Protara Therapeutics Shares Sink 16% After $75 Mln Public Offering

(RTTNews) - Shares of Protara Therapeutics Inc. (TARA) dropped about 16% in pre-market trading on Friday after the company announced the pricing of its underwritten public offering of about 13.04 million shares of common stock at $5.75 per share.

In addition, Protara has granted the underwriters a 30-day option to purchase up to an additional 1.96 million shares of common stock at the public offering price, less underwriting discounts and commissions. All shares in the offering are being sold by Protara.

The company expects the gross proceeds from the offering to be approximately $75 million before deducting underwriting discounts and commissions and offering expenses payable by Protara and excluding any exercise of the underwriters' option to purchase additional shares.

The offering is expected to close on December 8, 2025, subject to satisfaction of customary closing conditions.

Protara intends to use the net proceeds received from the offering to fund the clinical development of TARA-002, as well as the development of other clinical programs. Protara may also use the net proceeds from the offering for working capital and other general corporate purposes.

TARA closed at $6.87 on December 4, 2025, up $0.07 or 1.03%. In pre market trading the following day, the stock fell sharply to $5.77, down $1.10 or 16.01%.