Quarterly ResultMay 13, 2026, 08:07 AM
Protara to Submit TARA-002 BLA in 2H 2027; Q1 Net Loss $17.8M
AI Summary
Protara Therapeutics announced its first quarter 2026 financial results, reporting a net loss of $17.8 million, or $0.31 per share, an increase from the prior year. The company provided a business update, highlighting its intent to submit a Biologics License Application (BLA) for TARA-002 in Lymphatic Malformations (LMs) in the second half of 2027. Protara also reported approximately $177 million in cash, cash equivalents, and investments as of March 31, 2026, which is expected to fund operations into 2028, and provided updates on its TARA-002 NMIBC and IV Choline Chloride programs.
Key Highlights
- Protara Therapeutics intends to submit a BLA for TARA-002 in Lymphatic Malformations (LMs) in 2H 2027.
- Cash, cash equivalents, and investments totaled approximately $177 million as of March 31, 2026.
- Company expects current cash to fund planned operations into 2028.
- Net loss for Q1 2026 was $17.8 million, or $0.31 per share, compared to $11.9 million in Q1 2025.
- Research and development expenses increased to $13.6 million in Q1 2026 from $9.1 million in Q1 2025.
- General and administrative expenses increased to $6.1 million in Q1 2026 from $5.0 million in Q1 2025.
- Expects to complete enrollment of ADVANCED-2 trial and initiate ADVANCED-3 trial for TARA-002 in NMIBC in 2H 2026.
- Interim results for THRIVE-3 program for IV Choline Chloride expected in 2H 2026.