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Atara Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SOUTH SAN FRANCISCO, Calif., June 07, 2018 (GLOBE NEWSWIRE) -- Atara Biotherapeutics, Inc. (Nasdaq:ATRA), a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases, today reported the grant of inducement awards to Utpal Koppikar effective as of June 7, 2018.
The compensation committee of Atara's board of directors granted Mr. Koppikar a stock option to purchase 75,000 shares of Atara’s common stock, and restricted stock units to acquire 45,000 shares of Atara’s common stock. The stock option and restricted stock units were granted as an inducement material to Mr. Koppikar 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 $42.30, equal to the per share closing price of Atara's common stock as reported by Nasdaq on June 7, 2018. The awards 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 vesting dates.
Atara is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases. Atara’s most advanced T-cell immunotherapy in development, tab-cel™ (tabelecleucel), is being developed for the treatment of patients with Epstein-Barr virus associated post-transplant lymphoproliferative disorder (EBV+ PTLD), as well as other EBV associated hematologic and solid tumors, including nasopharyngeal carcinoma (NPC). Atara is also developing off-the-shelf, allogeneic ATA188 and autologous ATA190 T-cell immunotherapies using a complementary targeted antigen recognition technology for specific EBV antigens believed to be important for the potential treatment of multiple sclerosis (MS). Atara's clinical pipeline also includes ATA520 targeting Wilms Tumor 1, or WT1, and ATA230 directed against cytomegalovirus, or CMV. The company was founded in 2012 and is headquartered in South San Francisco, California.
INVESTOR & MEDIA CONTACTS:
John Craighead, Atara Biotherapeutics
Steve Klass, Burns McClellan
Justin Jackson, Burns McClellan