Form 8-K
0001532346 False 0001532346 2021-11-02 2021-11-02 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):  November 2, 2021


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 November 2, 2021, Atreca, Inc. (the “Company”) issued a press release reporting its financial results for the quarter ended September 30, 2021 and its 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 under the Securities Act of 1933, as amended, or 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 Third Quarter 2021 Financial Results and Recent Corporate Developments,” dated November 2, 2021, 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: November 2, 2021By: /s/ Herbert Cross        
  Herbert Cross
  Chief Financial Officer




Atreca Reports Third Quarter 2021 Financial Results and Recent Corporate Developments

SAN CARLOS, Calif., Nov. 02, 2021 (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 third quarter ended September 30, 2021, and provided an overview of recent developments.

"In the third quarter, we continued to advance our lead program, ATRC-101, following the release of initial summary data from the dose escalation portion of the Phase 1b trial, which supports the further evaluation of ATRC-101 in multiple solid tumor types,” said John Orwin, Chief Executive Officer. “We plan to share additional monotherapy data and initial combination data with pembrolizumab in 2022, and are in a strong position to advance our pipeline with cash runway through mid-2023.”

“Our earlier-stage programs are progressing well, highlighted by our recently announced licensing agreement with the Bill & Melinda Gates Medical Research Institute for the development and commercialization of MAM01/ATRC-501, a novel monoclonal antibody entering preclinical development for the prevention of malaria,” said Tito Serafini, Ph.D., Chief Strategy Officer. “We look forward to sharing more information on our EphA2 program and other pipeline assets at an R&D day early next year.”

Recent Developments and Highlights

Third Quarter 2021 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 Phase 1b study evaluating ATRC-101 in multiple solid tumor cancers is currently enrolling patients. For more information on Atreca, please visit

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and typically are identified by use of terms such as “will,” “expect,” “potential,” “plan,” “continue,” and similar words, although some forward-looking statements are expressed differently. These statements include those related to our strategy and future plans, including statements regarding the development of ATRC-101 and our preclinical, clinical and regulatory plans and the timing thereof, the availability and timing of ATRC-101 monotherapy and initial combination data with pembrolizumab and enrollment in, and timing of, a combination cohort with pegylated liposomal doxorubicin, our cash runway and the timing thereof, the development of MAM01/ATRC-501, its potential for prevention of malaria, our potential product development opportunities to develop MAM01/ATRC-501 for prevention of malaria for those traveling to regions where the infection may be circulating, and the status of our earlier-stage programs and our plan to share information regarding our EphA2 program and other pipeline assets and the timing thereof. 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 filings with the Securities and Exchange Commission (SEC) and available on the SEC’s website at, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed annual report on Form 10-K and quarterly report on Form 10-Q. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press 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)

  September 30, December 31,
   2021   2020 
Current Assets
Cash and cash equivalents $113,189  $60,789 
Investments  39,697   179,296 
Prepaid expenses and other current assets  9,180   9,037 
Total current assets  162,066   249,122 
Property and equipment, net  44,291   19,831 
Long-term investments  10,824   - 
Deposits and other  3,080   3,111 
Total assets $220,261  $272,064 
Current Liabilities
Accounts payable $5,238  $5,216 
Accrued expenses  9,286   10,302 
Other current liabilities  1,631   1,900 
Total current liabilities  16,155   17,418 
Capital lease obligations, net of current portion  -   4 
Deferred rent  28,677   12,585 
Total liabilities  44,832   30,007 
Stockholders’ equity
Common stock  4   4 
Additional paid-in capital  505,680   492,436 
Accumulated other comprehensive income (loss)  (6)  58 
Accumulated deficit  (330,249)  (250,441)
Total stockholders’ equity  175,429   242,057 
Total liabilities and stockholders’ equity $220,261  $272,064 

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 Nine Months Ended
   September 30, September 30,
    2021   2020   2021   2020 
 Research and development $18,721  $16,808  $56,145  $45,198 
 General and administrative  8,796   6,614   24,648   20,195 
 Total expenses  27,517   23,422   80,793   65,393 
Interest and other income (expense)        
 Other income  158   353   851   987 
 Interest income  36   142   183   1,082 
 Interest expense  (1)  (1)  (3)  (3)
 Loss on disposal of property and equipment  (34)  -   (45)  - 
Loss before Income tax expense  (27,358)  (22,928)  (79,807)  (63,327)
Income tax expense  -   (1)  (1)  (1)
Net loss $(27,358) $(22,929) $(79,808) $(63,328)
Net loss per share, basic and diluted $(0.74) $(0.66) $(2.16) $(2.09)
Weighted-average shares used in computing        
net loss per share, basic and diluted  36,918,255   34,723,888   36,884,665   30,313,047 


Atreca, Inc.
Herb Cross
Chief Financial Officer

Alex Gray, 650-779-9251

Rachel Ford Hutman, 301-801-5540

Source: Atreca, Inc.