Atara Biotherapeutics — Third Quarter 2026 Earnings Summary

Financial Performance:

• Total revenues for the third quarter of 2026 were $1.2 million, a decrease of $2.3 million (66%) year-over-year from $3.5 million in Q3 2025, primarily due to a one-time sale of clinical inventory in the prior year.
• Net cash used in operating activities was $0.9 million for Q3 2026, compared to $9.8 million in the same period in 2025.
• Cash, cash equivalents, and short-term investments totaled $9.9 million as of September 30, 2026, remaining flat from $9.9 million as of June 30, 2026.
• Total costs and operating expenses for Q3 2026 were $4.2 million, down from $7.0 million in Q3 2025.
• Research and development expenses were $1.1 million for Q3 2026, down from $2.9 million in Q3 2025.
• General and administrative expenses were $2.8 million for Q3 2026, down from $4.0 million in Q3 2025.
• The company reported a net loss of $2.2 million, or $0.15 per share, for Q3 2026, compared to a net loss of $4.3 million, or $0.32 per share, in Q3 2025.
• Nine-month year-over-year reduction in costs and operating expenses was approximately 83%.
• As of September 30, 2026, the company held $5.9 million in short-term investments and $4.1 million in cash and cash equivalents.
• Deferred revenue stood at $513,000 as of September 30, 2026, down from $716,000 as of December 31, 2025.
• Total liabilities were $56.5 million as of September 30, 2026, compared to $58.7 million as of December 31, 2025.
• Stockholders' equity deficit was $37.9 million as of September 30, 2026, compared to $38.5 million as of December 31, 2025.

Guidance and Future Outlook:

• The FDA has set a Class 2 Resubmission Prescription Drug User Fee Act (PDUFA) target action date of March 31, 2027, for the tab-cel BLA.
• Operating expenses are expected to decline significantly year-over-year in 2026, reflecting the full-year benefit of cost-reduction initiatives implemented in 2025 and the first half of 2026.
• Atara expects its cash position as of September 30, 2026, combined with operating efficiencies, will be sufficient to fund planned operations into mid-2027.
• Approval of the BLA would unlock a $31 million milestone payment from Pierre Fabre Laboratories.
• Upon approval, Atara would also be eligible for significant double-digit tiered royalties and additional milestones related to commercial sales.

Business Segments and Product Lines:

• The U.S. FDA accepted the Biologics License Application (BLA) resubmission for tabelecleucel (tab-cel/EBVALLO) for the treatment of adult and pediatric patients two years of age and older with Epstein-Barr virus positive post-transplant lymphoproliferative disease (EBV+ PTLD).
• The proposed indication is for patients who have received at least one prior therapy.
• Atara is leveraging its allogeneic Epstein-Barr virus (EBV) T-cell platform to develop therapies for cancer and autoimmune diseases.
• Atara is the first company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy.

Management Commentary and Tone:

• Cokey Nguyen, President and CEO, stated that the resubmission of the tab-cel BLA was an important milestone and that the company remains focused on supporting Pierre Fabre Pharmaceuticals toward a successful outcome.
• Management expressed continued belief in tab-cel's significant commercial potential in the U.S.
• The company is taking steps to control expenses with the goal of protecting and maximizing shareholder value while enhancing strategic flexibility.

Risks and Challenges:

• Risks include the uncertainty of clinical success and the costly, time-consuming nature of the pharmaceutical product development process.
• There is a risk that the resubmitted tab-cel BLA may not address deficiencies identified in the Complete Response Letter received on January 9, 2026, or other issues raised by the FDA.
• Pierre Fabre holds the tab-cel BLA and controls the content and strategy of the BLA and related FDA interactions, limiting Atara's ability to influence the review process.
• Risks exist regarding Atara's ability to continue as a going concern, access capital, and the sufficiency of cash resources on favorable terms or at all.

Other Key Points:

• The company has a global commercialization agreement with Pierre Fabre Laboratories.
• The company's weighted-average shares outstanding for the three months ended September 30, 2026, were 15.3 million.
• The company reported interest income of $68,000 and interest expense related to the sale of future revenues of $682,000 for the quarter.
• The "Liability related to the sale of future revenues" increased to $40.7 million ($1.1 million current + $39.6 million long-term) as of September 30, 2026, from $32.7 million ($9.8 million current + $32.7 million long-term) as of December 31, 2025.