Greg Ciongoli appointed as new chair of Atara Biotherapeutics board

THOUSAND OAKS, Calif. - Atara Biotherapeutics, Inc. (NASDAQ:ATRA), whose stock has delivered an impressive 85% return over the past year according to InvestingPro data, announced Wednesday that Greg Ciongoli will assume the role of Chair of the Board of Directors, according to a company press release.

Ciongoli, who is the founder and managing partner of Adiumentum Capital Management, has served as a Director at Atara since 2024. He will also serve as a member of the Nominating and Corporate Governance Committee.

The T-cell immunotherapy company also announced that three board members—Pascal Touchon, Maria Grazia Roncarolo, M.D., and Ameet Mallik—are stepping down from their positions. The company stated this change reflects Atara’s reduced size and aims to "right-size" the board in line with the company’s smaller operational footprint.

"I am honored to serve as Board Chair of Atara," Ciongoli said in the statement. He noted that the company’s Biologics License Application (BLA) was recently accepted by the FDA and referenced the company’s "greatly reduced operating costs." InvestingPro analysis suggests the company is currently undervalued, with analysts projecting profitability this year. Subscribers can access 10+ additional exclusive insights about Atara’s financial health and growth prospects.

Cokey Nguyen, President and Chief Executive Officer of Atara, expressed gratitude to the departing board members for their service to the company and its shareholders.

Atara Biotherapeutics focuses on developing off-the-shelf cell therapies for cancer and autoimmune conditions. The company claims to be the first in the world to receive regulatory approval of an allogeneic T-cell immunotherapy, which targets Epstein-Barr virus (EBV).

The announcement comes as the company positions itself to consider options for its Ebvallo milestones and royalties, as well as its allogeneic CAR T portfolio, according to the press release.

In other recent news, Atara Biotherapeutics announced that the U.S. Food and Drug Administration (FDA) has accepted its Biologics License Application (BLA) for tabelecleucel (tab-cel) with priority review status. This application is aimed at treating Epstein-Barr virus positive post-transplant lymphoproliferative disease (EBV+ PTLD) in patients who have undergone at least one prior therapy. The FDA has set a target action date under the Prescription Drug User Fee Act for January 10, 2026. In related developments, Atara Biotherapeutics has resubmitted the BLA to address manufacturing facility observations noted in a Complete Response Letter from January 2025. Approval of this application would mark tab-cel as the first FDA-approved therapy for this condition and result in a $40 million milestone payment from its partner, Pierre Fabre Laboratories. Additionally, Mizuho has adjusted its price target for Atara Biotherapeutics from $18.00 to $16.00, maintaining an Outperform rating due to the revised timeline for tab-cel’s potential U.S. launch. These recent developments highlight significant progress and adjustments in Atara Biotherapeutics’ strategic plans.

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