra:ThousandOaksCaliforniaMember 2017-02-15 0001604464 atra:ThousandOaksCaliforniaMember 2017-02-14 2017-02-15 0001604464 atra:ThousandOaksCaliforniaMember us-gaap:LetterOfCreditMember 2017-02-15 0001604464 us-gaap:BuildingMember atra:BuildToSuitLeaseArrangementMember 2018-12-31 0001604464 us-gaap:BuildingMember atra:BuildToSuitLeaseArrangementMember 2018-01-01 2018-12-31 0001604464 us-gaap:OtherNoncurrentLiabilitiesMember 2019-09-30 xbrli:pure 0001604464 atra:UnderwrittenPublicOfferingMember 2019-07-18 2019-07-18 0001604464 atra:UnderwrittenPublicOfferingMember 2019-07-18 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:WarrantMember 2019-07-18 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:WarrantMember 2019-07-18 2019-07-18 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:WarrantMember srt:MaximumMember 2019-07-18 2019-07-18 0001604464 atra:UnderwrittenPublicOfferingMember us-gaap:WarrantMember srt:MinimumMember 2019-07-18 2019-07-18 0001604464 atra:UnderwrittenPublicOfferingMember 2019-01-01 2019-09-30 0001604464 atra:AtTheMarketOfferingMember atra:CowenAndCompanyLimitedLiabilityCompanyMember srt:MaximumMember 2019-02-25 0001604464 atra:AtTheMarketOfferingMember atra:CowenAndCompanyLimitedLiabilityCompanyMember srt:MaximumMember 2019-02-25 2019-02-25 0001604464 atra:CowenAndCompanyLimitedLiabilityCompanyMember atra:AtTheMarketOfferingMember 2019-07-01 2019-09-30 0001604464 atra:CowenAndCompanyLimitedLiabilityCompanyMember atra:AtTheMarketOfferingMember 2019-01-01 2019-09-30 0001604464 atra:CowenAndCompanyLimitedLiabilityCompanyMember atra:AtTheMarketOfferingMember 2019-09-30 0001604464 us-gaap:RestrictedStockUnitsRSUMember atra:FromDateOfGrantMember 2019-01-01 2019-09-30 0001604464 srt:MinimumMember 2019-01-01 2019-09-30 0001604464 srt:MinimumMember atra:TenPercentShareHolderMember 2019-01-01 2019-09-30 0001604464 atra:EmployeesAndNonEmployeesMember 2019-01-01 2019-09-30 0001604464 srt:MinimumMember atra:EmployeesAndNonEmployeesMember 2019-01-01 2019-09-30 0001604464 atra:EmployeesAndNonEmployeesMember srt:MaximumMember 2019-01-01 2019-09-30 0001604464 atra:TwoThousandAndFourteenEquityIncentivePlanMember 2019-09-30 0001604464 atra:InducementPlanMember 2019-09-30 0001604464 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-09-30 0001604464 us-gaap:RestrictedStockUnitsRSUMember 2018-01-01 2018-09-30 0001604464 us-gaap:RestrictedStockUnitsRSUMember 2019-09-30 0001604464 us-gaap:RestrictedStockUnitsRSUMember 2018-12-31 0001604464 us-gaap:EmployeeStockOptionMember 2017-01-01 2017-12-31 0001604464 atra:TwoThousandFourteenEquityIncentivePlanAndInducementPlanMember 2018-12-31 0001604464 atra:TwoThousandFourteenEquityIncentivePlanAndInducementPlanMember 2019-01-01 2019-09-30 0001604464 atra:TwoThousandFourteenEquityIncentivePlanAndInducementPlanMember 2019-09-30 0001604464 us-gaap:EmployeeStockOptionMember 2019-09-30 0001604464 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 0001604464 atra:EmployeeMember 2019-01-01 2019-09-30 0001604464 atra:EmployeeMember 2018-01-01 2018-09-30 0001604464 atra:TwoThousandFourteenEmployeeStockPurchasePlanMember 2019-01-01 2019-09-30 0001604464 srt:MaximumMember atra:TwoThousandFourteenEmployeeStockPurchasePlanMember 2019-01-01 2019-09-30 0001604464 atra:TwoThousandFourteenEmployeeStockPurchasePlanMember 2018-01-01 2018-09-30 0001604464 atra:TwoThousandFourteenEmployeeStockPurchasePlanMember 2019-09-30 0001604464 atra:TwoThousandEighteenInducementPlanMember 2019-09-30 0001604464 atra:OptionsGrantedOutsideEquityPlansMember 2019-09-30 0001604464 us-gaap:ResearchAndDevelopmentExpenseMember 2019-07-01 2019-09-30 0001604464 us-gaap:ResearchAndDevelopmentExpenseMember 2018-07-01 2018-09-30 0001604464 us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-09-30 0001604464 us-gaap:ResearchAndDevelopmentExpenseMember 2018-01-01 2018-09-30 0001604464 us-gaap:GeneralAndAdministrativeExpenseMember 2019-07-01 2019-09-30 0001604464 us-gaap:GeneralAndAdministrativeExpenseMember 2018-07-01 2018-09-30 0001604464 us-gaap:GeneralAndAdministrativeExpenseMember 2019-01-01 2019-09-30 0001604464 us-gaap:GeneralAndAdministrativeExpenseMember 2018-01-01 2018-09-30

