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Protara Therapeutics Announces Fourth Quarter and Full Year 2024 Financial Results and Provides a Business Update
TARAProtara Therapeutics(TARA) Newsfilter·2025-03-05 13:00

Core Insights - Protara Therapeutics, Inc. is focused on developing transformative therapies for cancer and rare diseases, with significant progress reported in their clinical pipeline [2][16] - The company announced positive six-month data from the Phase 2 ADVANCED-2 trial for TARA-002 in non-muscle invasive bladder cancer (NMIBC) and plans to report initial 12-month data by mid-2025 [2][5] - Protara is set to initiate the pivotal THRIVE-3 trial for intravenous Choline Chloride in the first half of 2025, targeting patients on parenteral support [4][5] Recent Progress and Highlights - Positive interim results from the ADVANCED-2 trial showed a complete response (CR) rate of 72% at six months for NMIBC patients [6] - The company has a cash position of 170millionasofDecember31,2024,whichisexpectedtofundoperationsinto2027[5][14]−TheTHRIVE−3trialwillassesstheefficacyandsafetyofIVCholineChlorideover24weeksinpatientsunabletoreceiveoralorenteralnutrition[4][15]FinancialResults−ForQ42024,Protarareportedanetlossof170 million as of December 31, 2024, which is expected to fund operations into 2027 [5][14] - The THRIVE-3 trial will assess the efficacy and safety of IV Choline Chloride over 24 weeks in patients unable to receive oral or enteral nutrition [4][15] Financial Results - For Q4 2024, Protara reported a net loss of 12.8 million, or 0.48pershare,comparedtoanetlossof0.48 per share, compared to a net loss of 10.2 million, or 0.90pershare,inQ42023[14][20]−Researchanddevelopmentexpensesincreasedto0.90 per share, in Q4 2023 [14][20] - Research and development expenses increased to 9.5 million in Q4 2024 from 6.4millionintheprioryear,primarilyduetoclinicaltrialactivities[14][20]−Totaloperatingexpensesforthefullyear2024were6.4 million in the prior year, primarily due to clinical trial activities [14][20] - Total operating expenses for the full year 2024 were 49.2 million, up from $43.6 million in 2023 [20]