Protara Secures $75M Funding Round To Fast-Track TARA-002 Development And Expand Clinical Portfolio

Protara Therapeutics Inc. (TARA) has priced a substantial $75 million capital raise through an underwritten public offering, issuing 13 million shares at $5.75 per share. The move triggered an immediate market reaction, with shares declining more than 18% to $5.55 in premarket activity on Friday. Underwriters hold a 30-day option to acquire an additional 1.95 million shares at the same price, potentially bringing total capital raised closer to $86.2 million including the option exercise.

Strategic Allocation: Prioritizing TARA-002 Pipeline Advancement

The company intends to deploy the net proceeds toward clinical advancement of its lead therapeutic candidate TARA-002, a cell therapy derived from Streptococcus pyrogenes designed for treating non-muscle invasive bladder cancer (NMIBC) and lymphatic malformations (LMs). Beyond TARA-002, Protara will channel resources into additional clinical development initiatives, operational requirements, and corporate functions.

TARA-002 is actively undergoing evaluation in a Phase 2 open-label clinical trial focused on pediatric lymphatic malformations. The investigational therapy has earned significant regulatory backing, having received Rare Pediatric Disease designation from the FDA and Orphan Drug designation from the European Commission for its LM indication.

Broadening The Therapeutic Arsenal

Beyond TARA-002, Protara is progressing development of IV Choline Chloride, an investigational treatment targeting patients requiring parenteral nutritional support. This asset has secured dual regulatory advantages: Orphan Drug Designation and Fast Track Designation from the FDA, positioning it for accelerated development timelines.

Stock Performance Context

The equity offering concludes on or around December 8, 2025, pending standard regulatory conditions. Over the preceding 12 months, TARA traded within a range of $2.77 to $7.82 per share. Friday’s previous close registered at $6.87, reflecting a 1.03% gain before the dilutive financing announcement.