Protara Therapeutics slides after unveiling stock deal

Protara Therapeutics

09/12/2024 22:00

**  Protara Therapeutics  TARA.O  shares down 9.5% to $6.04
in extended trading on planned equity raise. Shares on Mon
closed up 
  
    ** Cancer and rare-disease treatment firm  of stock and
pre-funded warrants; deal size not disclosed
  
    ** It intends to use net offering proceeds t
  
    ** TARA shares on Thurs 
    finished session up 70% at $6.02 after co  TARA-002 helped
remove all signs of cancer in 72% of patients at six months of
treatment for  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))