BUZZ-Protara Therapeutics slides after unveiling stock deal

Reuters
2024-12-10
BUZZ-Protara <a href="https://laohu8.com/S/LENZ">Therapeutics</a> slides after unveiling stock deal

** Protara Therapeutics TARA.O shares down 9.5% to $6.04 in extended trading on planned equity raise. Shares on Mon closed up 12.9% at $6.67

** Cancer and rare-disease treatment firm announces offering of stock and pre-funded warrants; deal size not disclosed

** It intends to use net offering proceeds to fund clinical development of TARA-002, and development of other clinical programs

** TARA shares on Thurs finished session up 70% at $6.02 after co said TARA-002 helped remove all signs of cancer in 72% of patients at six months of treatment for non-muscle invasive bladder cancer (NMIBC) in mid-stage study

** Co has ~20.6 mln shares outstanding for ~$137 mln market cap

** TD Cowen, Cantor, LifeSci Capital, Oppenheimer and Scotiabank jt bookrunners for offering

** TARA shares ended 2023 at $1.88

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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