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NEW YORK, Jan.  30, 2025  (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Atara Biotherapeutics, Inc. (Nasdaq: ATRA) (“Atara” or the “Company”).

The investigation concerns whether Atara Biotherapeutics, Inc. and certain of its officers and/or directors have engaged in securities fraud.

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Atara announced on January 16, 2025, that it had received “a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) for the EBVALLOTM (tabelecleucel) Biologics License Application (BLA) as monotherapy treatment for adult and pediatric patients two years of age and older with Epstein-Barr virus positive post-transplant lymphoproliferative disease (EBV+ PTLD), who have received at least one prior therapy including an anti-CD20 containing regimen.”

According to the Company, “The CRL was solely related to observations as part of a standard pre-license inspection of a third-party manufacturing facility for EBVALLO.”

The FDA took the additional step of placing a clinical hold on the biotech’s active Investigational New Drug applications due to the same manufacturing concerns that led to Ebvallo’s rejection. In addition to Ebvallo, the hold also affected the company’s allogeneic CD19 CAR T therapy ATA3219, which was testing for non-Hodgkin’s lymphoma and systemic lupus erythematosus. Atara had to suspend screening and enrollment of new study patients in both programs. Only those already enrolled in trials who could “potentially derive clinical benefit” can continue receiving treatment under ongoing study protocols.

On January 16, 2025, the stock fell $4.82 per share, to close at $7.62, a decline of 39%.

The company has subsequently announced, on January 27, 2025, that it would cut 50% of its workforce by June of this year.

Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.

If you wish to discuss this investigation or have any questions regarding your rights and interests, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

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