Protara Therapeutics, Inc. SEC Filings

Protara Therapeutics reported an equity compensation grant to its Chief Scientific Operations Officer, Jacqueline Zummo. On January 16, 2026, she received 30,000 shares of common stock for $0, issued pursuant to restricted stock unit awards. Following this grant, she beneficially owned 128,861 common shares directly.

The filing also shows a grant of 180,000 stock options with a $5.01 exercise price, recorded at a $0 acquisition cost. The RSUs vest in three equal annual installments on the first, second and third anniversaries of January 16, 2026, contingent on continued service. The options vest 25% on the one-year anniversary of January 16, 2026, with the remaining 75% vesting in 1/48th monthly installments over the next three years, also conditioned on ongoing service.

BlackRock, Inc. filed an amended ownership report showing it beneficially owns 2,408,868 shares of Protara Therapeutics, Inc. common stock, representing 4.7% of the outstanding class as of 12/31/2025. BlackRock reports sole power to vote 2,380,664 of these shares and sole power to dispose of 2,408,868 shares, with no shared voting or dispositive power.

The holdings reflect securities owned or deemed owned by certain BlackRock business units, excluding other disaggregated units. The shares are held in the ordinary course of business, and BlackRock states they were not acquired to change or influence control of Protara. Various underlying persons have rights to dividends or sale proceeds, but no one person has more than 5% of Protara’s total outstanding common shares.

Protara Therapeutics, Inc. reports that underwriters have fully exercised their option to purchase an additional 1,956,521 shares of its common stock at the public offering price of $5.75 per share, following a previously completed sale of 13,043,479 shares. Including this option exercise, the public offering is expected to generate aggregate gross proceeds of approximately $86.3 million before underwriting fees and other expenses.

The company plans to use the net proceeds primarily to fund the clinical development of TARA-002 and other clinical programs, and may also allocate funds to working capital and general corporate purposes. The shares were issued under an effective shelf registration statement on Form S-3 and a related prospectus supplement.

Protara Therapeutics, Inc. entered into an underwriting agreement to sell 13,043,479 shares of its common stock at $5.75 per share, for expected gross proceeds of approximately $75 million. The offering, made under an effective shelf registration on Form S-3, closed on December 8, 2025.

The company granted the underwriters a 30-day option to purchase up to an additional 1,956,521 shares at the public offering price, less underwriting discounts and commissions. Protara plans to use the net proceeds primarily to fund clinical development of its lead candidate TARA-002 and other clinical programs, and may also apply funds to working capital and other general corporate purposes. The company and its officers and directors agreed to 60-day lock-up provisions that temporarily restrict additional share sales.

Protara Therapeutics reported updated interim Phase 2 data for TARA-002 in patients with carcinoma in situ non-muscle invasive bladder cancer who had not received BCG. Among 29 evaluable BCG-Naïve patients as of November 7, 2025, the complete response rate was 72% at any time, 69% at six months (18/26), and 50% at 12 months (7/14). Initial responders showed durable outcomes, with 88% maintaining response through six months and all three patients evaluated at 12 months remaining in response. Re-induction converted most initial non-responders, and all re-induced responders maintained responses at 12 months. Safety appeared manageable, with most treatment-related side effects mild and no Grade 3 or higher events or discontinuations. The FDA has provided written feedback supporting a registrational controlled trial design in BCG-Naïve patients using intravesical chemotherapy as the comparator and a six-month complete response rate as the primary endpoint.

Protara Therapeutics reported interim clinical results from its ongoing Phase 2 STARBORN-1 trial of TARA-002, an investigational cell-based therapy for pediatric patients with lymphatic malformations (LMs). The analysis covers 12 enrolled patients who received more than one dose as of the November 12, 2025 cutoff. Eight patients were evaluable at eight weeks and seven of these eight achieved clinical success, meaning at least a 60% reduction in LM volume by imaging or investigator assessment. Overall, 8 of 10 patients who completed treatment and all 8 patients who completed the eight-week response assessment achieved clinical success.

Among macrocystic patients, 5 of 6 achieved a complete response and the remaining patient had a substantial response; the only mixed-cystic patient achieved a complete response. Two patients reached a 32-week post-treatment assessment and remained disease-free, while one initial complete response was later reclassified as a ranula. Most adverse events were mild to moderate, with no serious events reported; the most common were swelling and fatigue, and one patient discontinued due to Grade 2 fatigue. Protara also posted an investor presentation and press release, and held a conference call and webcast to discuss the data.

Protara Therapeutics filed its quarterly report, showing a net loss of $13.3 million for the three months ended September 30, 2025 and $40.1 million for the nine-month period. Operating expenses rose to $14.8 million in the quarter, driven by research and development of $9.6 million and general and administrative of $5.2 million. Interest and investment income was $1.5 million in the quarter.

Liquidity remained solid with unrestricted cash, cash equivalents and marketable debt securities of $133.6 million as of September 30, 2025; management believes resources are sufficient for at least twelve months. Working capital was $125.7 million. Shares outstanding were 38,587,260 as of November 6, 2025.

Program updates: In NMIBC, interim ADVANCED-2 data (April 2025 cutoff) showed complete response rates in BCG‑Unresponsive patients of 100% at six months (5/5) and 67% at 12 months (2/3). An interim read from Cohort B (~25 six‑month evaluable patients) is planned for Q1 2026. IV Choline Chloride advanced toward THRIVE‑3 with EU‑CTR approval in July 2025 and first dosing targeted by year‑end 2025. In LMs, STARBORN‑1 early data included two complete responses; an interim update is expected in Q4 2025.

Protara Therapeutics, Inc. furnished its financial results for the quarter ended September 30, 2025 via a press release attached as Exhibit 99.1.

The disclosure was provided under Item 2.02 and is designated as furnished, not filed, under the Exchange Act. The company’s common stock trades on The Nasdaq Global Market under the symbol TARA.

RA Capital and affiliated individuals report shared beneficial ownership of 1,971,765 shares of Protara Therapeutics common stock, representing a 4.99% stake. The position reflects 1,039,295 directly held shares plus pre-funded warrants exercisable for up to 1,400,144 additional shares, but exercise is restricted by 9.99% and 4.99% beneficial ownership blockers. The 4.99% blocker currently limits exercise so reported beneficial ownership is capped at 1,971,765 shares. RA Capital serves as investment adviser and holds sole voting and dispositive power over the Fund's holdings; the filers disclaim group status and broader beneficial ownership except as required by Section 13(d).