03:56 AM EST, 12/10/2024 (MT Newswires) -- Protara Therapeutics ( TARA ) said late Monday it priced an underwritten public offering of 13.7 million shares at $6.25 apiece and pre-funded warrants to purchase 2.3 million shares at $6.249 per warrant.

The company granted underwriters a 30-day option to purchase up to an additional 2.4 million shares. The offering is expected to close on Wednesday.

Protara expects gross proceeds of about $100 million.

The company aims to use the proceeds to fund clinical development and for working capital and other general corporate purposes.