Business
Protara Therapeutics Announces Fourth Quarter and Full Year 2021 Financial Results and Business Overview
- Phase 1 Study of TARA-002 in Patients with Non-Muscle Invasive Bladder Cancer Under Way - - Strong Cash Position of $130.7M as of December 31, 2021 Expected
About this update from Protara Therapeutics, Inc.
[{"type":"text","content":"- Phase 1 Study of TARA-002 in Patients with Non-Muscle Invasive Bladder Cancer Under Way - - Strong Cash Position of $130.7M as of December 31, 2021 Expected to Fund Operations into Mid-2024 - NEW YORK, March 09, 2022 (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 fourth quarter and year ended December 31, 2021 and provided a business update. “Following a productive 2021, we are well poised to advance our pipeline in 2022, in particular, we are excited to have commenced our Phase 1 study of TARA-002 in non-muscle invasive bladder cancer (NMIBC), a significant step forward in our mission to bring a new immunotherapy to this patient population,” said Jesse Shefferman, Chief Executive Officer of Protara Therapeutics. “Discussions with the U.S. Food and Drug Administration (FDA) remain ongoing on the design of a clinical trial of TARA-002 in patients with lymphatic malformations (LMs), a rare pediatric indication for which there are currently no U.S. FDA-approved therapies. In addition, we continue to assess potential future indications and combinations for TARA-002.” Mr. Shefferman added, “Supported by a strong balance sheet, which includes ample runway to support our planned operations into mid-2024, we remain steadfast in our commitment to bringing meaningful new therapeutic options to pressing areas of high unmet need.” Recent Highlights TARA-002 in NMIBC In October 2021, the Company announced that the FDA cleared its Investigational New Drug (IND) application for TARA-002, an investigational cell-based therapy in development for the treatment of NMIBC. A Phase 1 clinical trial has commenced to assess the safety, tolerability, and preliminary signs of anti-tumor activity of TARA-002 in adults with high-grade NMIBC. TARA-002 in LMs In October 2021, the Company updated its IND submission for TARA-002 for the treatment of LMs with completed confirmatory, current Good Manufacturing Practices (cGMP) comparability data. The Company is engaged with the FDA to align on a development plan for TARA-002 in LMs. IV Choline Chloride in Intestinal Failure Associated Liver Disease (IFALD) The Company’s prospective prevalence study to enhance understanding of the incidence of IFAL...