Protara Therapeutics (NASDAQ:TARA) stock is heading higher on Tuesday following some major news from the U.S. Food and Drug Administration (FDA).
Let’s dive into that news below, as well as cover what else investors need to know about Protara Therapeutics.
- Today’s big news is the FDA clearing the company’s Investigational New Drug (IND) application for TARA-002.
- TARA-002 is an investigational cell-based therapy in development to treat non-muscle invasive bladder cancer (NMIBC).
- Approval from the FDA means that Protara Therapeutics can move forward with clinical trials.
- The company says it expects to start its Phase 1 clinical trials of the treatment by the end of the year.
- This will have it using the drug to treat adult patients suffering from high-grade NMIBC.
- That will have those patients receiving six weekly intravesical doses of TARA-002.
- The primary focus of the trial is on evaluating the safety, tolerability, and preliminary signs of anti-tumor activity of TARA-002.
- This will allow Protara Therapeutics to determine a maximum dosage for use in its Phase 2 clinical trials.
- It’s worth noting that TARA-002 is the lead program at Protara Therapeutics.
- IV Choline Chloride is another of its treatments in development.
- This is an investigational phospholipid substrate replacement therapy in development for the treatment of intestinal failure-associated liver disease.
Today’s news has TARA stock seeing extra trading. As of this writing, more than 9 million shares have changed hands. That’s an impressive jump over its daily average trading volume of roughly 108,000 shares.
TARA stock was up 7.4% as of Tuesday morning but is down 69.8% since the start of the year.
Investors can learn more about what’s happening with the stock market today below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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