1. Protara closed a public offering of 13 million shares at $5.75 each. 2. Gross proceeds from the offering totaled approximately $75 million. 3. The funding will support clinical development of TARA-002 and other programs. 4. Underwriters have a 30-day option to buy additional shares. 5. Offering proceeds may also be used for working capital.
FAQ
Why Bullish?
The capital raised can drive developmental progress and investor confidence, similar to other biotech firms that saw share price increases post-financing.
How important is it?
The financing's strategic utilization could significantly impact TARA's trajectory and investor outlook.
Why Long Term?
Investing in clinical development positions Protara for future growth, following historical patterns of biotech success after funding.
Protara Therapeutics Closes $75 Million Public Offering
NEW YORK, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company focused on developing transformative therapies for cancer and rare diseases, has successfully closed an underwritten public offering. The offering consisted of 13,043,479 shares of its common stock, sold at a price of $5.75 per share.
Details of the Offering
Protara has also granted the underwriters a 30-day option to purchase up to an additional 1,956,521 shares at the same public offering price, subject to underwriting discounts and commissions. The gross proceeds from this offering are estimated at approximately $75 million, prior to deductions for underwriting fees and offering expenses.
The net proceeds from the offering will primarily support the clinical development of TARA-002 and other clinical programs within Protara's portfolio. Additionally, funds may be allocated for general corporate purposes and working capital.
Underwriters and Registration Information
The joint book-running managers for this offering include J.P. Morgan, TD Cowen, and Piper Sandler, with LifeSci Capital serving as the lead manager and H.C. Wainwright & Co. functioning as a manager.
The shares were issued under an effective shelf registration statement on Form S-3 (File No. 333-275290), which was declared effective by the U.S. Securities and Exchange Commission (SEC) on November 14, 2023. Interested investors can access the final prospectus supplement and accompanying documents through the offices of the underwriters.
Regulatory Compliance and Forward-Looking Statements
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities referenced herein. Sales of these securities are subject to the laws of the respective states and jurisdictions.
Protara cautions investors that any forward-looking statements made in this announcement are subject to risk and uncertainty. Specific terms that may identify these forward-looking statements include “anticipates,” “plans,” “intends,” and “expects”. Major variabilities include the potential use of proceeds from the offering, which may affect future performance results.
Contact Information
For more details regarding this offering, contact:
Justine O'Malley
Protara Therapeutics
Email: Justine.OMalley@protaratx.com
Phone: 646-817-2836