Protara Announces Closing of $75 Million Public Offering

Rhea-AI Summary

Protara (Nasdaq: TARA) announced the closing of an underwritten public offering on Dec 8, 2025 consisting of 13,043,479 shares at $5.75 per share, producing gross proceeds of approximately $75 million before underwriting discounts, commissions and offering expenses. The underwriters have a 30-day option to purchase up to an additional 1,956,521 shares at the public offering price.

Protara intends to use net proceeds to fund the clinical development of TARA-002, support other clinical programs, and for working capital and general corporate purposes. The shares were issued under an effective Form S-3 shelf registration declared effective on Nov 14, 2023.

Positive

• Gross proceeds of approximately $75 million
• Proceeds designated to fund TARA-002 clinical development
• Shares issued under an effective Form S-3 shelf dated Nov 14, 2023

Negative

• Issued 13,043,479 new shares (share count increased)
• Underwriters hold a 30-day option for 1,956,521 additional shares (potential further dilution)

Key Figures

Shares offered 13,043,479 shares Common stock in underwritten public offering

Offering price $5.75 per share Public offering price for common stock

Greenshoe shares 1,956,521 shares Underwriters’ 30-day option for additional common shares

Gross proceeds approximately $75 million Gross proceeds before fees and expenses, excluding option exercise

Option period 30 days Underwriters’ option period to purchase additional shares

Market Reality Check

$5.58 Last Close

Volume Volume 6,453,585 is 5.99x the 20-day average of 1,077,279, indicating heavy trading ahead of this closing announcement. high

Technical Shares at $5.58 are trading above the 200-day MA of $3.97, despite a -18.54% move over the last 24 hours.

Peers on Argus

Biotech peers like BMEA (-10.95%) and KALA (-10%) also declined, but with no momentum flags or same-day news, suggesting TARA’s sharper -18.54% move is more company-specific to its financing cycle.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Offering pricing	Negative	+0.7%	Priced $75M equity offering at $5.75 with overallotment option.
Dec 04	Offering proposed	Negative	+0.7%	Announced proposed $75M offering to fund TARA-002 and other programs.
Dec 03	Clinical data update	Positive	+9.3%	Reported strong Phase 2 ADVANCED-2 efficacy and supportive FDA feedback.
Dec 01	Conference call notice	Neutral	-8.7%	Scheduled call and webcast to review upcoming ADVANCED-2 interim data.
Nov 19	Clinical interim results	Positive	-0.6%	Positive STARBORN-1 interim data in pediatric lymphatic malformations.

Pattern Detected

TARA often diverged from headline tone: only 1 of the last 5 news events showed a price move consistent with the apparent sentiment.

Recent Company History

Over the last month, Protara mixed positive clinical progress on TARA-002 with repeated equity financings. Clinical updates on Dec 3 and earlier in November 2025 showed strong response rates in NMIBC and pediatric lymphatic malformations, supporting development momentum. In parallel, the company announced, proposed and priced a $75 million offering on Dec 4. Today’s closing of that offering completes this capital-raising sequence intended to fund ongoing and future trials.

Market Pulse Summary

This announcement finalizes a previously priced $75 million underwritten public offering, providing additional capital to fund TARA-002 development and other clinical programs. In recent quarters, Protara has relied on similar financings while reporting encouraging interim data across multiple trials. Investors may focus on how efficiently these proceeds are allocated, the pace of upcoming readouts, and any future funding needs as the pipeline advances.

Key Terms

underwritten public offering financial

"announced the closing of its underwritten public offering of 13,043,479 shares"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

common stock financial

"13,043,479 shares of its common stock at a public offering price"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

prospectus supplement regulatory

"The offering was made only by means of a prospectus supplement and the accompanying"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

shelf registration statement regulatory

"were issued pursuant to an effective shelf registration statement on Form S-3"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

form s-3 regulatory

"effective shelf registration statement on Form S-3 (File No. 333-275290)"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

u.s. securities and exchange commission regulatory

"declared effective on November 14, 2023 by the U.S. Securities and Exchange Commission"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

AI-generated analysis. Not financial advice.

NEW YORK, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA) (“Protara”), a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases, today announced the closing of its underwritten public offering of 13,043,479 shares of its common stock at a public offering price of $5.75 per share. In addition, Protara has granted the underwriters a 30-day option to purchase up to an additional 1,956,521 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering were approximately $75 million before deducting underwriting discounts and commissions and offering expenses payable by Protara and excluding any exercise of the underwriters’ option to purchase additional shares. Protara intends to use the net proceeds received from the offering to fund the clinical development of TARA-002, as well as the development of other clinical programs. Protara may also use the net proceeds from the offering for working capital and other general corporate purposes.

J.P. Morgan, TD Cowen and Piper Sandler acted as joint book-running managers of the offering. LifeSci Capital acted as a lead manager of the offering. H.C. Wainwright & Co. acted as a manager of the offering.

The shares of common stock were issued pursuant to an effective shelf registration statement on Form S-3 (File No. 333-275290) that was declared effective on November 14, 2023 by the U.S. Securities and Exchange Commission (the “SEC”). The offering was made only by means of a prospectus supplement and the accompanying prospectus. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at TDManualrequest@broadridge.com; or Piper Sandler & Co., 350 North 5^th Street, Suite 1000, Minneapolis, Minnesota 55401, Attention: Prospectus Department, by telephone at (800) 747-3924, or by email at prospectus@psc.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of such state or jurisdiction.

Forward-looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Protara may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “designed,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words or expressions referencing future events, conditions or circumstances that convey uncertainty of future events or outcomes to identify these forward-looking statements. Investors are cautioned that any forward-looking statements, including statements regarding the expected use of proceeds from the offering, are not guarantees of future performance or results and involve substantial risks and uncertainties. Actual results, developments and events may differ materially from those expressed or implied by such forward-looking statements. Factors that contribute to the uncertain nature of the forward-looking statements include: Protara’s expectations related to the use of proceeds from the offering. Additional important factors to be considered in connection with forward-looking statements, including additional risks and uncertainties, are described more fully under the caption “Risk Factors” and elsewhere in Protara’s filings and reports with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Protara undertakes no obligation to update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise, except as required by law.

Company Contact:
Justine O'Malley
Protara Therapeutics
Justine.OMalley@protaratx.com
646-817-2836

FAQ

What did Protara (TARA) announce on Dec 8, 2025?

Protara closed an underwritten public offering of 13,043,479 shares at $5.75 per share, raising gross proceeds of about $75 million.

How will Protara (TARA) use the net proceeds from the offering?

Proceeds will fund the clinical development of TARA-002, support other clinical programs, and be used for working capital and general corporate purposes.

How many additional shares can underwriters purchase for Protara (TARA)?

Underwriters have a 30-day option to buy up to 1,956,521 additional shares at the public offering price, less discounts and commissions.

Who acted as joint book-running managers for Protara's (TARA) offering?

J.P. Morgan, TD Cowen, and Piper Sandler served as joint book-running managers.

Where can investors obtain Protara's (TARA) final prospectus supplement?

Copies are available from J.P. Morgan, TD Securities (USA), or Piper Sandler via the contacts listed in the prospectus distribution channels.

Under what registration was Protara (TARA) able to issue the offering?

The shares were issued pursuant to an effective Form S-3 (File No. 333-275290) declared effective on Nov 14, 2023.