Protara Therapeutics, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, on March 5, 2025. For the fourth quarter, the company reported a net loss of $12.8 million, or 48 cents per share. The full year 2024 net loss amounted to $44.6 million, or $2.17 per share.
The company provided a business update, stating it expects to report initial data from 12-month evaluable patients in its ADVANCED-2 trial of TARA-002 in NMIBC by mid-2025. Furthermore, the pivotal THRIVE-3 trial of intravenous (IV) Choline Chloride is anticipated to commence in the first half of 2025, and an interim update from the Phase 2 STARBORN-1 trial of TARA-002 in lymphatic malformations (LMs) is expected by the end of the first half of 2025.
Protara highlighted its strong liquidity position, with a cash runway extending into 2027, following a successful approximately $100 million public offering. This financial stability supports the continued advancement of its clinical development programs and achievement of upcoming milestones.
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