Business
Protara Therapeutics Announces First Quarter 2024 Financial Results and Provides Business Update
Reported positive data from three-month evaluable CIS patients treated across ongoing TARA-002 clinical program in NMIBCPreliminary data from six-month
About this update from Protara Therapeutics, Inc.
[{"type":"text","content":"Reported positive data from three-month evaluable CIS patients treated across ongoing TARA-002 clinical program in NMIBCPreliminary data from six-month evaluable patients in ADVANCED-2 trial of TARA-002 in NMIBC expected in 2H 2024Reached alignment with FDA on registrational path forward for IV Choline Chloride in patients dependent on parenteral nutritionCurrent cash resources, together with approximately $45.0 million in gross proceeds from April 2024 private placement, expected to fund operations into 2026 NEW YORK, May 02, 2024 (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, 2024 and provided a business update. “We have made significant progress thus far in 2024, and with cash resources expected to fund operations into 2026, we are well positioned to execute our programs in oncology and rare disease,” said Jesse Shefferman, Chief Executive Officer of Protara Therapeutics. “We are pleased with the positive three-month data announced last month from our clinical program in patients with non-muscle invasive bladder cancer (NMIBC), which support the potential for TARA-002 to play a meaningful role in the treatment landscape. Looking ahead, we are on track to present interim data from our ADVANCED-2 trial of TARA-002 in patients with NMIBC in the second half of this year.” Mr. Shefferman continued, “We also recently aligned with the U.S. Food and Drug Administration (FDA) on a path forward for intravenous (IV) Choline Chloride in patients dependent on parenteral nutrition (PN). We continued to enroll pediatric patients in our Phase 2 STARBORN-1 trial of TARA-002 in lymphatic malformations (LMs), an underserved population with no FDA-approved therapies.” Recent Progress and Highlights Corporate Update In April 2024, Protara closed a $45.0 million private placement. The offering was led by RA Capital Management and Acorn Bioventures and included participation from new and existing investors such as Boxer Capital, Woodline Partners LP, Catalio Capital Management, StemPoint Capital, Armistice Capital, Velan Capital and a healthcare fund. TARA-002 in NMIBC In April 2024, the Company announced positive data from three-month evaluable carcinoma ...