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Stock Alert: Protara Therapeutics Rises 7%

(RTTNews) - Shares of Protara Therapeutics, Inc. (TARA) are gaining nearly 7% on Tuesday morning after the company announced pricing of securities in concurrent public offerings of common Stock and preferred stock.

TARA is currently trading at $1.13 or 6.70% on the Nasdaq.

The clinical-stage company focused on treatement of cancer and rare diseases announced the pricing of two concurrent but separate underwritten public offerings of 4.6 million common shares and 4,148 non-voting preferred stock. The public offering price of each common share is $16.87 and price of preferred stock is $16,873.54.

Protara expects to raise proceeds of $147.6 million from the offerings, which it plans to use for development activities associated with TARA-002 in non-muscle invasive bladder cancer, lymphatic malformations and potential exploration of additional indications.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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