Protara Therapeutics Launches $45M Private Placement Drive

Protara Therapeutics (TARA) has provided an announcement.

Protara Therapeutics, Inc. has initiated a private placement, selling over 9 million shares of common stock and issuing warrants for additional stock purchase, aiming to raise approximately $45 million. The proceeds are intended for general corporate needs and advancing clinical trials, such as the TARA-002 for Non-Muscle Invasive Bladder Cancer. Accompanying lock-up agreements restrict share transfers by company insiders, while a registration rights agreement demands a resale registration statement to be filed post-closing. This move is part of Protara’s strategy to bolster its financial position and fuel its product development pipeline.

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