ImmunityBio to Acquire Atara Biotherapeutics for $1B

TL;DR

IBIO buying ATRA for $1B cash/stock, closing Q3'24. Big oncology play.

AI Summary

ImmunityBio, Inc. announced on April 22, 2024, that it has entered into a definitive agreement to acquire Atara Biotherapeutics, Inc. for approximately $1.0 billion in cash and stock. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions. This strategic move aims to expand ImmunityBio's pipeline and commercial capabilities in the oncology space.

Why It Matters

This acquisition could significantly bolster ImmunityBio's position in the competitive oncology market by integrating Atara's CAR T platform and pipeline, potentially leading to new treatment options for cancer patients.

Risk Assessment

Risk Level: medium — The acquisition involves a significant financial commitment and integration risks, and its success depends on regulatory approvals and market reception of the combined entity's pipeline.

Key Numbers

• $1.0B — Acquisition Value (ImmunityBio's proposed acquisition of Atara Biotherapeutics.)
• Q3 2024 — Expected Closing (Anticipated timeframe for the completion of the acquisition.)

Key Players & Entities

• ImmunityBio, Inc. (company) — Acquiring company
• Atara Biotherapeutics, Inc. (company) — Target company
• $1.0 billion (dollar_amount) — Acquisition price
• April 22, 2024 (date) — Announcement date
• third quarter of 2024 (date) — Expected closing date

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share IBRX The Nasdaq Global Select

Filing Documents

• ibrx-20240422.htm (8-K) — 33KB
• ibrx-2024422x8kexhibit991.htm (EX-99.1) — 31KB
• ib_logoxfinalxcolorx02x2021.jpg (GRAPHIC) — 226KB
• 0001326110-24-000040.txt ( ) — 507KB
• ibrx-20240422.xsd (EX-101.SCH) — 2KB
• ibrx-20240422_lab.xml (EX-101.LAB) — 21KB
• ibrx-20240422_pre.xml (EX-101.PRE) — 12KB
• ibrx-20240422_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On April 22, 2024, ImmunityBio, Inc., a Delaware corporation (the "Company"), issued a press release announcing that the U.S. Food and Drug Administration approved Anktiva (N-803, or nogapendekin alfa inbakicept-pmln) plus Bacillus Calmette-Gurin ("BCG") for the treatment of adult patients with BCG-unresponsive non-muscle invasive bladder cancer with carcinoma in situ with or without papillary tumors. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated in this Item 7.01 by reference. The information contained in this Item 7.01, including the accompanying Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

01 Other Events

Item 8.01 Other Events. BLA Update On April 22, 2024, the U.S. Food and Drug Administration approved Anktiva (N-803, or nogapendekin alfa inbakicept-pmln) plus BCG for the treatment of adult patients with BCG-unresponsive non-muscle invasive bladder cancer with carcinoma in situ with or without papillary tumors. Potential Increase in Shares Authorized for Issuance under the ImmunityBio, Inc. 2015 Equity Incentive Plan The Company is currently considering and planning to include as a matter to be voted on by the Company's stockholders at its upcoming annual meeting, and to be set forth in the proxy statement to be filed in connection with such meeting (the "Proxy Statement"), a request to approve an amendment to the ImmunityBio, Inc. 2015 Equity Incentive Plan (the "2015 Plan") to increase the number of shares of the Company's common stock authorized for issuance under the 2015 Plan by up to an additional 19,900,000 shares (the "2015 Plan Proposal"). At this time, there can be no assurance that the 2015 Plan Proposal will be included in the Proxy Statement, or that the Company's stockholders will approve the 2015 Plan Proposal even if included.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . The documents listed below are filed or furnished with this Current Report on Form 8-K in each case as indicated therein (numbered in accordance with Item 601 of Regulation S-K). Exhibit Number Description of Exhibit 99.1** Press release dated April 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). _______________ ** Furnished herewith.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. IMMUNITYBIO, INC. Registrant Date: April 23, 2024 By: /s/ David C. Sachs David C. Sachs Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR