Protara Therapeutics Stock Soars on Positive Trial Results
Protara Therapeutics stocks surged over 100% on Thursday, rising from a previous closing price of $3.54 to $7.30. This significant increase occurred after the company announced positive results from its ongoing Phase 2 clinical trial for the cell-based therapy TARA-002 in high-risk Non-Muscle Invasive Bladder Cancer (NMIBC) patients.
Protara Therapeutics reported a 72% complete response rate over six months with TARA-002, and a 70% complete response rate at any time in different patient groups exposed to Bacillus Calmette-Guérin (BCG) treatment. Notably, in patients who did not respond to BCG, the therapy achieved a 100% complete response rate over six months and an 80% complete response rate at any time. For BCG-Naïve patients, meaning those who had not received BCG treatment, the complete response rate was 64% over six months and 67% at any time.
The trial also reported an 80% re-induction rescue rate, with all patients maintaining a complete response between three and six months. Importantly, the treatment demonstrated a favorable safety profile, with no serious treatment-related adverse effects reported.
Dr. Brian Mazzarella, Vice President of Urology America Research and a researcher from the ADVANCED-2 trial, praised the results, stating, "These impressive TARA-002 results demonstrate significant activity in a difficult-to-treat patient population." He emphasized the potential of TARA-002 as a treatment option for NMIBC patients, highlighting its efficacy and ease of use.
Protara Therapeutics CEO Jesse Shefferman expressed excitement about the six-month data, reiterating TARA-002's potential in NMIBC treatment. He also noted that the positive data and the expansion of international trial sites are expected to accelerate patient enrollment, with the first data from evaluable patients anticipated by mid-2025.
Most observed side effects were mild and temporary, with the most common being flu-like symptoms and urinary issues, which generally resolved shortly after treatment. The company plans to hold a conference call and webcast to discuss these findings in more detail.