BUZZ-Atara Biotherapeutics falls after FDA puts clinical hold on cancer therapy trials

Shares of drug developer Atara Biotherapeutics ATRA.O fall 4.6% to $6.27 premarket

Co says the US FDA has placed a clinical hold on trials testing its experimental cancer cell therapies

The hold applies to studies of co's experimental cancer therapies, tabelecleucel, and ATA3219

Co says the hold is related to the issues observed at a third-party manufacturing facility

The FDA last week declined to approve its cancer therapy tabelecleucel to treat patients with a rare cancer that develops after organ or stem cell transplants, due to third-party manufacturing concerns

"Atara and FDA have discussed and agreed upon the actions necessary to release the clinical holds"- ATRA

Co says it has paused enrollment of new participants in the trials; adding that some participants "who have the potential to derive clinical benefit" can continue to receive treatment

Up last close, stock had fallen 63.2% in the past 12 months

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com;))