SOUTH SAN FRANCISCO, Calif., Aug. 22, 2017 (GLOBE NEWSWIRE) -- Atara Biotherapeutics, Inc. (Nasdaq:ATRA), a leading "off-the-shelf" T-cell immunotherapy company developing novel treatments for patients with cancer and multiple sclerosis (MS), today announced that Atara’s board of directors approved a grant, effective as of August 22, 2017, to Kanya Rajangam, M.D., Ph.D., in connection with her employment at the Company of a non-qualified stock option to purchase 145,000 shares of Atara’s common stock. This option was granted as an inducement material to the employee's entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
The stock option has a seven-year term and an exercise price of $13.65, equal to the per share closing price of Atara’s common stock as reported by NASDAQ on the date of grant. The stock option will vest over four years, with 25% vesting on the first anniversary of the grant date and the remainder vesting over the following three years, assuming the employee is continuously employed by Atara as of such date.
Atara is providing this stock option information in accordance with NASDAQ Listing Rule 5635(c)(4).
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a leading cell therapy company developing novel treatments for patients with cancer and multiple sclerosis (MS). The Company’s “off-the-shelf”, or allogeneic, T-cells are engineered from donors with healthy immune function and allow for rapid delivery from inventory to patients without a requirement for pretreatment. Atara’s T-cell immunotherapies are designed to precisely recognize and eliminate cancerous or diseased cells without affecting normal, healthy cells. Atara’s most advanced T-cell immunotherapy in development, ATA129, is being developed for the treatment of cancer patients with rituximab refractory Epstein-Barr virus (EBV) associated post-transplant lymphoproliferative disorder (EBV-PTLD), as well as other EBV positive hematologic and solid tumors including nasopharyngeal carcinoma (NPC). ATA188, the Company’s next generation T-cell immunotherapy for autoimmune diseases, selectively targets specific EBV antigens believed to be important for the potential treatment of multiple sclerosis (MS). A Phase 1 clinical study of autologous ATA188 in progressive forms of MS is ongoing, and a Phase 1 allogeneic ATA188 clinical study is expected to begin in the second half of 2017. Atara’s clinical pipeline also includes ATA520 targeting Wilms Tumor 1 (WT1) and ATA230 directed against cytomegalovirus (CMV).
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