Protara Therapeutics Announces Departure of Chief Financial Officer
June 21 2022 - 8:00AM
Protara Therapeutics, Inc.
(Nasdaq: TARA), a
clinical-stage company developing transformative therapies for the
treatment of cancer and rare diseases, today announced that Blaine
Davis, Chief Financial Officer (CFO), has informed the Company that
he will be leaving to pursue other opportunities. His last day at
the Company will be July 15, 2022.
“On behalf of our Board of Directors and the
management team, I would like to thank Blaine for his leadership
and build-out of our finance, commercial and IT functions and his
many other contributions to our long-term growth and development,”
said Jesse Shefferman, Chief Executive Officer of Protara
Therapeutics. “Blaine has built a talented and experienced team at
Protara, and we believe we are in a strong financial and
operational position as we continue to strive towards our goal of
bringing transformative therapies to patients in areas of high
unmet need.”
“I would like to thank my colleagues at Protara
for their partnership,” said Mr. Davis. “I’m confident that the
team is well positioned to continue to execute on its mission to
deliver meaningful oncology and rare disease therapeutics to
patients.”
Mr. Davis’ departure is not related to Protara’s
operations, financial reporting or controls. As of March 31, 2022,
the Company had cash, cash equivalents and investments of $119M
expected to fund operations into mid-2024.
About Protara Therapeutics,
Inc.
Protara is committed to identifying and
advancing transformative therapies for people with cancer and rare
diseases with limited treatment options. Protara’s portfolio
includes its lead program, TARA-002, an investigational cell-based
therapy being developed for the treatment of non-muscle invasive
bladder cancer and lymphatic malformations, and IV Choline
Chloride, an investigational phospholipid substrate replacement
therapy for the treatment of intestinal failure-associated liver
disease. 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. Protara may, in some cases, use
terms such as “predicts,” “believes,” “potential,” “proposed,”
“continue,” “designed,” “estimates,” “anticipates,” “expects,”
“plans,” “intends,” “may,” “could,” “might,” “will,” “should” or
other words or expressions referencing future events, conditions or
circumstances that convey uncertainty of future events or outcomes
to identify these forward-looking statements. Such forward-looking
statements include but are not limited to, statements regarding
Protara’s intentions, beliefs, projections, outlook, analyses or
current expectations concerning, among other things: Protara’s
business strategy, including its development plans for its product
candidates and plans regarding the timing or outcome of existing or
future clinical trials; statements related to expectations
regarding interactions with the FDA, including potential alignment
with the FDA on clinical trial design for TARA-002 in pediatric LM
patients; Protara’s financial footing; statements regarding the
anticipated safety or efficacy of Protara’s product candidates; and
Protara’s outlook for the remainder of the year. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Factors that contribute to the
uncertain nature of the forward-looking statements include: risks
that Protara’s financial guidance may not be as expected, as well
as risks and uncertainties associated with: 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; the impact of the COVID-19
pandemic on Protara’s business and the global economy as well as
the impact on Protara’s contract research organizations, study
sites or other clinical partners; general market conditions;
changes in the competitive landscape; changes in Protara’s
strategic and commercial plans; Protara’s ability to obtain
sufficient financing to fund its strategic plans and
commercialization efforts; having to use cash in ways or on timing
other than expected; the impact of market volatility on cash
reserves; the loss of key members of management; the impact of
general U.S. and foreign, economic, industry, market,
regulatory or political conditions; and the risks and uncertainties
associated with Protara’s business and financial condition in
general, including the risks and uncertainties 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 and are
based on management's assumptions and estimates as of such date.
Protara undertakes no obligation to update any forward-looking
statements, whether as a result of the receipt of new information,
the occurrence of future events or otherwise, except as required by
law.
Company Contact:Justine O'MalleyProtara
TherapeuticsJustine.OMalley@protaratx.com 646-817-2836
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