Protara Therapeutics Reports $14.96 Million Net Loss in Q2 2025, Increased R&D Expenses

Protara Therapeutics, Inc. reported a net loss of $14.96 million for the second quarter of 2025, compared to a loss of $9.51 million in the same period of the previous year. For the first half of 2025, the company recorded a net loss of $26.87 million, up from $20.61 million in the first half of 2024. The increase in losses is attributed to higher operating expenses, which rose to $16.59 million in Q2 2025 from $10.66 million in Q2 2024, driven primarily by increased research and development costs associated with ongoing clinical trials for its product candidates, TARA-002 and IV Choline Chloride.

Research and development expenses for the second quarter of 2025 totaled $10.77 million, a significant increase from $6.39 million in the same quarter of 2024. This rise reflects a $3.9 million increase in direct expenses related to the advancement of the ADVANCED-2 clinical trial for TARA-002 in non-muscle invasive bladder cancer (NMIBC) and the initiation of the THRIVE-3 trial for IV Choline Chloride. General and administrative expenses also increased to $5.82 million from $4.27 million year-over-year, primarily due to higher personnel-related costs and professional fees.

As of June 30, 2025, Protara's total assets were reported at $156.93 million, a decrease from $181.45 million at the end of 2024. The decline in assets is largely due to a reduction in cash and cash equivalents, which fell to $31.50 million from $162.80 million at the end of the previous fiscal year. The company’s cash position is bolstered by marketable debt securities, which increased to $90.72 million from $7.49 million, indicating a strategic shift in asset allocation. Protara's total liabilities decreased to $12.51 million from $14.32 million, reflecting a reduction in accrued expenses.

In terms of operational developments, Protara continues to advance its clinical programs, with TARA-002 being evaluated in two indications: NMIBC and lymphatic malformations (LMs). The company is also preparing to initiate the THRIVE-3 Phase 3 trial for IV Choline Chloride, which has received Fast Track Designation from the FDA. Protara's employee headcount has increased as the company expands its operational capabilities to support these clinical trials. The company anticipates that its current financial resources will be sufficient to meet its liquidity needs for at least the next twelve months, although it may need to raise additional capital to support ongoing and future development activities.

Looking ahead, Protara remains focused on its clinical development strategy, with plans to present interim data from the ADVANCED-2 trial at a medical conference in early 2026. The company is also exploring potential combination therapies for TARA-002 and aims to provide updates on its clinical programs in the second half of 2025. Despite the current financial losses, Protara is committed to advancing its innovative therapies for cancer and rare diseases, with the expectation of significant future growth contingent on successful clinical outcomes and regulatory approvals.