Protara prices $75 million stock offering at $5.75 per share

Protara Therapeutics Inc. (NASDAQ: TARA) priced an underwritten public offering of 13,043,479 shares of common stock at $5.75 per share, the company announced. The clinical-stage company developing therapies for cancer and rare diseases expects gross proceeds of approximately $75 million before underwriting discounts and commissions.

The company granted 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. The offering is expected to close on December 8, 2025, subject to customary closing conditions.

Protara stated it intends to use net proceeds to fund clinical development of TARA-002 and other clinical programs. The company may also use proceeds for working capital and general corporate purposes.

J.P. Morgan, TD Cowen and Piper Sandler serve as joint book-running managers for the offering. LifeSci Capital acts as lead manager, while H.C. Wainwright & Co. serves as manager.

The shares will be issued under an effective shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on November 14, 2023. The offering is being conducted through a prospectus supplement and accompanying prospectus.

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