Announcement • Jun 06
Atreca, Inc. Announces Resignation of Franklin Berger from the Board On May 13, 2024, Mr. Franklin Berger resigned from the board of Atreca, Inc. Accordingly, Mr. Berger now serves on the boards of directors of three other public companies in addition to the Atea Board (Satellos Bioscience Inc., ESSA Pharma Inc., and Kezar Life Sciences, Inc.). Announcement • May 21
Immunome, Inc. (NasdaqCM:IMNM) completed the acquisition of Substantially all Assets of Atreca, Inc. (NasdaqGS:BCEL). Immunome, Inc. (NasdaqCM:IMNM) entered into an agreement to acquire Substantially all Assets of Atreca, Inc. (NasdaqGS:BCEL) for $12.5 million on December 22, 2023. Pursuant to the agreement, Immunome will pay an aggregate purchase price of up to $12.5 million in cash, with $5.5 million due to the Atreca at the closing of the agreemeny and up to $7 million due upon the achievement of certain clinical-based milestone. The agreement have been unanimously approved by the board of directors of the Atreca. The agreement must also be approved by the Atreca’s stockholders, as a condition to the closing. In certain circumtances Atreca will pay a termination fee of $0.5 million to Immunome. Transaction is expected to close in the second quarter of 2024. John T. McKenna and Matthew Silverman of Cooley LLP acted as legal advisor to Atreca. Kingsley Taft and Steven Green of Goodwin Procter LLP acted as legal advisor to Immunome.Immunome, Inc. (NasdaqCM:IMNM) completed the acquisition of Substantially all Assets of Atreca, Inc. (NasdaqGS:BCEL) on May 20, 2024. Announcement • Apr 02
Atreca, Inc. Files Form 15 Atreca, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Class A Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Class A Common Stock was $0.0001 per share. Announcement • Mar 21
Atreca, Inc.(OTCPK:BCEL) dropped from S&P TMI Index Atreca, Inc.(OTCPK:BCEL) dropped from S&P TMI Index Announcement • Mar 19
Atreca, Inc.(OTCPK:BCEL) dropped from NASDAQ Composite Index Atreca, Inc. has been dropped from NASDAQ Composite Index . Announcement • Mar 12
Atreca, Inc. Receives Written Notification from Nasdaq Regarding Minimum Bid Requirement As previously reported, on September 8, 2023, Atreca, Inc. (the Company") received written notification (the Initial Notice") from The Nasdaq Stock Market LLC (Nasdaq") notifying it that on September 7, 2023, the average closing price of the Company's Class A common stock, $0.0001 par value per share (the Class A Common Stock"), over the prior 30 consecutive trading days had fallen below $1.00 per share, which is the minimum average closing price required to maintain listing on Nasdaq under Nasdaq Listing Rule 5450(a)(1) (the Minimum Bid Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company had 180 calendar days from the date of the Initial Notice, or March 6, 2024, to regain compliance with the Minimum Bid Requirement (the Grace Period"), subject to a potential 180-day extension. To regain compliance, the closing bid price of the Class A Common Stock must have been at least $1.00 per share for a minimum of ten consecutive business days within the Grace Period. On March 8, 2024, the Company received written notification from Nasdaq indicating that it had failed to achieve compliance with the Minimum Bid Requirement prior to the expiration of the Grace Period, and therefore the Class A Common Stock will be delisted from trading on Nasdaq. The Company does not intend to request an extension of the Grace Period or any administrative hearing to delay such delisting. As a result, the Class A Common Stock will be suspended from trading at the opening of business on March 19, 2024. Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission (the SEC") to remove the Class A Common Stock from listing and registration, though Nasdaq has not specified the date on which the Form 25-NSE will be filed. If Nasdaq has not filed the Form 25-NSE by March 20, 2024, the Company intends to file a Form 25 with the SEC on such date to remove the Class A Common Stock from listing and registration on Nasdaq. The Company plans to file a Form 15with the SEC to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, shortly thereafter. The Company expects that its Class A Common Stock will be eligible to be quoted over-the-counter," however, no assurance can be given that quotation of the Class A Common Stock will be commenced or maintained on an over-the-counter market or any other quotation medium. New Risk • Feb 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$65m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$65m free cash flow). Share price has been highly volatile over the past 3 months (44% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (US$9.75m market cap). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$51m net loss in 3 years). Board Change • Nov 10
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. Independent Director Stacey Ma was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 23
Atreca, Inc. Announces Resignation of Herbert Cross, Chief Financial Officer Atreca, Inc. announced that on September 15, 2023, Herbert Cross, Chief Financial Officer of the Company, resigned from his position, effective September 22, 2023, to pursue a new business opportunity. Mr. Cross' resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. The Company thanks Mr. Cross for his contributions and wishes him well in his future endeavors. In connection with Mr. Cross’ resignation, John A. Orwin, Chief Executive Officer of the Company, was appointed to serve as the principal financial officer of the Company, effective as of the Separation Date. Announcement • Sep 22
