ArTara Therapeutics Announces Corporate Name Change to Protara Therapeutics
May 11 2020 - 8:38AM
ArTara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company
identifying and advancing transformative therapies for people with
rare and specialty diseases, today announced that it has changed
its name to Protara Therapeutics, Inc., effective immediately. As
part of the name change, the Company has launched a new corporate
website, www.protaratx.com. The Company’s shares will continue
trading on the Nasdaq Capital Market under the ticker symbol
“TARA.”
“Our renaming both distinguishes Protara and
reinforces our commitment to the patients we hope to serve by
developing potentially transformative therapies,” said Jesse
Shefferman, Chief Executive Officer of Protara. “With our diverse
pipeline, we are pursuing multiple high-value opportunities in
underserved areas, including a potential path to market in the U.S.
for our lead program, TARA-002, for the treatment of lymphatic
malformations. As we embark on this exciting next chapter, we look
forward to the Company’s continued evolution and growth as we
strive to establish ourselves as leaders in rare and specialty
disease therapeutics.”
Protara’s lead drug candidate, TARA-002, is an
investigational cell based therapy based on the broad
immunostimulant OK-432, which is approved in Japan and Taiwan for
lymphangiomas, including lymphatic malformations (LMs), which are
rare, typically congenital, malformations of the lymphatic
vasculature. The Company plans to initially pursue development of
TARA-002 for the treatment of LMs. In addition to LMs, the Company
is evaluating the potential of TARA-002 in oncologic indications.
Protara’s portfolio also includes intravenous IV Choline Chloride,
a Phase 3-ready investigational phospholipid substrate replacement
therapy for patients receiving parenteral nutrition who have
intestinal failure associated liver disease (IFALD). The Company’s
IV Choline Chloride has been granted Orphan Drug Designation by the
FDA.
About Protara Therapeutics
Protara is committed to identifying and
advancing transformative therapies for people with rare and
specialty diseases. Protara’s portfolio includes its lead program,
TARA-002, an investigational cell therapy being developed for the
treatment of lymphatic malformations, and intravenous (IV) Choline
Chloride, an investigational phospholipid substrate replacement
therapy for the treatment of intestinal failure associated liver
disease (IFALD). For more information, visit www.protaratx.com.
Forward-Looking Statements
Statements contained in this press release
regarding matters that are not historical facts are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Because such statements
are subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Such statements include, but are not limited to,
statements regarding Protara’s business strategy, Protara’s
development plans for its product candidates, Protara’s financial
footing and the impact of the COVID-19 pandemic on Protara’s
business and clinical programs. Risks that contribute to the
uncertain nature of the forward-looking statements include:
uncertainties related to Protara’s development programs, including
the initiation and completion of non-clinical studies and clinical
trials and the timing of required filings with the FDA and other
regulatory agencies; uncertainties related to the actual impacts
and length of such impacts caused by the COVID-19 pandemic; having
to use cash in ways or on timing other than expected; and the
impact of market volatility on cash reserves. These and other risks
and uncertainties are described more fully under the caption “Risk
Factors” and elsewhere in Protara's filings and reports with the
United States Securities and Exchange Commission. All
forward-looking statements contained in this press release speak
only as of the date on which they were made. Protara undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
CONTACTS
Company ContactBlaine DavisProtara
TherapeuticsBlaine.Davis@protaratx.com646-844-0337
Media Contact Karen O’Shea, Ph.D.LifeSci
Communicationskoshea@lifescicomms.com929-469-3860
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