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             

Commission file number 001-36548

 

ATARA BIOTHERAPEUTICS, INC.

(Exact name of Registrant as specified in its Charter)

 

 

Delaware

 

46-0920988

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

 

 

611 Gateway Blvd., Suite 900

South San Francisco, CA

 

94080

(Address of principal executive offices)

 

(Zip Code)

(Registrant’s telephone number, including area code: (650) 278-8930

 

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

  

Accelerated filer

 

Non-accelerated filer

 

  

Smaller reporting company

Emerging growth company

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Trading Symbol(s)

 

Name of Each Exchange on Which Registered

Common Stock, par value $0.0001 per share

 

ATRA

 

The Nasdaq Stock Market LLC

The number of outstanding shares of the Registrant’s Common Stock as of October 31, 2019 was 54,150,553 shares.

 

 

 

 


 

ATARA BIOTHERAPEUTICS, INC.

INDEX

 

 

  

 

  

Page

PART I.

  

FINANCIAL INFORMATION

  

 

 

 

 

Item 1.

  

Financial Statements (Unaudited)

  

3

 

 

 

 

  

Condensed Consolidated Balance Sheets

  

3

 

 

 

 

  

Condensed Consolidated Statements of Operations and Comprehensive Loss

  

4

 

 

 

 

  

Condensed Consolidated Statements of Changes in Stockholders’ Equity

  

5

 

 

 

 

  

Condensed Consolidated Statements of Cash Flows

  

6

 

 

 

 

  

Notes to Condensed Consolidated Financial Statements

  

7

 

 

 

Item 2.

  

Management’s Discussion and Analysis of Financial Condition and Results of Operations

  

20

 

 

 

Item 3.

  

Quantitative and Qualitative Disclosures about Market Risk

  

27

 

 

 

Item 4.

  

Controls and Procedures

  

28

 

 

 

PART II.

  

OTHER INFORMATION

  

 

 

 

 

Item 1.

  

Legal Proceedings

  

29

 

 

 

Item 1A.

  

Risk Factors

  

29

 

 

 

Item 2.

  

Unregistered Sales of Equity Securities and Use of Proceeds

  

61

 

Item 3.

  

Defaults Upon Senior Securities

  

61

 

Item 4.

  

Mine Safety Disclosures

  

61

 

Item 5.

  

Other Information

  

61

 

Item 6.

  

Exhibits

  

62

 

 

 

  

Signatures

  

64

 

 

 

 

 

 

2


 

Atara Biotherapeutics, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands, except per share amounts)

 

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

94,431

 

 

$

60,698

 

Short-term investments

 

 

188,491

 

 

 

248,933

 

Restricted cash - short-term

 

 

194

 

 

 

194

 

Prepaid expenses and other current assets

 

 

10,302

 

 

 

11,664

 

Total current assets

 

 

293,418

 

 

 

321,489

 

Property and equipment, net

 

 

55,697

 

 

 

68,576

 

Operating lease assets

 

 

14,204

 

 

 

 

Restricted cash - long-term

 

 

1,200

 

 

 

1,200

 

Other assets

 

 

266

 

 

 

574

 

Total assets

 

$

364,785

 

 

$

391,839

 

 

 

 

 

 

 

 

 

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

5,155

 

 

$

3,719

 

Accrued compensation

 

 

12,897

 

 

 

10,636

 

Accrued research and development expenses

 

 

6,172

 

 

 

19,210

 

Other current liabilities

 

 

6,482

 

 

 

6,414

 

Total current liabilities

 

 

30,706

 

 

 

39,979

 

Operating lease liabilities - long-term

 

 

14,532

 

 

 

 

Other long-term liabilities

 

 

1,105

 

 

 

13,003

 

Total liabilities

 

 

46,343

 

 

 

52,982

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies (Note 8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Common stock—$0.0001 par value, 500,000 shares authorized as of September 30,

   2019 and December 31, 2018, respectively; 54,125 and 45,951 shares issued and

   outstanding as of September 30, 2019 and December 31, 2018, respectively

 

 

5

 

 

 

5

 

Additional paid-in capital

 

 

1,057,669

 

 

 

866,541

 

Accumulated other comprehensive income (loss)

 

 

233

 

 

 

(340

)

Accumulated deficit

 

 

(739,465

)

 

 

(527,349

)

Total stockholders’ equity

 

 

318,442

 

 

 

338,857

 

Total liabilities and stockholders’ equity

 

$

364,785

 

 

$

391,839

 

 

 

See accompanying notes.

