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BUZZ-Atara Biotherapeutics sinks as FDA rejects cancer drug application

Reuters
01/12
BUZZ-<a href="https://laohu8.com/S/ATRA">Atara Biotherapeutics</a> sinks as FDA rejects cancer drug application

** Shares of drugmaker Atara Biotherapeutics ATRA.O fall 49% to $6.91 premarket

** Co says U.S. FDA has rejected its application to market Ebvallo, a treatment for a rare and aggressive cancer linked to the Epstein-Barr virus in patients who have received organ transplants

** FDA said main trial was insufficient to prove effectiveness; had earlier indicated single-arm trial was acceptable - ATRA

** No safety or manufacturing concerns raised, co says; plans meeting with FDA to discuss next steps

** Epstein-Barr virus is a common virus that can cause infections and, in rare cases, lead to certain cancers

** As of last close, stock up ~36% over the past year

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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