By Ben Glickman
Shares of Atara Biotherapeutics tumbled on Wednesday after the company said its treatment for non-active progressive multiple sclerosis failed to meet the primary endpoint in its trial.
The stock was down 55% to 55 cents in after-hours trading, following a 9% drop at Wednesday’s close. Shares are down 63% this year.
The Thousand Oaks, Calif.-based immunotherapy company said it was considering strategic options for the treatment, and would reduce its spending on the drug.
The company said it is reviewing the data from the trial to help decide which steps to take next.
Write to Ben Glickman at ben.glickman@wsj.com
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