Atreca, Inc. Appoints Rick Ruiz as the Principal Accounting Officer Atreca, Inc. announced that In addition, in connection with Mr. Cross’ resignation, on September 17, 2023, the Board of Directors of the Company (the “Board”) approved the appointment of Rick Ruiz, Vice President of Finance of the Company, to serve as the principal accounting officer of the Company, effective as of the Separation Date. Mr. Ruiz, age 59, is an experienced financial professional with a demonstrated history of working in the biotechnology industry and extensive expertise in budgeting, accounting, corporate financial planning and analysis, and internal controls. Prior to his appointment as principal accounting officer of the Company, Mr. Ruiz served as the Company’s Vice President of Finance since September 2018. Prior to joining the Company, Mr. Ruiz served as a consultant at RoseRyan, Inc., a leading finance and accounting advisory firm from March 2014 to September 2018. Mr. Ruiz received a B.S. in Business, Accounting from Biola University. Announcement • Sep 16
Atreca Receives Notice from the Nasdaq Stock Market On September 8, 2023, Atreca, Inc. received notice from The Nasdaq Stock Market LLC notifying it that on September 7, 2023, the average closing price of the Company's Class A common stock, $0.0001 par value per share, over the prior 30 consecutive trading days had fallen below $1.00 per share, which is the minimum average closing price required to maintain listing on Nasdaq under Nasdaq Listing Rule 5450(a)(1). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days to regain compliance with the Minimum Bid Requirement, subject to a potential 180 calendar day extension. To regain compliance, the closing bid price of the Class A Common Stock must be at least $1.00 per share for a minimum of ten consecutive business days within the Grace Period. If the Company does not achieve compliance with the Minimum Bid Requirement by March 6, 2024, the end of the Grace Period, it may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of its publicly held shares and all other Nasdaq initial listing standards, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split if necessary. However, if it appears to Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company does not meet the other Nasdaq listing standards, Nasdaq could provide notice that the Class A Common Stock will be subject to delisting. In the event the Company receives notice that the Class A Common Stock is being delisted, the Company would be entitled to appeal the determination to a Nasdaq Listing Qualifications Panel and request a hearing. The Company intends to actively monitor the closing bid price of the Class A Common Stock and will evaluate available options to regain compliance with the Minimum Bid Requirement. There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Requirement or maintain compliance with the other listing requirements. The notice has no immediate effect on the listing or trading of the Class A Common Stock, which will continue to be listed and traded on Nasdaq, subject to the Company's compliance with the other Nasdaq listing standards. Announcement • Aug 12
Atreca, Inc. Reduces its Workforce by Approximately 40% Atreca, Inc. announced a corporate reorganization to reduce expenses and extend its cash runway. As part of the reorganization, Atreca will be undertaking cost-saving measures, including suspending development of ATRC-101 and reducing its workforce by approximately 40%. Going forward operations will focus on advancing current preclinical antibody-drug conjugate (ADC) candidates, including APN-497444, while preserving core discovery capabilities. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$65m free cash flow). Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$122m net loss in 3 years). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (US$21.8m market cap). Announcement • Jun 06
Atreca, Inc. Presents Data from Ongoing Phase 1b Study of ATRC-101 in Patients with Select Advanced Solid Tumors During Oral Abstract Atreca, Inc. announced that Dr. Bartosz Chmielowski, Health Sciences Clinical Professor of Medicine in the Division of Hematology-Oncology at the University of California Los Angeles, presented safety and efficacy data from the ongoing Phase 1b study of ATRC-101 in patients with select advanced solid tumors cancer during an oral abstract session on Sunday, June 4 at the American Society of Clinical Oncology (ASCO) 2023 Annual Meeting. The presentation provided a summary of clinical data collected as of a February 17, 2023, data cut-off date. A Phase 1b study evaluating ATRC-101 in multiple solid tumor cancers is currently enrolling patients. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 4 highly experienced directors. Independent Director Stacey Ma was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 30
Price target decreased by 24% to US$9.44 Down from US$12.44, the current price target is an average from 8 analysts. New target price is 721% above last closing price of US$1.15. Stock is down 64% over the past year. The company is forecast to post a net loss per share of US$1.99 next year compared to a net loss per share of US$2.52 last year. Announcement • Jan 10
