Protara Therapeutics announces $75M common stock offering

Protara Therapeutics (TARA) announced that it has commenced an underwritten public offering of $75M in aggregate of shares of its common stock or, in lieu of issuing common stock to certain investors, pre-funded warrants to purchase shares of its common stock. All of the shares of common stock and pre-funded warrants to be sold in the proposed offering will be offered by Protara. Protara intends to use the net proceeds received from the offering to fund the clinical development of TARA-002, as well as the development of other clinical programs. Protara may also use the net proceeds from the offering for working capital and other general corporate purposes. J.P. Morgan, TD Cowen and Piper Sandler are acting as joint book-running managers of the proposed offering.