Current Report Filing (8-k)
March 10 2023 - 5:24PM
Edgar (US Regulatory)
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2023-03-10
2023-03-10
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 10, 2023
Protara Therapeutics, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
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001-36694 |
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20-4580525 |
(State or other jurisdiction
of incorporation) |
|
(Commission File No.) |
|
(IRS Employer
Identification No.) |
345 Park Avenue South
Third Floor
New York, NY |
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10010 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including area
code: (646) 844-0337
N/A
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $0.001 per share |
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TARA |
|
The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On March 10, 2023, Protara
Therapeutics, Inc. (“we”, “us”, the “Company”) disclosed that the majority of our cash, cash equivalents
and marketable debt securities required to fund our operations is invested in a variety of short-term and high-credit treasury and corporate
bonds and other highly liquid investments, none of which is invested in or managed by Silicon Valley Bank (“SVB”).
We do maintain an operating account with SVB, which holds funds we typically use to pay our monthly operating expenses. On March
8, 2023, we announced that as of December 31, 2022, our cash, cash equivalents and marketable debt securities totaled $102.3 million.
We do not believe that the issues faced by SVB will impact our operations or liquidity and we reiterate our guidance on cash runway into
2025.
The information included in this Item 7.01 shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except
as expressly set forth by specific reference in such a filing.
This Current
Report on Form 8-K contains forward-looking statements, including, but not limited to, statements regarding risks and uncertainties. These
statements constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Exchange Act. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“may,” “plan,” “predict,” “project,” “target,” “potential,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain these identifying words. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of the date of this Current Report on Form 8-K, and the
Company undertakes no obligation to update any forward-looking statement except as required by law. These forward-looking statements are
based on estimates and assumptions by the Company’s management that, although believed to be reasonable, are inherently uncertain
and subject to a number of risks. Actual results may differ materially from historical results or those anticipated or predicted by the
Company’s forward-looking statements as a result of various important factors, including, but not limited to, the impact of general
economic, industry, market or political conditions and the other risks and uncertainties identified in the Company’s periodic filings,
including the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PROTARA THERAPEUTICS, INC. |
|
|
|
Date: March 10, 2023 |
By: |
/s/ Patrick Fabbio |
|
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Patrick Fabbio |
|
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Chief Financial Officer |
2
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