Atara adds 16% ahead of Phase 2 data for multiple sclerosis candidate

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• Clinical-stage biotech Atara Biotherapeutics (NASDAQ:ATRA) surged ~16% as the company plans to report interim data on Tuesday from its Phase 2 EMBOLD study for ATA188, a CAR T immunotherapy for progressive multiple sclerosis.
• About ~1.2M shares have changed hands, exceeding the 65-day average of ~1.1M as Atara (ATRA) recorded the best intraday gain since May 2020.
• The upcoming data readout will include efficacy, safety, and biomarker data that will further guide the late-stage development of ATA188.
• Last week, Atara (ATRA) announced that the results from the interim analysis would be disclosed on Tuesday, a delay from the June timeline indicated in the company’s 1Q 2022 results.
• The company shares have underperformed the broader market since the announcement to drop ~15%, as shown in this graph.