Protara Therapeutics, Inc.
TARA evidence brief
What we can confirm
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. is a clinical-stage biopharmaceutical company developing TARA-002 for non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline for patients on parenteral nutrition, with no approved products or current revenues.
Key risk: No approved products or revenues
BioSniper Score
Based on 6 of 6 signals
Market Cap
$225.7M
Cash Runway
26.9 moLead Asset
iv choline (Phase 2/Phase 3)
Next Catalyst
Phase3_Topline · Jan 1, 2029Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 4 clinical trials · 2 catalysts for Protara Therapeutics, Inc..
Protara Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing TARA-002 for non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline for patients on parenteral nutrition, with no approved products or current revenues.
- Protara is a clinical-stage biopharmaceutical company with no current or near-term revenues [sec_mda · as of 2026-08-11].
- As of June 30, 2026, the company had cash & equivalents of $17.8 million and an accumulated deficit of approximately $341.9 million [latest financials block; sec_mda · as of 2026-08-11].
- The company's pipeline includes TARA-002 for non-muscle invasive bladder cancer (NMIBC) and lymphatic malformations (LMs), and IV Choline for patients on long-term parenteral nutrition [sec_mda · as of 2025-03-05].
- TARA-002 has received Rare Pediatric Disease designation from the FDA and Orphan Drug Designation from the European Commission for the treatment of LMs [sec_mda · as of 2025-03-05].
- Protara expects to meet with the FDA in the first half of 2026 to determine the registrational path for TARA-002 in LMs [sec_mda · as of 2026-03-10].
What works
- TARA-002 has received Rare Pediatric Disease designation from the FDA and Orphan Drug Designation from the European Commission for LMs, which may provide regulatory and commercial advantages [sec_mda · as of 2025-03-05].
- The company has a focused pipeline targeting both oncology (NMIBC) and rare disease (LMs, PN) with potential for multiple regulatory pathways [sec_mda · as of 2025-03-10].
- Protara has raised significant capital through public offerings, including $86.3 million in gross proceeds from a common stock offering, providing a cash runway of at least 12 months from the date of the latest financial statements [sec_mda · as of 2026-05-13; sec_mda · as of 2026-08-11].
What to weigh
- Protara has incurred significant operating losses and had an accumulated deficit of $341.9 million as of June 30, 2026, with no current or near-term revenues [sec_mda · as of 2026-08-11].
- The company will need to raise additional capital to fully realize its plans, and there is no assurance that financing will be available on acceptable terms [sec_mda · as of 2026-08-11].
- As a clinical-stage company, Protara faces substantial clinical, regulatory, and commercial risks, including the uncertainty of trial outcomes and FDA approvals [sec_mda · as of 2026-08-11].
- The company's cash position of $17.8 million as of June 30, 2026, is relatively low, and it may require further dilutive financing to fund operations beyond the next 12 months [latest financials block; sec_mda · as of 2026-08-11].
From the filings
Quoted directly from source documents.
Protara has no current or near-term revenues and is a clinical-stage company.
“We are in the business of developing biopharmaceuticals and have no current or near-term revenues.”
SEC MD&A · August 11, 2026
Accumulated deficit as of June 30, 2026, was approximately $341.9 million.
“As of June 30, 2026, we had an accumulated deficit of approximately $341.9 million.”
SEC MD&A · August 11, 2026
TARA-002 has Rare Pediatric Disease designation from the FDA for LMs.
“TARA-002 granted Rare Pediatric Disease designation by the FDA and Orphan Drug Designation by the European Commission for the treatment of LMs.”
SEC MD&A · March 5, 2025
Protara expects to meet with the FDA in the first half of 2026 for TARA-002 in LMs.
“we expect to meet with the FDA to determine the registrational path forward for TARA-002 in LMs in the first half of 2026.”
SEC MD&A · March 10, 2026
Catalyst timeline
- 2029-01-01 · Phase3_Topline — Topline data from a Phase 2b/3 randomized open-label dose-selection study with open-label extension and randomized double-blind component for TARA-002.
- 2032-11-01 · Phase3_Topline — Topline data from a Phase 3 randomized study evaluating efficacy and safety of intravesical TARA-002 compared to a control.
Risks & what to watch (4)›
Key risks
- No approved products or revenues — Protara has no current or near-term revenues and relies on future product approvals and sales [sec_mda · as of 2026-08-11].
- Significant accumulated deficit — Accumulated deficit of $341.9 million as of June 30, 2026, with increasing operating losses expected [sec_mda · as of 2026-08-11].
- Need for additional capital — Company will need to raise additional capital to fully realize plans; no assurance of financing availability [sec_mda · as of 2026-08-11].
- Clinical and regulatory uncertainty — Trial outcomes, FDA meetings, and registrational paths are uncertain and may delay or prevent approvals [sec_mda · as of 2026-08-11].
What to watch
- FDA meeting in first half of 2026 to determine registrational path for TARA-002 in LMs [sec_mda · as of 2026-03-10].
- Phase 2 trial results for TARA-002 in NMIBC and LMs, with topline data expected in the second half of 2026 [sec_mda · as of 2026-03-10].
- Cash runway and potential need for additional financing, given $17.8 million cash as of June 30, 2026 [latest financials block].
- Progress of ongoing Phase 2 studies for TARA-002 (NCT05951179, NCT05871970) [catalyst].
Sources: Catalysts · SEC filings · SEC MD&A · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
26.9 months
D/E 0.09 · 0% dilution
Lead: Phase 2/Phase 3
2 candidates
2 upcoming, next in ~855d
0 buys · 3 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
110
Total value held
$236.2M
| Holder | Shares | Value |
|---|---|---|
| janus henderson group plc | 10,414,022 | $54.3M |
| vanguard capital management llc | 4,238,036 | $22.1M |
| blackrock, inc. | 3,394,968 | $17.7M |
| millennium management llc | 2,831,208 | $14.8M |
| blackstone inc. | 2,265,514 | $11.8M |
| acorn capital advisors, llc | 1,752,115 | $9.1M |
| ubs group ag | 1,402,413 | $7.3M |
| 5am venture management, llc | 1,369,782 | $7.1M |
| citadel advisors llc | 1,232,458 | $6.4M |
| geode capital management, llc | 1,177,200 | $6.1M |
Showing top 10 of 110 institutional holders of Protara Therapeutics, Inc.. Open the full 13F history after sign-in.
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. is a clinical-stage biopharmaceutical company developing TARA-002 for non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline for patients on parenteral nutrition, with no approved products or current revenues.
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.
What is Protara Therapeutics, Inc.'s next catalyst?
Protara Therapeutics, Inc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Phase 2b/3 Randomized Open-Label Dose-Selection Study With Open-Label Extension and Randomized Dou" — expected January 1, 2029.
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.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.