Protara Therapeutics (TARA) investor relations material

Company overview and business model

• Clinical-stage biopharmaceutical company focused on therapies for cancer and rare diseases, headquartered in New York City.

• Lead programs include TARA-002, an investigational cell therapy, and IV Choline Chloride, a substrate replacement therapy.

• TARA-002 is being developed for non-muscle invasive bladder cancer (NMIBC) and lymphatic malformations (LMs), with global rights excluding Japan and Taiwan.

• IV Choline Chloride targets patients on parenteral support, aiming to address choline deficiency and related liver dysfunction.

• No approved products or product revenues to date; additional capital is needed to fund ongoing and future clinical development.

Financial performance and metrics

• As of March 31, 2026, historical net tangible book value was $181.2 million, or $3.29 per share.

• After a $100 million offering at $5.21 per share, as adjusted net tangible book value would be $277.8 million, or $3.74 per share.

• Immediate dilution to new investors is estimated at $1.47 per share at the assumed offering price.

Use of proceeds and capital allocation

• Net proceeds will fund clinical development of TARA-002, IV Choline Chloride, and other potential programs.

• Additional uses include working capital and general corporate purposes.

• Proceeds not immediately used will be invested in short-term, investment-grade, interest-bearing instruments.