** Shares of drugmaker Atara Biotherapeutics fall 47.8% to $6.87 premarket
** U.S. FDA has declined to approve company's cancer therapy tabelecleucel
** FDA's decision was based on observations made during an inspection of a third-party manufacturing facility for the therapy - company
** If ATRA does not secure enough funding by Q1 2025, it intends to suspend all of CAR-T cell therapy programs and significantly reduce expenses and activities to only those that support tabelecleucel's approval
** Shares rose 3.8% in 2024
(Reporting by Puyaan Singh)
((Puyaan.Singh@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.