Protara Therapeutics, Inc.
TARA evidence brief
What we can confirm
- BioSniper Score:
- 6.8 / 10
- Market Cap:
- $225.7M
- Lead Asset:
- iv choline (Phase 2/Phase 3)
What it means
What to watch
Prepared research question
What matters most for TARA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · TARA
Protara Therapeutics, Inc. (TARA) is a clinical-stage biopharmaceutical company developing TARA-002 (a biologic derived from OK-432) for non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline Chloride for patients receiving parenteral support.
Key risk: Cash runway
BioSniper Score
Based on 4 of 6 signals
Market Cap
$225.7M
Cash Runway
—
Lead Asset
iv choline (Phase 2/Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 4 clinical trials for Protara Therapeutics, Inc..
Protara Therapeutics, Inc. (TARA) is a clinical-stage biopharmaceutical company developing TARA-002 (a biologic derived from OK-432) for non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline Chloride for patients receiving parenteral support.
- Cash & equivalents of $17.1M as of 2026-06-30 [sec].
- Net income of -$21.7M for the period ending 2026-06-30 [sec].
- Shareholders' equity of $161.3M as of 2026-06-30 [sec].
- Accumulated deficit of approximately $341.9M as of June 30, 2026 [sec_mda · as of 2026-08-11].
- Expects to complete enrollment of the BCG-Unresponsive registrational cohort of the ADVANCED-2 trial in 4Q 2026 [news · published 2026-08-11].
What works
- TARA-002 has received FDA Breakthrough Therapy Designation and Orphan Drug Designation for lymphatic malformations, indicating regulatory support for a rare pediatric disease [sec_mda · as of 2026-05-13].
- The company has secured worldwide rights to TARA-002 (excluding Japan and Taiwan) and has access to a large historical dataset from a Phase 2 trial in LMs using OK-432 [sec_mda · as of 2026-05-13].
- Protara expects to submit a Biologics License Application for TARA-002 in LMs after completing the STARBORN-1 trial [news · published 2026-08-11].
What to weigh
- The company has incurred significant operating losses since inception, with an accumulated deficit of approximately $341.9M as of June 30, 2026 [sec_mda · as of 2026-08-11].
- Protara expects to continue incurring increasing operating losses for at least the next few years as it develops and seeks marketing approvals for its product candidates [sec_mda · as of 2026-08-11].
- The ADVANCED-3 trial is being redesigned as an exploratory trial, indicating a potential setback in the NMIBC program [news · published 2026-08-11].
From the filings
Quoted directly from source documents.
Accumulated deficit
“accumulated deficit of approximately $341.9 million”
SEC MD&A · August 11, 2026
Regulatory designations for TARA-002 in LMs
“FDA granted both FDA Breakthrough Therapy Designation, or BTD, and FTD for TARA-002 for the treatment of macrocystic and mixed cystic LMs in pediatric patients”
SEC MD&A · May 13, 2026
Enrollment timeline for ADVANCED-2
“Expect to complete enrollment of the BCG-Unresponsive registrational cohort of the ADVANCED-2 trial in 4Q 2026”
News · August 11, 2026
Catalyst timeline
- 2023-09-15 · Phase 2 start for TARA-002 in NMIBC — Initiation of a Phase 2 open-label study evaluating intravesical TARA-002 in high-grade NMIBC.
- 2023-10-18 · Phase 2 start for TARA-002 in LMs — Initiation of a Phase 2a/b single-arm study of intracystic TARA-002 in pediatric patients with LMs.
- 2025-12-10 · Phase 3 start for IV Choline Chloride — Initiation of a Phase 2b/3 study evaluating Choline Chloride for Injection in patients receiving parenteral support.
Risks & what to watch (3)›
Key risks
- Cash runway — Cash of $17.1M as of 2026-06-30 may be insufficient to fund operations through expected losses [sec].
- Clinical trial redesign — ADVANCED-3 trial redesign as exploratory may delay or limit NMIBC program [news · published 2026-08-11].
- Regulatory approval uncertainty — BLA submission for TARA-002 in LMs expected in 2H 2027, with no guarantee of approval [sec_mda · as of 2026-08-11].
What to watch
- Completion of enrollment in the BCG-Unresponsive registrational cohort of ADVANCED-2 in 4Q 2026 [news · published 2026-08-11].
- Completion of enrollment in the STARBORN-1 trial in LMs in 4Q 2026 [news · published 2026-08-11].
- Submission of a Biologics License Application for TARA-002 in LMs [news · published 2026-08-11].
- Cash runway and ability to fund operations given accumulated deficit and net losses [sec_mda · as of 2026-08-11].
Sources: Catalysts · News · SEC MD&A · Generated October 7, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.09 · 0% dilution
Lead: Phase 2/Phase 3
2 candidates
No upcoming catalysts tracked
0 buys · 1 sell (180d)
Pipeline
Regulatory
Financials
Short Interest
as of Apr 28, 2026- % of float
- 10.8%
- Days to cover
- 7.8
- Shares short
- 5,745,340
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
TARA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Protara Therapeutics, Inc.?
Protara Therapeutics, Inc. (TARA) is a clinical-stage biopharmaceutical company developing TARA-002 (a biologic derived from OK-432) for non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline Chloride for patients receiving parenteral support.
What is Protara Therapeutics, Inc.'s lead drug candidate?
Protara Therapeutics, Inc.'s most advanced tracked candidate is iv choline (Phase 2/Phase 3) for Choline Deficiency.
Who is the CEO of Protara Therapeutics, Inc.?
Mr. Jesse Shefferman is the chief executive officer of Protara Therapeutics, Inc. (TARA).
Where is Protara Therapeutics, Inc. headquartered?
Protara Therapeutics, Inc. (TARA) is headquartered in New York, NY, United States.
What therapeutic areas does Protara Therapeutics, Inc. focus on?
Protara Therapeutics, Inc. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.