Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD -0.31, beating the estimate of USD -0.3693.

EBIT: As of FY2026 Q1, the actual value is USD -21.48 M.

Cash and Investments

As of March 31, 2026, unrestricted cash and cash equivalents and marketable debt securities totaled $177.4 million, which is expected to fund planned operations and milestones into 2028.

Research and Development Expenses

Research and development expenses for the first quarter of 2026 increased to $13.6 million from $9.1 million for the prior year period. This increase was primarily due to a $2.2 million increase in direct expenses for product candidates and a $2.2 million increase in indirect expenses not directly attributable to one specific product candidate.

General and Administrative Expenses

General and administrative expenses for the first quarter of 2026 increased to $6.1 million from $5.0 million for the prior year period. The increase was primarily due to personnel-related expenses, including stock-based compensation.

Net Loss

For the first quarter of 2026, Protara Therapeutics, Inc. incurred a net loss of - $17.8 million, compared with a net loss of - $11.9 million for the same period in 2025. Net loss for the first quarter of 2026 included approximately $1.4 million in stock-based compensation expenses.

Net Loss Per Share

Net loss per share attributable to common stockholders was - $0.31 for the first quarter of 2026, compared to - $0.29 per share for the same period in 2025.

Balance Sheet Highlights (Unaudited)

• Total Assets: $191,923 thousand as of March 31, 2026, down from $209,468 thousand as of December 31, 2025.
• Total Liabilities: $10,715 thousand as of March 31, 2026, down from $13,056 thousand as of December 31, 2025.
• Total Stockholders’ Equity: $181,208 thousand as of March 31, 2026, down from $196,412 thousand as of December 31, 2025.

Operational Metrics and Outlook

Protara Therapeutics, Inc. intends to submit a Biologics License Application (BLA) for TARA-002 in Lymphatic Malformations (LMs) in the second half of 2027. The company expects to complete enrollment of the BCG-Unresponsive registrational cohort of the ADVANCED-2 trial and initiate the ADVANCED-3 registrational trial in BCG-Naïve patients in the second half of 2026. Additionally, interim results for the THRIVE-3 program for IV Choline Chloride are expected to be announced in the second half of 2026.