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Protara Therapeutics

TARA Rare disease Lead: Phase 3 10 Biotech Distilled articles ↓ 26 filings & releases ↓ Cash $25.1M (Sep 30, 2026) ↓ 10 verdicts ↓ 5 timing quotes ↓
DermatologyMetabolicOncology CellSmall Molecule

Market cap $142M 61.6M shares (10-Q, Nov 3, 2026) × $2.30 close Nov 6, 2026

Most recent annual filing: 2026-03-10

Catalyst timeline

4 trackedQuarter catalyst calendar →
  1. IV Choline Chloride Ph3 interim4Q 2026IV Choline Chloride Ph3 interim, 4Q 2026, material
  2. TARA-002 NMIBC enrollment done4Q 2026TARA-002 NMIBC enrollment done, 4Q 2026, notable
  3. TARA-002 Lymphatic Malformations enrollment done1Q 2027TARA-002 Lymphatic Malformations enrollment done, 1Q 2027, routine
  4. TARA-002 BLA filing2H 2027TARA-002 BLA filing, 2H 2027, notable

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (3 active programs)

Capital (as filed)

Cash
$25.1M cash and cash equivalents · Sep 30, 2026 (10-Q)
Short-term investments
$102M Sep 30, 2026
Long-term investments
$16.0M Sep 30, 2026
Operating cash flow
−$18.4M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$162M cash, runway into 2028 per the update of Aug 11, 2026 — the company's own words as read there, not the filed figure

Offering documents (2)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (10)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (10 calls)

Every verdict Biotech Distilled has published on Protara Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-02-23 Buy speculative Protara Therapeutics (TARA): Scientific Deep Dive for Lead and Pipeline Products Downside cushioned by fortress balance sheet and cash runway into 2028, with near-term upside from Q1 2026 BCG-Unresponsive data readout and PRV optionality from the LM program.
  2. 2026-03-01 Buy speculative UPDATE: Protara Therapeutics (TARA) - ASCO GU Update Q1 2026 catalyst survived with a 33-57% CR rate clearing the FDA regulatory floor, pristine safety profile, and downside still protected by cash runway into 2028 and intact LM/IV Choline value drivers.
  3. 2026-03-15 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - FY25 Earnings Thesis intact with $198M cash removing financing overhang, but downgrade to speculative reflects the clinical-stage nature and risks of complex biologics manufacturing ahead of key 2H 2026 readouts.
  4. 2026-04-27 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - The Warrant Trigger Trips 68.0% six-month CR across 25 patients confirms data integrity; warrant mechanics and authorized-share expansion are flags to watch but do not break the thesis with cash runway into 2028 intact.
  5. 2026-05-14 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - Q1 2026 Status Check LM BLA now on a concrete 2H 2027 timeline and regulatory moat fully assembled, but faster-than-modeled cash burn and CEO's expanded 10b5-1 selling plan are new watch items.
  6. 2026-05-15 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - The ATM Goes Live Clinical thesis unchanged but $100M ATM with TD Cowen now live means the 'no dilutive raise' pillar of the original buy case no longer applies; CEO 10b5-1 and corporate ATM opening simultaneously is a pattern worth watching.
  7. 2026-05-16 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - The BCG-Naïve 12-Month Holds BCG-Naïve 55% 12-month CR and 91.7% nine-to-twelve durability fully underwrite ADVANCED-3 design; sell-off is about ATM supply overhang, not the science.
  8. 2026-06-30 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - The CMO Walks on Warrant Deadline Day Clinical data unchanged but CMO departure on warrant expiration day adds execution risk flag; $5.25 warrants expired worthless removing that overhang, while governance and financing noise has been louder than clinical signal for six weeks.
  9. 2026-08-12 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - ADVANCED-3 Stops Being a Phase 3 ADVANCED-3 redesigned from registrational Phase 3 to open-label exploratory trial, reducing the bull case to a single-arm BCG-Unresponsive cohort plus LM PRV and IV Choline; clinical data unchanged but structural optionality has narrowed materially.
  10. 2026-11-07 Speculative buy speculative UPDATE: Protara Therapeutics (TARA) - Buying the Factory Acquiring incumbent manufacturer Novex for $8.75M directly de-risks the CMC battleground, but STARBORN-1 slipped a quarter, cash keeps declining, and at ~$142M market cap vs. $143M cash the market prices the pipeline near zero; hold-and-watch ahead of imminent THRIVE-3 interim.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (5 quotes from 2 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (26)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Apr 27, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

11 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)