ATRA INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of Atara Biotherapeutics, Inc.

Jul 27th, 2022 14:49 EST

New York, New York--(Newsfile Corp. - July 27, 2022) - Levi & Korsinsky notifies investors that it has commenced an investigation of Atara Biotherapeutics, Inc. ("Atara" or the "Company") (NASDAQ: ATRA) concerning possible violations of federal securities laws.

On November 4, 2021, Atara issued a press release touting its T cell immunotherapy product candidate, ATA188. In this release, the Company claimed that there was "positive momentum around the ATA188 program" and "increasing awareness of and excitement . . . among the medical community and industry." Atara also made positive statements about ATA188 with regard to patients' sustained disability improvement and about Atara's progress with enrollment in Phase 2 efficacy and safety studies.

Then, on February 28, 2022, Atara issued a press release attached to their Form 8-K, providing an update on ATA188. The Company claimed that "a key data point at the time of the interim analysis will be EDSS [expanded disability status scale] improvement at six months for applicable patients. In the Phase 1 study, EDSS improvement at six months was >85 percent predictive of achieving sustained EDSS improvement at 12 months, the primary endpoint of EMBOLD [Phase 2 randomized, placebo-controlled study]." Stock price fell from $12.85 per share to $10.21 per share the next trading day, as the market reacted negatively to this prediction.

On July 12, 2022, after the market closed, Atara announced the completion of its interim analysis of its phase 2 EMBOLD study for ATA188. The company stated:

"Based on the analysis of the EMBOLD data available at the time of the IA [interim analysis], there was not a sufficient dataset to draw conclusions about the predictive value of six months EDSS improvement for 12 months EDSS improvement. The IDSMC [Independent Data and Safety Monitoring Committee] believes the six-month interim endpoint may be an inaccurate measure of the potential of this intervention in this condition."

As of 3:50pm on July 13, 2022, ATRA stock was trading at $3.905 per share after closing at $8.66 per share on July 12, 2022. To obtain additional information, go to:

https://www.zlk.com/pslra-1/atara-biotherapeutics-inc-information-request-form

or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:Levi & Korsinsky, LLP Joseph E. Levi, Esq.Ed Korsinsky, Esq.55 Broadway, 10th FloorNew York, NY 10006[email protected]Tel: (212) 363-7500Fax: (212) 363-7171www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132069

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