05:25 PM EST, 12/09/2024 (MT Newswires) -- Protara Therapeutics ( TARA ) launched a public offering of common shares.

Underwriters are expected to get a 30-day overallotment option for additional shares at the offering price, Protara said Monday in a statement.

Net proceeds are expected to fund the clinical development of TARA-002, among other things, the company said.

TARA-002 is an investigational cell therapy in development for the treatment of nonmuscle invasive bladder cancer and lymphatic malformations.

Protara's shares fell 8.7% in recent after-hours activity.