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Protara Therapeutics, Inc. develops clinical-stage biotechnology programs for cancer and rare diseases. Company news centers on TARA-002, an investigational cell-based therapy being studied for non-muscle invasive bladder cancer and lymphatic malformations, including updates from the ADVANCED-2 trial in BCG-Unresponsive and BCG-Naïve NMIBC patient groups.
Recurring updates also cover IV Choline Chloride, an investigational phospholipid substrate replacement therapy for patients receiving long-term parenteral support. Other company announcements include clinical-conference presentations, FDA designation updates, financial results, equity compensation grants under Nasdaq rules, and capital-raising activity tied to Protara's development-stage pipeline.
Protara Therapeutics (Nasdaq: TARA) announced the pricing of two underwritten public offerings, totaling 4,600,000 shares of common stock at $16.87 each and 4,148 shares of non-voting Series 1 Convertible Preferred Stock priced at $16,873.54 each, expected to close on September 24, 2020. The company anticipates receiving $147.6 million in gross proceeds, primarily for development activities associated with its lead therapy, TARA-002, targeting non-muscle invasive bladder cancer and lymphatic malformations. The offerings are conducted under an effective shelf registration statement.
Protara Therapeutics (Nasdaq: TARA) announced advancements in the clinical development of its lead therapy, TARA-002, for non-muscle invasive bladder cancer (NMIBC) and lymphatic malformations. Following constructive discussions with the FDA, initial comparability between TARA-002 and OK-432 has been confirmed, with further GMP runs planned for mid-2021. A Phase 1 study for NMIBC is set for 2021, with Phase 2 anticipated in 2022. The company will also seek a meeting with the FDA regarding TARA-002’s BLA for lymphatic malformations, supported by positive historical data from OK-432.
Protara Therapeutics (Nasdaq: TARA) announced the granting of 27,500 inducement stock options to two new employees, priced at $20.51 per share, the closing price on September 1, 2020. The options will vest over four years, with 25% vesting after one year and the remainder vesting monthly thereafter. This approval aligns with NASDAQ Listing Rule 5635(c)(4). Protara focuses on developing treatments for rare diseases, including its lead program TARA-002 for lymphatic malformations and IV Choline Chloride for IFALD.
Protara Therapeutics (Nasdaq: TARA) announced FDA's Rare Pediatric Disease designation for TARA-002, aimed at treating Lymphatic Malformations (LMs), which are rare congenital conditions. TARA-002 is a cell-based therapy utilizing the immunopotentiator OK-432, already approved in Japan and Taiwan. A Phase 2 trial showed promising results, with 86% of pediatric patients displaying significant response. This designation highlights the urgent medical need for LMs treatment, and Protara is poised to explore further development steps with the FDA.
Protara Therapeutics (TARA) announced the appointment of Barry P. Flannelly, Pharm.D, to its Board of Directors, replacing Scott Braunstein, M.D. Dr. Flannelly brings over 20 years of experience in the pharmaceutical and biotech sectors, currently serving as Executive Vice President at Incyte. CEO Jesse Shefferman expressed optimism about leveraging Dr. Flannelly's expertise to advance Protara's lead program, TARA-002, aimed at treating lymphatic malformations. The transition occurs at a pivotal time for Protara as it seeks to enhance its drug development pipeline.
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Protara Therapeutics (Nasdaq: TARA) announced the grant of inducement stock options for 3,700 shares to a new employee, with an exercise price of $28.20, matching the closing price on July 1, 2020. The options will vest over four years, with 25% vesting after one year and the remainder monthly thereafter, contingent on continued employment. This move aligns with NASDAQ Listing Rule 5635(c)(4) and indicates Protara's commitment to attracting talent essential for advancing its clinical programs aimed at treating rare diseases.
Protara Therapeutics (Nasdaq: TARA) announced the grant of inducement non-qualified stock options for 3,700 shares to a new employee. The exercise price is set at $51.12, equivalent to Protara's closing price on June 1, 2020. The options will vest over four years, with 25% cliff vesting on the first anniversary, followed by monthly vesting. The award aligns with NASDAQ Listing Rule 5635(c)(4) and is designed to attract talent for Protara's focus on rare diseases, including TARA-002 for lymphatic malformations and IV choline chloride for intestinal failure-associated liver disease.
Protara Therapeutics, previously ArTara Therapeutics, has announced its name change effective immediately, with shares continuing to trade under the ticker symbol TARA. The rebranding aims to enhance the company's identity and commitment to developing innovative therapies for rare diseases. Its lead drug candidate, TARA-002, targets lymphatic malformations and is based on OK-432, a treatment approved in Japan and Taiwan. Protara also has IV Choline Chloride as a Phase 3-ready therapy for patients with intestinal failure associated liver disease. A new corporate website has been launched.
ArTara Therapeutics (TARA) announced the grant of inducement stock options totaling 4,100 shares to two new employees at an exercise price of $24.02 per share, equivalent to the May 1, 2020 closing price. These options will vest over four years, with 25% vesting after one year and the remainder monthly thereafter. The Compensation Committee approved these awards in line with NASDAQ Listing Rule 5635(c)(4). ArTara focuses on developing treatments for rare diseases, including TARA-002 for lymphatic malformations and IV choline chloride for intestinal failure-associated liver disease.