Investors should monitor upcoming catalysts: regulatory update for LMs in 1H 2026, interim THRIVE-3 data in 2H 2026, and completion of BCG-Unresponsive cohort enrollment in ADVANCED-2. The strong clinical data and extended runway reduce near-term dilution risk and increase probability of regulatory success.
Price Chart
Executive Summary
Protara Therapeutics reported strong interim clinical data for TARA-002 in non-muscle invasive bladder cancer (NMIBC), showing a 68% complete response rate at six months in BCG-Unresponsive patients, alongside Breakthrough Therapy and Fast Track designations for lymphatic malformations. The company raised $86.3 million in a public offering, extending its cash runway into 2028, despite increased R&D and G&A expenses leading to a wider net loss. No revenue was generated as the company remains pre-commercial.
Key Financial Metrics
Key Facts
- TARA-002 demonstrated 68.2% complete response rate at six months in BCG-Unresponsive NMIBC patients (22 evaluable patients)
- Breakthrough Therapy and Fast Track designations received for TARA-002 in lymphatic malformations (LMs)
- Completed $86.3 million public offering, bringing cash, cash equivalents, and investments to $197.9 million as of December 31, 2025
- Cash runway now extends into 2028, funding key milestones including ADVANCED-2/3 and THRIVE-3 trials
- Net loss widened to $57.4 million in 2025 from $44.6 million in 2024 due to higher R&D and G&A spending
- No revenue reported — company remains clinical-stage with no commercial products
Financial Impact
Increased annual net loss by $12.8 million to $57.4M; raised $86.3M in gross proceeds, boosting cash reserves by ~120%
Risk Factors
- Clinical-stage biotech with no revenue; valuation dependent on trial outcomes
- Widening losses reflect advancing trials, but long-term profitability remains uncertain
- Market volatility could impact ability to raise capital if runway needs extension
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3252699 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 7w ago | 8-K | $3.91 $3.83 | ▼ −2.05% | ▼ −0.99% | $2.70 (−30.95%) |
Aug 11, 2026 7w ago | Press Release | $3.91 $3.83 | ▼ −2.05% | ▼ −0.99% | $2.70 (−30.95%) |
Jun 29, 2026 13w ago | 8-K | $3.82 $4.04 | ▲ +5.76% | ▲ +6.79% | $2.70 (−29.32%) |
May 26, 2026 18w ago | EFFECT | $4.80 $4.06 | ▲ +15.52% | ▲ +13.57% | $2.70 (+43.75%) |
May 15, 2026 20w ago | Press Release | $5.10 $3.94 | ▼ −22.75% | ▼ −24.86% | $2.70 (−47.06%) |
May 13, 2026 20w ago | 8-K | $5.20 $3.65 | ▼ −29.81% | ▼ −29.19% | $2.70 (−48.08%) |
May 13, 2026 20w ago | Press Release | $5.20 $3.65 | ▼ −29.81% | ▼ −29.19% | $2.70 (−48.08%) |
Apr 28, 2026 22w ago | DEFA14A | $5.17 $4.75 | ▼ −8.12% | ▼ −14.17% | $2.70 (−47.78%) |
Mar 10, 2026 29w ago | Press Release | $5.71 $5.22 | ▼ −8.58% | ▼ −8.43% | $2.70 (−52.71%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access