Protara Therapeutics Q3 net loss widens on higher expenses

Overview

• US biotech firm's Q3 net loss widened yr/yr as operating expenses increased

• Higher R&D and administrative costs drove the increased quarterly loss

• Company ended Q3 with $143 mln in cash and expects funding to last into 2028

Outlook

• Protara expects to complete ADVANCED-2 BCG-Unresponsive cohort enrollment in Q4 2026

• Company expects STARBORN-1 trial enrollment completion in early Q1 2027

• Protara expects to begin rolling BLA submission for TARA-002 in LMs in 2H 2027

Result Drivers

• CLINICAL TRIAL COSTS - Higher direct costs from ongoing clinical trials, personnel and TARA-002 manufacturing drove increased R&D expenses

• ADMINISTRATIVE EXPENSES - Increased personnel and other administrative costs contributed to higher operating expenses

• MANUFACTURING INVESTMENT - Acquisition of TARA-002 manufacturing assets increased costs as company prepares for potential commercialization

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)