Amgen spin-out on deck for IPO

• Atara Biotherapeutics (NASDAQ:ATRA) is set for its IPO of 5M shares at $14 - 16.
• The clinical-stage firm develops therapeutics for serious unmet medical needs. Its initial focus is on muscle wasting conditions and oncology.
• Its lead product candidate is PINTA 745, currently in Phase 2 development for protein-energy wasting, a condition affecting many end-stage renal disease patients. Its second product candidate is STM 434 for ovarian cancer. A Phase 1 trial is set to begin shortly.
• The company was created by Amgen (AMGN +1.1%) and VC firm Kleiner Perkins in 2012.
• ETFs: IBB, BIB, BIS (IPO -2%)