Atara Biotherapeutics Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
SOUTH SAN FRANCISCO, Calif., May 10, 2017 (GLOBE NEWSWIRE) -- Atara Biotherapeutics, Inc. (Nasdaq:ATRA) today announced that the compensation committee of Atara’s board of directors, approved a grant, effective as of May 10, 2017, to Dr. Derrell Porter in connection with his employment at the Company, of a non-qualified stock option to purchase 130,000 shares of Atara’s common stock. This option was granted as an inducement material to the employee's entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
The stock option has a seven-year term and an exercise price of $14.30, equal to the per share closing price of Atara’s common stock as reported by NASDAQ on the date of grant. The stock option will vest over four years, with 25% vesting on the first anniversary of the grant date and the remainder vesting over the following three years, assuming the employee is continuously employed by Atara as of such date.
Atara is providing this stock option information in accordance with NASDAQ Listing Rule 5635(c)(4).
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. is a biopharmaceutical company developing meaningful therapies for patients with severe and life-threatening diseases who have been underserved by scientific innovation, with an initial focus on allogeneic T-cell therapies for cancer, autoimmune, and infectious disease. Atara's T-cell product candidates harness the power of the immune system to recognize and attack cancer cells and cells infected with certain viruses. The Company's initial clinical stage T-cell product candidates include Epstein-Barr virus targeted Cytotoxic T-cells (EBV-CTL), or ATA129, Cytomegalovirus targeted Cytotoxic T-cells (CMV-CTL), or ATA230, and Wilms Tumor 1 targeted Cytotoxic T-cells (WT1-CTL), or ATA520. These product candidates have demonstrated the potential to have therapeutic benefit in a number of clinical indications including hematologic malignancies, solid tumors, and refractory viral infections. The Company is also developing a next generation of T-cell product candidates utilizing a technology to selectively enhance a T-cell's ability to target specific viral proteins implicated in a disease. The Company’s ATA188 product candidate leverages this technology. Initial clinical investigations employing this approach will focus on multiple sclerosis and other virally mediated cancers and infections.
INVESTOR & MEDIA CONTACTS: Investors: John Craighead, Atara Biotherapeutics 650-491-5806 jcraighead@atarabio.com Steve Klass, Burns McClellan 212-213-0006 x331 sklass@burnsmc.com Media: Justin Jackson, Burns McClellan 212-213-0006 x327 jjackson@burnsmc.com
Released May 10, 2017