3


 

Atara Biotherapeutics, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(Unaudited)

(In thousands, except per share amounts)

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

$

53,538

 

 

$

43,355

 

 

$

154,457

 

 

$

105,202

 

General and administrative

 

 

19,018

 

 

 

16,865

 

 

 

61,525

 

 

 

50,093

 

Total operating expenses

 

 

72,556

 

 

 

60,220

 

 

 

215,982

 

 

 

155,295

 

Loss from operations

 

 

(72,556

)

 

 

(60,220

)

 

 

(215,982

)

 

 

(155,295

)

Interest and other income, net

 

 

661

 

 

 

1,859

 

 

 

3,502

 

 

 

4,611

 

Loss before provision for income taxes

 

 

(71,895

)

 

 

(58,361

)

 

 

(212,480

)

 

 

(150,684

)

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

3

 

Net loss

 

$

(71,895

)

 

$

(58,361

)

 

$

(212,480

)

 

$

(150,687

)

Other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gain (loss) on available-for-sale securities

 

 

60

 

 

 

56

 

 

 

573

 

 

 

(298

)

Comprehensive loss

 

$

(71,835

)

 

$

(58,305

)

 

$

(211,907

)

 

$

(150,985

)

Net loss per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net loss per common share

 

$

(1.31

)

 

$

(1.29

)

 

$

(4.32

)

 

$

(3.49

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding used to calculate basic

   and diluted net loss per common share

 

 

54,920

 

 

 

45,406

 

 

 

49,176

 

 

 

43,148

 

 

See accompanying notes.

4


 

Atara Biotherapeutics, Inc.

Condensed Consolidated Statements of Changes in Stockholders’ Equity

(Unaudited)

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

Common

 

 

Additional

 

 

Other

 

 

 

 

 

 

Total

 

 

 

Stock

 

 

Paid-in

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders’

 

For the Nine Months Ended September 30, 2019

 

Shares

 

 

Amount

 

 

Capital

 

 

Income (Loss)

 

 

Deficit

 

 

Equity

 

Balance as of December 31, 2018

 

 

45,951

 

 

$

5

 

 

$

866,541

 

 

$

(340

)

 

$

(527,349

)

 

$

338,857

 

Effect of the adoption of ASC topic 842 (Leases)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

364

 

 

 

364

 

Balance as of January 1, 2019

 

 

45,951

 

 

$

5

 

 

$

866,541

 

 

$

(340

)

 

$

(526,985

)

 

$

339,221

 

RSU settlements, net of shares withheld

 

 

197

 

 

 

 

 

 

(4,575

)

 

 

 

 

 

 

 

 

(4,575

)

Issuance of common stock pursuant to employee stock awards

 

 

159

 

 

 

 

 

 

2,898

 

 

 

 

 

 

 

 

 

2,898

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

12,269

 

 

 

 

 

 

 

 

 

12,269

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(66,257

)

 

 

(66,257

)

Unrealized gain on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

378

 

 

 

 

 

 

378

 

Balance as of March 31, 2019

 

 

46,307

 

 

 

5

 

 

 

877,133

 

 

 

38

 

 

 

(593,242

)

 

 

283,934

 

Issuance of common stock through ATM Facility, net of commissions

   and offering costs of $338

 

 

359

 

 

 

 

 

 

7,630

 

 

 

 

 

 

 

 

 

7,630

 

RSU settlements, net of shares withheld

 

 

120

 

 

 

 

 

 

(2,095

)

 

 

 

 

 

 

 

 

(2,095

)

Issuance of common stock pursuant to employee stock awards

 

 

97

 

 

 

 

 

 

1,802

 

 

 

 

 

 

 

 

 

1,802

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

15,201

 

 

 

 

 

 

 

 

 

15,201

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(74,328

)

 

 

(74,328

)

Unrealized gain on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

135

 

 

 

 

 

 

135

 

Balance as of June 30, 2019

 

 

46,883

 

 

 

5

 

 

 

899,671

 

 

 

173

 

 

 

(667,570

)

 

 

232,279

 

Issuance of common stock and pre-funded warrants through underwritten

   offerings, net of offering costs of $288

 

 

6,872

 

 

 

 

 

 

140,711

 

 

 

 

 

 

 

 

 

140,711

 

Issuance of common stock through ATM Facility, net of

   commissions and offering costs of $155

 

 

327

 

 

 

 

 

 

5,000

 

 

 

 

 

 

 

 

 

5,000

 

RSU settlements, net of shares withheld

 

 

32

 

 

 

 

 

 

(25

)

 

 

 

 

 

 

 

 

(25

)

Issuance of common stock pursuant to employee stock awards

 

 

11

 

 

 

 

 

 

160

 

 

 

 

 

 

 

 

 

160

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

12,152

 

 

 

 

 

 

 

 

 

12,152

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(71,895

)

 

 

(71,895

)

Unrealized gain on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

60

 

 

 

 

 

 

60

 

Balance as of September 30, 2019

 

$

54,125

 

 

$

5

 

 

$

1,057,669

 

 

$

233

 

 

$

(739,465

)

 

$

318,442

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

Common

 

 

Additional

 

 

Other

 

 

 

 

 

 

Total

 

 

 

Stock

 

 

Paid-in

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders’

 

For the Nine Months Ended September 30, 2018

 

Shares

 

 

Amount

 

 

Capital

 

 

Income (Loss)

 

 

Deficit

 

 

Equity

 

Balance as of December 31, 2017

 

 

30,730

 

 

$

3

 

 

$

474,662

 

 

$

(151

)

 

$

(296,650

)

 

$

177,864

 

Issuance of common stock through underwritten offerings, net of

   offering costs of $526

 

 

12,604

 

 

 

1

 

 

 

293,288

 

 

 

 

 

 

 

 

 

293,289

 

RSU settlements, net of shares withheld

 

 

250

 

 

 

 

 

 

(3,363

)

 

 

 

 

 

 

 

 

(3,363

)

Issuance of common stock pursuant to employee stock awards

 

 

309

 

 

 

 

 

 

6,196

 

 

 

 

 

 

 

 

 

6,196

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

7,014

 

 

 

 

 

 

 

 

 

7,014

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(41,443

)

 

 

(41,443

)

Unrealized loss on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

(373

)

 

 

 

 

 

(373

)

Balance as of March 31, 2018

 

 

43,893

 

 

 

4

 

 

 

777,797

 

 

 

(524

)

 

 

(338,093

)

 

 

439,184

 

Issuance of common stock through ATM Facility, net of commissions

   and offering costs of $1,310

 

 

1,008

 

 

 

1

 

 

 

47,586

 

 

 

 

 

 

 

 

 

47,587

 

RSU settlements, net of shares withheld

 

 

42

 

 

 

 

 

 

(67

)

 

 

 

 

 

 

 

 

(67

)

Issuance of common stock pursuant to employee stock awards

 

 

391

 

 

 

 

 

 

8,661

 

 

 

 

 

 

 

 

 

8,661

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

7,998

 

 

 

 

 

 

 

 

 

7,998

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(50,883

)

 

 

(50,883

)

Unrealized gain on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

19

 

 

 

 

 

 

19

 

Balance as of June 30, 2018

 

 

45,334

 

 

 

5

 

 

 

841,975

 

 

 

(505

)

 

 

(388,976

)

 

 

452,499

 

RSU settlements, net of shares withheld

 

 

153

 

 

 

 

 

 

(4,063

)

 

 

 

 

 

 

 

 

(4,063

)

Issuance of common stock pursuant to employee

   stock awards

 

 

158

 

 

 

 

 

 

3,671

 

 

 

 

 

 

 

 

 

3,671

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

9,252

 

 

 

 

 

 

 

 

 

9,252

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(58,361

)

 

 

(58,361

)

Unrealized gain on available-for-sale securities

 

 

 

 

 

 

 

 

 

 

 

56

 

 

 

 

 

 

56

 

Balance as of September 30, 2018

 

 

45,645

 

 

$

5

 

 

$

850,835

 

 

$

(449

)

 

$

(447,337

)

 

$

403,054

 

 

See accompanying notes.

5


 

Atara Biotherapeutics, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

 

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

Operating activities

 

 

 

 

 

 

 

 

Net loss

 

$

(212,480

)

 

$

(150,687

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Stock-based compensation expense

 

 

39,622

 

 

 

24,264

 

Depreciation and amortization expense

 

 

5,174

 

 

 

2,254