| Over a week ago | ||||
Stifel analyst Stephen… Stifel analyst Stephen Willey lowered the firm's price target on Atreca to $4 from $5 and keeps a Buy rating on the shares following its Q1 earnings report and update. P1 ARTC-101 data will be featured as an oral presentation at the upcoming ASCO meeting, representing the broader enthusiasm surrounding novel tumor biology and the company's platform, the analyst tells investors. | ||||
"In the first… "In the first quarter of 2023 we continued to advance both ATRC-101 and our preclinical programs. The additional data from the ongoing Phase 1b study of ATRC-101 that we reported in March will help inform our anticipated go / no-go decision for Phase 2 development, which remains on-track for later this year," said John Orwin, CEO of Atreca. "We continue to invest strategically in our platform, which has supported an acceleration of our discovery and early-stage development efforts. We are making great progress in advancing both the APN-497444 and APN-346958 programs and continue to anticipate nominating clinical candidates for both programs later this year." | ||||
| Over a month ago | ||||
Canaccord analyst John… Canaccord analyst John Newman lowered the firm's price target on Atreca to $8 from $20 and keeps a Buy rating on the shares. The analyst said his lower price target reflects decreased total market assumptions, as we believe the combination arm versus monotherapy arm may be the best opportunity for ATRC-101. | ||||
Evercore ISI downgraded… Evercore ISI downgraded Atreca to In Line from Outperform with a price target of $1.50, down from $2. The company promised a clinical data update for ATRC-101 by the end of Q1, and what it provided yesterday "was quite underwhelming," the analyst tells investors in a research note. Stable disease was seen in around 50% of patients, but this is not a reliable signal of efficacy in the absence of other important markers, the analyst tells investors in a research note. The firm cites Atreca's "dwindling" cash position, high cost of capital and loss of its "investor mandate" for the downgrade. | ||||
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Atreca is continuing to… Atreca is continuing to enroll subjects in both the Q3W monotherapy and combination therapy cohorts at the 30 mg/kg dose level, with a focus on the recruitment of H-score high participants across tumor types. Additional data from the ongoing study will inform a future decision concerning whether to advance ATRC-101 into Phase 2 studies and in which indications. Atreca expects to report additional data from the Phase 1b study and provide details on its potential Phase 2 development plans by the end of 2023. "These results are encouraging and reinforce our belief in the therapeutic potential of ATRC-101. Importantly, they support the relationship we've observed between target expression and both ATRC-101's anti-tumor activity and duration of response," added Dr. Philippe Bishop, Chief Medical Officer of Atreca. "We look forward to providing a development update with go/no-go decisions later this year." | ||||
Reports that as of… Reports that as of December 31 cash and cash equivalents and investments totaled $70.5M. Research and development expenses for the year ended December 31 , were $66.8M, including non-cash share-based compensation expense of $7.9 million. Research and development expenses for the three months ended December 31 were $13.8M, including non-cash share-based compensation expense of $1.3M."Last year was a productive time for Atreca, with advances made in our discovery platform, preclinical programs, and ATRC-101," said John Orwin, Chief Executive Officer of Atreca. "Today we are pleased to report additional data from our ongoing Phase 1b trial, which show that ATRC-101 continues to be well tolerated, and that longer progression free survival was observed in patients with high target expression in this early trial. Patient enrollment based on target expression is ongoing in both the monotherapy and combination cohorts of the study and we expect to report additional data and go/no-go decisions for Phase 2 development toward the end of this year." "We believe these data further validate the ability of our proprietary platform to identify potentially valuable therapeutic antibodies against novel targets in oncology," Mr. Orwin added. "Continued investments in our discovery platform have accelerated the growth of our preclinical pipeline, and we look forward to nominating our next two clinical candidates later this year." | ||||
| Over a quarter ago | ||||
Atreca (BCEL) and Xencor… Atreca (BCEL) and Xencor (XNCR) announced, as part of their existing strategic collaboration, they have mutually selected the first program combining an Atreca-discovered antibody with Xencor's XmAb bispecific Fc domain and a cytotoxic T-cell binding domain, CD3. Under the terms of their 2020 collaboration, Atreca generates novel, tumor-binding antibodies from the immune responses of cancer patients and identifies the antibodies' targets. Xencor then engineers Atreca's antibodies into T-cell engaging bispecific antibodies that bind to and activate the CD3 co-receptor on T cells, and characterizes these novel XmAb bispecific antibodies to identify candidates for further development. The program announced today is the first of up to two joint programs that can be mutually selected for further development and commercialization, with each partner sharing 50% of costs and profits. Atreca will lead clinical development, regulatory and commercialization activities for this program, and the second potential joint program would be advanced by Xencor. In addition, the agreement allows for each partner to pursue up to two programs arising out of the collaboration independently. "The advancement of this program into joint development is a key milestone in our collaboration with Xencor," said Stephen Gould, Ph.D., Chief Scientific Officer of Atreca. "We continue to believe that our respective approaches have the potential to be highly complementary, given the abundance of novel antibody-target pairs generated by Atreca's discovery platform and the plug-and-play nature of Xencor's XmAb bispecific antibody platform. We are excited to continue working with Xencor to advance this program and generate additional programs combining Atreca antibodies and Xencor CD3 bispecific engineering." | ||||
Brookline analyst Kemp… Brookline analyst Kemp Dolliver assumed coverage of Atreca with a Buy rating and $8 price target. | ||||
Atreca announced the… Atreca announced the appointment of Philippe Bishop, MD, as Chief Medical Officer, or CMO, effective immediately. Dr. Bishop joins Atreca from Clover Biopharmaceuticals, a biotech company focused on the development of vaccines and biologics, where he served as CMO. "I believe that ATRC-101 has generated compelling data in the ongoing clinical study, validating the ability of Atreca's discovery platform to identify active tumor targeting antibodies. I'm excited to join a highly talented and dedicated team as we continue to develop ATRC-101 and begin to advance additional novel antibodies into the clinic.," said Dr. Bishop. | ||||