Atreca, Inc. Announces the Appointment of Philippe Bishop, MD, as Chief Medical Officer Atreca, Inc. announced the appointment of Philippe Bishop, MD, as Chief Medical Officer, effective January 9, 2023. Dr. Bishop joins Atreca from Clover Biopharmaceuticals, a global biotech company focused on the development of vaccines and biologics, where he served as CMO. Previously, he was Executive Vice President and CMO at aratinga.bio, a developer of novel cancer immunotherapies. Before founding aratinga.bio in 2017, Dr. Bishop was Senior Vice President Hematology /Oncology at Gilead Sciences and held clinical development roles at Genentech, Johnson & Johnson and Sanofi-Aventis. Prior to his industry career, he held leadership positions at the U.S. Food and Drug Administration and National Institutes of Health. Dr. Bishop received his M.D. from the University of Nevada School of Medicine followed by a residency in internal medicine at the University of Washington School of Medicine and a medical oncology fellowship at the National Cancer Institute. In connection with Dr. Bishop’s appointment, Atreca granted Dr. Bishop an option to purchase 350,000 shares of Atreca Class A common stock with an exercise price based on the closing price per share of Atreca Class A common stock as reported on the Nasdaq Stock Market as of January 9, 2023, the effective date of the grant and the start date of Dr. Bishop’s employment. The option is a non-qualified stock option and vests over a period of four years, with 25% vesting on the one year anniversary of the grant date and the remaining 75% vesting on a monthly basis over three years, subject to Dr. Bishop’s continuous service through each vesting date. This award was granted as an inducement material to Dr. Bishop entering into employment with Atreca in accordance with Nasdaq Listing Rule 5635(c)(4). Price Target Changed • Nov 16
Price target increased to US$15.57 Up from US$14.11, the current price target is an average from 7 analysts. New target price is 959% above last closing price of US$1.47. Stock is down 72% over the past year. The company is forecast to post a net loss per share of US$2.58 next year compared to a net loss per share of US$2.95 last year. Price Target Changed • May 14
Price target decreased to US$16.63 Down from US$19.56, the current price target is an average from 10 analysts. New target price is 908% above last closing price of US$1.65. Stock is down 83% over the past year. The company is forecast to post a net loss per share of US$2.65 next year compared to a net loss per share of US$2.95 last year. Recent Insider Transactions Derivative • Mar 11
Founder notifies of intention to sell stock Tito Serafini intends to sell 30k shares in the next 90 days after lodging an Intent To Sell Form on the 4th of March. If the sale is conducted around the recent share price of US$1.67, it would amount to US$50k. Since March 2021, Tito's direct individual holding has decreased from 353.88k shares to 323.88k. There has only been one transaction (US$60k sale) from insiders over the last 12 months. Price Target Changed • Feb 08
Price target decreased to US$19.56 Down from US$22.00, the current price target is an average from 10 analysts. New target price is 980% above last closing price of US$1.81. Stock is down 90% over the past year. The company is forecast to post a net loss per share of US$2.89 next year compared to a net loss per share of US$2.70 last year. Recent Insider Transactions Derivative • Oct 01
Founder notifies of intention to sell stock Tito Serafini intends to sell 60k shares in the next 90 days after lodging an Intent To Sell Form on the 27th of September. If the sale is conducted around the recent share price of US$6.71, it would amount to US$403k. Since December 2020, Tito's direct individual holding has decreased from 383.88k shares to 353.88k. Company insiders have collectively sold US$259k more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Jul 31
Price target decreased to US$25.33 Down from US$29.89, the current price target is an average from 10 analysts. New target price is 361% above last closing price of US$5.49. Stock is down 58% over the past year. Executive Departure • Apr 01
Chief Scientific Officer has left the company On the 31st of March, Norman Greenberg's tenure as Chief Scientific Officer ended after 5.9 years in the role. As of December 2020, Norman personally held 5.00k shares (US$81k worth at the time). A total of 2 executives have left over the last 12 months. Executive Departure • Mar 12
Chief Business Officer has left the company On the 12th of March, Lisa Decker's tenure as Chief Business Officer ended after 1.7 years in the role. We don't have any record of a personal shareholding under Lisa's name. Lisa is the only executive to leave the company over the last 12 months. Is New 90 Day High Low • Jan 30
New 90-day low: US$13.00 The company is down 3.0% from its price of US$13.36 on 30 October 2020. The American market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 25% over the same period. Recent Insider Transactions Derivative • Jan 17
Co-Founder notifies of intention to sell stock Tito Serafini intends to sell roughly 30.00k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of January. If the sale is conducted around the recent share price of US$15.29, it would amount to US$459k. Since March 2020, Tito's direct individual holding has decreased from 484.48k shares to 373.88k. Company insiders have collectively sold US$1.4m more than they bought, via options and on-market transactions in the last 12 months. Is New 90 Day High Low • Dec 09
New 90-day high: US$15.82 The company is up 14% from its price of US$13.92 on 09 September 2020. The American market is also up 14% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Biotechs industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions Derivative • Oct 17
Director notifies of intention to sell stock William Robinson intends to sell roughly 15.00k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of October. If the sale is conducted around the recent share price of US$15.51, it would amount to US$233k. Since March 2020, William's direct individual holding has decreased from 444.55k shares to 398.95k. Company insiders have collectively sold US$1.4m more than they bought, via options and on-market transactions in the last 12 months. Is New 90 Day High Low • Oct 14
New 90-day high: US$15.79 The company is up 6.0% from its price of US$14.89 on 16 July 2020. The American market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.