10-Q - Protara Therapeutics, Inc. (0001359931) (Filer)

Thu, May 8, 12:14 PM (14 days ago)

**Protara Therapeutics, Inc. (TARA) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Protara Therapeutics, Inc. (TARA) reported no revenue for the quarter ended March 31, 2025, as it is a clinical-stage biopharmaceutical company with no approved products. - **Net Loss:** The company reported a net loss of $11.9 million for Q1 2025, compared to a net loss of $11.1 million in Q1 2024. - **Operating Expenses:** Total operating expenses increased by $2.3 million, from $11.9 million in Q1 2024 to $14.2 million in Q1 2025. This increase was primarily due to higher research and development (R&D) expenses. - **Cash Position:** As of March 31, 2025, Protara had $157.5 million in unrestricted cash and cash equivalents and marketable debt securities, compared to $170.3 million as of December 31, 2024. **Key Performance Metrics:** - **R&D Expenses:** R&D expenses increased by $1.4 million, from $7.7 million in Q1 2024 to $9.1 million in Q1 2025. This increase was primarily due to higher direct expenses for product candidates, particularly TARA-002 in non-muscle invasive bladder cancer (NMIBC) and IV Choline Chloride. - **General and Administrative (G&A) Expenses:** G&A expenses increased by $0.9 million, from $4.1 million in Q1 2024 to $5.0 million in Q1 2025. This increase was primarily due to higher personnel-related expenses and market development activities. - **Other Income (Expense), net:** Other income (expense), net increased by $1.5 million, from $0.8 million in Q1 2024 to $2.2 million in Q1 2025. This increase was primarily due to higher investment returns on a higher invested balance. **Cash Flow:** - **Operating Activities:** Net cash used in operating activities was $14.7 million for Q1 2025, compared to $10.4 million for Q1 2024. This increase was primarily driven by an increase in working capital adjustments and an increase in net loss. - **Investing Activities:** Net cash used in investing activities was $58.4 million for Q1 2025, compared to $23.1 million of net cash provided by investing activities for Q1 2024. This change was primarily due to an increase in marketable debt securities purchased. - **Financing Activities:** Net cash provided by financing activities was $1.7 million for Q1 2025, compared to $(0.1) million for Q1 2024. This change was primarily due to the net proceeds from the issuance of common stock in connection with the exercise of the Underwriters’ option. **Future Operations and Uncertainties:** - Protara Therapeutics, Inc. is focused on advancing its pipeline of transformative therapies for cancer and rare diseases. The company's key programs include TARA-002 for NMIBC and lymphatic malformations (LMs), and IV Choline Chloride for patients receiving parenteral support. - The company expects to continue to incur significant and increasing expenses and operating losses for at least the next few years as it continues its development of, and seeks marketing approvals for, its product candidates. - Protara Therapeutics, Inc. believes that its current financial resources are sufficient to satisfy its estimated liquidity needs for at least twelve months from the date of filing this Quarterly Report on Form 10-Q. However, the company may need to raise additional capital in the future to fully realize its strategic plans. - The company's business and financial results may be affected by various risks and uncertainties, including those related to the regulatory environment, competition, intellectual property, and market conditions.