BCEL Atreca Inc

On June 1, 2022, Atreca, Inc. (the “Company”) implemented and announced a corporate reorganization of its operations. In connection with the reorganization, the Company undertook a workforce reduction of more than 25%, including both current employees and open positions, and expects to record severance and employee benefits charges of approximately $0.7 million in the quarter ending June 30, 2022. As a result of the corporate reorganization, the Company believes its existing cash, cash equivalents and investments will be sufficient to fund its operating and capital needs through 2023. The Company will remain focused on the development of ATRC-101, ATRC-301, and its other preclinical oncology programs, and will continue its efforts to generate new lead antibodies against tumor specific targets utilizing its proprietary discovery platform.

Forward-Looking Statements

Statements contained in this report regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “believe, “will,” “remain,” “continue” and similar words are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our strategy and future plans; expected severance and employee benefits charges in the quarter ending June 30, 2022; our ability to fund our operating and capital needs through 2023; and our development of ATRC-101, ATRC-301, and our preclinical and clinical plans. 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 report, and we undertake no obligation to update any forward-looking statement in this report, except as required by law.