Welcome to our dedicated page for Protara Therapeutics news (Ticker: TARA), a resource for investors and traders seeking the latest updates and insights on Protara Therapeutics stock.
Protara Therapeutics, Inc. (symbol: TARA) is a clinical-stage biopharmaceutical company specializing in identifying and advancing transformative therapies for individuals afflicted with rare and specialty diseases. Headquartered in New York, New York, the company’s mission is to discover, develop, and deliver breakthrough treatments for patients who have limited therapeutic options.
Protara’s leading program is TARA-002, an investigational cell therapy designed for the treatment of lymphatic malformations (LMs), a condition characterized by fluid-filled cysts. In a significant advancement for the company, TARA-002 has been granted the Rare Pediatric Disease designation by the U.S. Food and Drug Administration (FDA), spotlighting its potential impact on pediatric patients.
Another key asset in Protara’s pipeline is the development of intravenous (IV) choline chloride, a phospholipid substrate replacement therapy aimed at treating Intestinal Failure-Associated Liver Disease (IFALD). This investigational therapy underscores the company's commitment to addressing critical needs in the realm of pediatric and adult rare diseases.
The company's history dates back to its former identity as Artara Therapeutics, Inc. The name change to Protara Therapeutics, Inc. occurred in May 2020, reflecting a refreshed vision and strategic direction.
Protara’s forward-looking strategies are built upon solid research and development foundations, extensive clinical trial engagements, and meaningful partnerships. With recent financial updates, the company has ensured that its cash reserves, bolstered by anticipated net proceeds, can sustain its strategic plans into 2026. This financial planning provides a stable runway for Protara to continue its pioneering work and achieve significant milestones.
The company is actively involved in various clinical trials and regulatory interactions, aiming to bring its innovative therapies to market. Protara’s operational transparency and forward-looking statements indicate a robust business strategy focused on long-term growth and patient success.
For the latest updates on Protara Therapeutics, including performance, events, and developments, visit Protara Therapeutics or contact their offices directly at Justine O'Malley, Justine.OMalley@protaratx.com, 646-817-2836.
Protara Therapeutics (Nasdaq: TARA) announced results from THRIVE-1, a study evaluating choline deficiency and liver injury in patients dependent on parenteral support (PS). Key findings:
- 78% of PS-dependent patients were choline deficient
- 63% of choline-deficient participants had liver dysfunction
These results underscore the need for intravenous (IV) choline supplementation. Protara is developing IV Choline Chloride as a treatment when oral or enteral nutrition is insufficient. The company plans to initiate a registrational trial in Q1 2025. Currently, there are no approved IV choline products for PS-dependent patients globally, despite recommendations from medical societies.
Protara Therapeutics (Nasdaq: TARA), a clinical-stage company focused on developing therapies for cancer and rare diseases, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The company's management will present on Monday, September 9, 2024, at 1:30 pm ET in New York.
Investors and interested parties can access a live webcast of the presentation through the Events and Presentations section of Protara's website at https://ir.protaratx.com. The webcast will be available for a time after the presentation concludes, providing an opportunity for those unable to attend the live event to catch up on the company's latest developments and strategic outlook.
Protara Therapeutics (Nasdaq: TARA) reported Q2 2024 financial results and provided a business update. Key highlights include:
1. On track to report preliminary data from ADVANCED-2 trial of TARA-002 in NMIBC in Q4 2024.
2. Expect to dose first patient in pivotal trial for IV Choline Chloride in Q1 2025.
3. Cash resources of ~$90 million, expected to fund operations into 2026.
4. Q2 2024 net loss of $9.5 million, or $0.45 per share, compared to $11.3 million, or $1.00 per share, in Q2 2023.
5. R&D expenses decreased to $6.4 million from $7.2 million year-over-year.
6. G&A expenses decreased to $4.3 million from $4.9 million year-over-year.
Protara Therapeutics (Nasdaq: TARA) announced the grant of inducement non-qualified stock options to Lisa Schlesinger, the new VP, Head of New Product Development and Market Access. She was awarded options to purchase 118,400 shares at $2.23 per share, Protara's closing price on June 24, 2024. The options vest over four years with 25% vesting after one year, and the remaining 75% vesting monthly over the following three years, contingent on continued service. The grant was approved by Protara's independent Board members under NASDAQ Listing Rule 5635(c)(4).
Protara Therapeutics (Nasdaq: TARA) announced its participation in the TD Cowen 5th Annual Oncology Innovation Summit. The company, focused on developing transformative therapies for cancer and rare diseases, will have its management team engage in a virtual fireside chat on May 28, 2024, at 3:00 pm ET. This event will be available via live webcast through Protara's website and archived temporarily after the presentation.
Protara Therapeutics, Inc. announced positive three-month data from TARA-002 clinical program in NMIBC, aligned with FDA on IV Choline Chloride path forward, and closed $45.0 million private placement. Cash resources expected to fund operations into 2026. Financially, cash, cash equivalents, and investments total $55.2 million, with $7.7 million increase in R&D expenses and $4.1 million decrease in G&A expenses for Q1 2024.
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