05:37 PM EST, 12/11/2024 (MT Newswires) -- Protara Therapeutics ( TARA ) closed its public offering of securities, raising $100 million in gross proceeds.

The offering comprised about 13.7 million common shares at $6.25 apiece and prefunded warrants to purchase about 2.33 million shares at $6.249 per warrant, the company said Wednesday in a statement.

Underwriters have a 30-day overallotment option to acquire up to 2.4 million additional shares.

Protara plans to use the net proceeds to fund the clinical development of TARA-002, among other things. TARA-002 is an investigational cell therapy in development for the treatment of nonmuscle invasive bladder cancer and lymphatic malformations.