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Protara Therapeutics Announces Second Quarter 2020 Financial Results and Business Overview
NEW YORK, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a development-stage company developing treatments for rare and
About this update from Protara Therapeutics, Inc.
[{"type":"text","content":"NEW YORK, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a development-stage company developing treatments for rare and specialty diseases with significant unmet needs, today announced financial results for the second quarter ended June 30, 2020.\n “We are committed to advancing our pipeline of potentially transformative therapies in several areas of high unmet need,” said Jesse Shefferman, Chief Executive Officer of Protara Therapeutics. “We recently received Rare Pediatric Disease Designation for TARA-002, our lead product candidate, for the treatment of Lymphatic Malformations. We look forward to working with the FDA to determine next steps for the program and we are continuing to evalutate its potential in oncologic indications.” Mr. Shefferman continued, “In addition, we recently announced receipt of Fast Track Designation for IV Choline Chloride for the treatment of IFALD, which we believe speaks to its potential to serve as a much-needed therapy for this patient population. With a resolve to improve the lives of the patients we serve, we expect the remainder of the year to be a productive time for Protara as we execute our strategy.” Recent Highlights TARA-002 Received Rare Pediatric Disease Designation from FDA for TARA-002 for the Treatment of Lymphatic Malformations. In July 2020, Protara announced that the U.S. Food and Drug Administration (FDA) granted Rare Pediatric Disease designation for TARA-002 for the treatment of Lymphatic Malformations (LMs). TARA-002 is an investigational cell-based therapy based on the broad immunopotentiator OK-432, which is approved in Japan and Taiwan for the treatment of LMs.The FDA grants Rare Pediatric Disease designation for serious diseases that primarily affect children ages 18 years or younger and fewer than 200,000 persons in the United States. Under the FDA's Rare Pediatric Disease Priority Review Voucher program, a sponsor who receives an approval of a new drug application or biologics license application for a product for the prevention or treatment of a rare pediatric disease may be eligible for a voucher, which can be redeemed to obtain priority review for any subsequent marketing application or may be sold or transferred. IV Choline Chloride Received Fast Track Designation from FDA for Intravenous Choline Chloride for the Treatment of Intestina...