0001532346 False 0001532346 2022-08-08 2022-08-08 iso4217:USD xbrli:shares iso4217:USD xbrli:shares



Washington, D.C. 20549





Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  August 8, 2022


Atreca, Inc.

(Exact name of registrant as specified in its charter)


(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

835 Industrial Rd., Suite 400

San Carlos, California 94070

(Address of Principal Executive Offices) (Zip Code)

(650) 595-2595

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, $0.0001 par value per shareBCELThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02. Results of Operations and Financial Condition.

On August 8, 2022, Atreca, Inc. (the “Company”) issued a press release reporting its financial results for the quarter ended June 30, 2022 and recent corporate developments. A copy of such press release is furnished hereto as Exhibit 99.1. 

The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, nor shall it be deemed incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, except as expressly set forth by reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Exhibit Description
99.1 Press Release titled “Atreca Reports Second Quarter 2022 Financial Results and Recent Corporate Developments,” dated August 8, 2022, furnished herewith
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)


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.

 Atreca, Inc.
Date: August 8, 2022By: /s/ Herbert Cross        
  Herbert Cross
  Chief Financial Officer




Atreca Reports Second Quarter 2022 Financial Results and Recent Corporate Developments

SAN CARLOS, Calif., Aug. 08, 2022 (GLOBE NEWSWIRE) -- Atreca, Inc. (Atreca) (NASDAQ: BCEL), a clinical-stage biotechnology company focused on developing novel therapeutics generated through a unique discovery platform based on interrogation of the active human immune response, today announced financial results for the second quarter ended June 30, 2022 and provided an overview of recent developments.

"While we took steps during the second quarter to extend our cash runway through the end of 2023, we remain committed to the development of ATRC-101 and ATRC-301, as well as the advancement of our earlier-stage pipeline and the discovery of additional novel tumor-targeting lead antibodies using our platform. This is underscored by our hiring of Dr. Stephen Gould as Atreca’s new Chief Scientific Officer,” said John Orwin, Chief Executive Officer of Atreca. “We are looking forward to an eventful second half of 2022, as we anticipate reporting updated data from the monotherapy and pembrolizumab combination arms of our Phase 1b clinical trial of ATRC-101, as well as initial toxicology data from our second clinical candidate, ATRC-301.”

Recent Developments and Highlights

In June 2022, Atreca appointed Stephen Gould, Ph.D. as Chief Scientific Officer. Dr. Gould joined Atreca following 15 years at Genentech, where he most recently served as Executive Director, Translational Oncology leading a team focused on developing tumor-specific antibodies weaponized with immune-targeting arms or drug payloads for use in both hematologic and solid tumors, including two approved oncology therapeutics.

Enrollment of participants based on ATRC-101 target expression in archival or newly obtained biopsies is ongoing in the Phase 1b clinical trial. To date, 62 total participants have been enrolled in the monotherapy and pembrolizumab-combination cohorts of the trial. Atreca expects to report updated data from the trial in the second half of 2022.

In addition, Atreca has initiated manufacturing activities for the ATRC-301 program to support filing an IND planned for late 2023, and Atreca anticipates reporting preliminary toxicology data in the second half of 2022.

Second Quarter 2022 Financial Results

About Atreca, Inc.

Atreca is a biopharmaceutical company developing novel antibody-based immunotherapeutics generated by its differentiated discovery platform. Atreca's platform allows access to an unexplored landscape in oncology through the identification of unique antibody-target pairs generated by the human immune system during an active immune response against tumors. These antibodies provide the basis for first-in-class therapeutic candidates, such as our lead product candidate ATRC-101, a monoclonal antibody targeting a novel ribonucleoprotein complex, as well as ATRC-301, an antibody drug conjugate targeting a novel epitope on EphA2. A Phase 1b study evaluating ATRC-101 in multiple solid tumor cancers is currently enrolling patients, and ATRC-301 is in IND-enabling studies. For more information on Atreca, please visit www.atreca.com.

Forward-Looking Statements

This release contains forward-looking statements regarding our ability to successfully extend our cash runway through the end of 2023, our strategy and future plans, including statements regarding the development of ATRC-101 and ATRC-301 as well as the advancement of our earlier-stage pipeline and the discovery of additional novel tumor-targeting lead antibodies using our platform, our clinical and regulatory plans, data read-outs and the timing thereof, including the reporting of updated data from the monotherapy and pembrolizumab combination arms of our Phase 1b clinical trials of ATRC-301 in the second half of 2022 as well as initial toxicology data from ATRC-301 in the second half of 2022, and our manufacturing activities for the ATRC-301 program support filing an IND planned for late 2023. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as “commit,” “advance,” “anticipate,” and “expect,” and similar words, although some forward-looking statements are expressed differently. Our actual results may differ materially from those indicated in these forward-looking statements due to risks and uncertainties related to the initiation, timing, progress and results of our research and development programs, preclinical studies, clinical trials, regulatory submissions, and other matters that are described in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) and available on the SEC's website at www.sec.gov, including the risk factors set forth therein. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update any forward-looking statement in this press release, except as required by law.

Atreca, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share data)

  June 30,   December 31, 
     2022  2021 
Current Assets      
Cash and cash equivalents $         26,446  $            94,746 
Investments            75,286                22,287 
Prepaid expenses and other current assets              7,907                  5,337 
Total current assets          109,639              122,370 
Property and equipment, net            40,801                43,015 
Operating lease right-of-use assets            36,893                       -   
Long-term investments                   -                  31,042 
Deposits and other              3,497                  3,630 
Total assets $        190,830  $          200,057 
Current Liabilities      
Accounts payable  $           2,041  $              3,352 
Accrued expenses              7,885                11,555 
Current portion of operating lease liabilities              3,327                       -   
Other current liabilities                 216                  1,992 
Total current liabilities            13,469                16,899 
Deferred rent                   -                  28,229 
Operating lease liabilities, net of current portion            62,158   -  
Total liabilities            75,627                45,128 
Stockholders’ equity
Common stock                    4                        4 
Additional paid-in capital          528,380              514,794 
Accumulated other comprehensive income (loss)               (661)                  (102)
Accumulated deficit         (412,520)             (359,767)
Total stockholders’ equity           115,203              154,929 
Total liabilities and stockholders’ equity  $        190,830  $          200,057 

Atreca, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)

($ amounts in 000's, except per share amounts)            
  Three Months Ended
 Six Months Ended
  June 30,
 June 30,
Research and development $       19,953  $       19,036  $       37,017  $       37,424 
General and administrative 8,077  8,031  16,683  15,852 
Total expenses 28,030  27,067  53,700  53,276 
Interest and other income (expense)            
Other income -  349  750  693 
Interest income 153  55  197  145 
Loss on disposal of property and equipment -  (11) -  (11)
Loss before Income tax expense (27,877) (26,674)  (52,753) (52,449)
Income tax expense -  (1)  -  (1)
Net loss $      (27,877)  $      (26,675)  $      (52,753)  $      (52,450)
Net loss per share, basic and diluted $         (0.72)  $         (0.72)  $         (1.38)  $         (1.42)
Weighted-average shares used in computing             
net loss per share, basic and diluted 38,591,436  36,893,827  38,288,831  36,867,592 


Atreca, Inc.
Herb Cross
Chief Financial Officer

Alex Gray, 650-779-9251

Julia Fuller, 858-692-2001
Source: Atreca, Inc.