Protara Therapeutics Launches $75M Public Offering to Fuel Clinical Trials
Protara Therapeutics, Inc. (Nasdaq: TARA) ('Protara'), a clinical-stage company developing transformative therapies, has announced a proposed public offering. The company is planning to sell shares of its common stock or pre-funded warrants, subject to market conditions, in an underwritten public offering worth up to $75 million. The funds raised from this offering will primarily support the clinical development programs, including its lead candidate, TARA-002.
The offering involves a shelf registration statement on Form S-3, previously filed with the US Securities and Exchange Commission (SEC). Investors are advised to review the preliminary prospectus supplement and accompanying documents before making any decisions. These materials, along with Protara’s other SEC filings, will be available on the regulator’s website.
J.P. Morgan, TD Cowen, and Piper Sandler are acting as joint book-running managers for the transaction. Barclays, Leerink Partners, and Cowen are also supporting the issuance. The company may grant underwriters a 30-day option to buy additional shares at the offering price, minus standard discounts.
Protara has stated that the proceeds will fund the clinical development of TARA-002 and other programs. Some funds may also cover working capital and general corporate needs. However, the completion, size, and terms of the offering remain uncertain and depend on market conditions.
The proposed $75 million offering aims to advance Protara’s pipeline, with a focus on TARA-002. The transaction’s final details will depend on regulatory approvals and investor demand. No sales will occur in jurisdictions where the offering has not been registered or qualified.
