Protara Therapeutics Closes $100 Million Securities Offering

MT Newswires Live12-12

Protara Therapeutics (TARA) closed its public offering of securities, raising $100 million in gross proceeds.

The offering comprised about 13.7 million common shares at $6.25 apiece and prefunded warrants to purchase about 2.33 million shares at $6.249 per warrant, the company said Wednesday in a statement.

Underwriters have a 30-day overallotment option to acquire up to 2.4 million additional shares.

Protara plans to use the net proceeds to fund the clinical development of TARA-002, among other things. TARA-002 is an investigational cell therapy in development for the treatment of nonmuscle invasive bladder cancer and lymphatic malformations.

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