Business
Protara Therapeutics Announces First Quarter 2023 Financial Results and Business Update
Favorable tolerability and anti-tumor activity observed in NMIBC patients treated with TARA-002 in ADVANCED-1 trialCompany plans to initiate ADVANCED-2 trial
About this update from Protara Therapeutics, Inc.
[{"type":"text","content":"Favorable tolerability and anti-tumor activity observed in NMIBC patients treated with TARA-002 in ADVANCED-1 trialCompany plans to initiate ADVANCED-2 trial in BCG-naïve CIS patients and BCG-unresponsive CIS patients in 2H23 Regulatory clearance received from FDA to commence Phase 2 trial of TARA-002 in Lymphatic Malformations; trial expected to initiate in Q423Continue to expect cash, cash equivalents and investments of $90M as of March 31, 2023 to fund operations into 2025 NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases, today announced financial results for the first quarter ended March 31, 2023 and provided a business update. “We are off to a strong start in 2023, notably with the recent presentation of positive preliminary data from the dose escalation portion of the ADVANCED-1 trial of TARA-002 in patients with high-grade non-muscle invasive bladder cancer (NMIBC) and expect to sustain this productive momentum in the months ahead,” said Jesse Shefferman, Chief Executive Officer of Protara Therapeutics. “Supported by these exciting preliminary findings, we are keenly focused on continued execution across the NMIBC program, including the recently announced Phase 1b/2 ADVANCED-2 trial of TARA-002 in patients with high-grade carcinoma in situ (CIS), which we expect to commence in the second half of this year. With final regulatory clearance from the U.S. Food and Drug Administration (FDA) on our Phase 2 trial in lymphatic malformations (LMs), we look forward to initiating STARBORN-1 in the near future and progressing our program to bring a much-needed therapy to these pediatric patients who have no approved treatments today. We remain committed to unlocking the full potential of TARA-002 and look forward to sharing our progress throughout the coming quarters.” Recent Highlights TARA-002 in NMIBC In April 2023 at the American Urological Association Annual Meeting, the Company announced positive preliminary results from the Phase 1a dose-escalation component of the ADVANCED-1 clinical trial of TARA-002, its investigational cell-based therapy, for the treatment of patients with high-grade NMIBC. The clinical data indicate that TARA-002 was generally well tolerated and anti-tumor activit...