Protara Therapeutics, Inc.
TARAHealthcare|Biotechnology|US
$2.30
+0.17 (+7.98%)
DCF Value
$1.03
Tangible Book / Share
$2.24
Cash / Share
$2.02
Financials
Financial Snapshot
Market Cap
$135.9M
Enterprise Value
$113.2M
Revenue (TTM)
$0.00
Net Income (TTM)
-$78.4M
Cash & Investments
$127.0M
Net Cash
$124.6M
Free Cash Flow (TTM)
-$73.2M
Operating CF (TTM)
-$72.1M
Debt/Equity
0.02
Cash Runway & Burn Rate
Cash on Hand
$127.0M
Quarterly Burn
$18.0M
Monthly Burn
$6.0M
Est. Runway
~7.0 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $41.3M | $42.1M | $21.9M | $6.2M | $168.6M | $91.2M | $84.4M | $65.6M | $170.3M | $155.6M | $127.0M | |
| Operating Cash Flow | -$23.7M | -$22.4M | -$23.2M | -$15.6M | -$23.4M | -$34.5M | -$26.5M | -$37.6M | -$35.8M | -$56.4M | -$72.1M | |
| Free Cash Flow | -$24.0M | -$22.4M | -$23.4M | -$15.7M | -$24.3M | -$35.1M | -$26.6M | -$37.6M | -$35.9M | -$56.5M | -$73.2M | |
| Capital Expenditure | -$271.0K | -$35.0K | -$119.0K | -$16.0K | -$884.0K | -$596.0K | -$120.0K | -$45.0K | -$63.0K | -$94.0K | -$1.1M | |
| Financing Cash Flow | $208.0K | $23.0M | $3.0M | $500.0K | $189.4M | -$228.0K | -$90.0K | -$91.0K | $139.9M | $82.7M | $82.5M |
R&D Spending
R&D (TTM)
$60.4M
R&D Intensity
—
R&D Growth vs Prior
+41.6%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $18.9M | $21.7M | $15.5M | $6.4M | $11.9M | $21.1M | $16.8M | $24.8M | $31.7M | $42.6M | $60.4M | |
| SG&A | $9.7M | $8.5M | $10.6M | $8.8M | $22.4M | $26.4M | $20.7M | $18.6M | $17.4M | $21.9M | $24.7M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $123.0K | $148.0K | $115.0K | $16.0K | $196.0K | $0.00 | $0.00 | $341.0K | $0.00 | $362.0K | $90.0K | |
| Gross Profit | -$123.0K | -$148.0K | -$115.0K | -$16.0K | -$196.0K | $0.00 | $0.00 | -$341.0K | $0.00 | -$362.0K | -$90.0K | |
| R&D | $18.9M | $21.7M | $15.5M | $6.4M | $11.9M | $21.1M | $16.8M | $24.8M | $31.7M | $42.6M | $60.4M | |
| SG&A | $9.7M | $8.5M | $10.6M | $8.8M | $22.4M | $26.4M | $20.7M | $18.6M | $17.4M | $21.9M | $24.7M | |
| Operating Income | -$28.7M | -$30.4M | -$26.1M | -$15.3M | -$34.4M | -$47.5M | -$67.1M | -$43.6M | -$49.2M | -$64.5M | -$85.2M | |
| Interest Expense | $193.0K | $259.0K | $0.00 | $0.00 | $34.0K | $1.7M | $1.1M | $0.00 | $0.00 | $0.00 | $1.5M | |
| Pretax Income | -$28.5M | -$30.0M | -$25.4M | -$15.0M | -$34.0M | -$47.3M | -$66.0M | -$40.4M | -$44.6M | -$57.4M | -$78.4M | |
| Net Income | -$28.5M | -$30.0M | -$25.4M | -$15.0M | -$34.0M | -$47.3M | -$66.0M | -$40.4M | -$44.6M | -$57.4M | -$78.4M | |
| EPS (Diluted) | -68.90 | -69.38 | -9.93 | -3.63 | -4.70 | -4.20 | -5.86 | -3.57 | -2.17 | -1.34 | -1.40 | |
| EBITDA | -$28.4M | -$29.8M | -$20.6M | -$7.8M | -$33.8M | -$45.4M | -$64.6M | -$40.1M | -$44.3M | -$57.1M | -$79.7M | |
| Shares Out. (M) | 0.41 | 0.43 | 2.56 | 4.06 | 7.23 | 11.23 | 11.26 | 11.33 | 20.59 | 42.84 | 62.85 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $36.4M | $21.2M | $19.4M | $6.2M | $168.6M | $35.7M | $24.1M | $39.6M | $162.8M | $49.7M | $25.1M | |
| Short-Term Investments | $4.9M | $21.0M | $2.5M | $0.00 | $0.00 | $55.5M | $60.2M | $26.0M | $7.5M | $105.9M | $101.9M | |
| Total Current Assets | $42.8M | $43.5M | $23.2M | $7.0M | $169.4M | $93.1M | $86.1M | $68.7M | $172.2M | $159.5M | $129.7M | |
| Total Assets | $43.5M | $44.0M | $23.5M | $7.0M | $203.2M | $172.6M | $113.3M | $79.0M | $181.5M | $209.5M | $156.5M | |
| Total Current Liabilities | $5.1M | $9.2M | $3.1M | $583.0K | $2.9M | $4.3M | $5.7M | $6.1M | $11.0M | $10.9M | $14.4M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.1M | |
| Total Liabilities | $5.1M | $9.2M | $3.1M | $583.0K | $3.9M | $10.7M | $11.2M | $10.6M | $14.3M | $13.1M | $15.5M | |
| Stockholders' Equity | $38.4M | $34.7M | $20.4M | $6.4M | $199.2M | $161.9M | $102.1M | $68.3M | $167.1M | $196.4M | $141.0M | |
| Retained Earnings | -$159.8M | -$189.7M | -$210.5M | -$225.5M | -$46.8M | -$94.0M | -$160.0M | -$200.4M | -$245.0M | -$302.4M | -$363.6M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$23.7M | -$22.4M | -$23.2M | -$15.6M | -$23.4M | -$34.5M | -$26.5M | -$37.6M | -$35.8M | -$56.4M | -$72.1M | |
| Capital Expenditure | -$271.0K | -$35.0K | -$119.0K | -$16.0K | -$884.0K | -$596.0K | -$120.0K | -$45.0K | -$63.0K | -$94.0K | -$1.1M | |
| Free Cash Flow | -$24.0M | -$22.4M | -$23.4M | -$15.7M | -$24.3M | -$35.1M | -$26.6M | -$37.6M | -$35.9M | -$56.5M | -$73.2M | |
| Investing Cash Flow | $19.9M | -$16.1M | $18.4M | $2.5M | $2.8M | -$98.2M | $14.9M | $53.1M | $19.2M | -$139.5M | $2.2M | |
| Financing Cash Flow | $208.0K | $23.0M | $3.0M | $500.0K | $189.4M | -$228.0K | -$90.0K | -$91.0K | $139.9M | $82.7M | $82.5M | |
| Issuance of Stock | $208.0K | $1.5M | $2.9M | $500.0K | $87.8M | $0.00 | $0.00 | $0.00 | $136.0M | $82.9M | $81.0M | |
| Repurchase of Stock | $208.0K | $0.00 | $0.00 | $0.00 | $0.00 | -$228.0K | -$90.0K | -$91.0K | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | -$1.7M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $3.3M | $925.71 | $3.4M | $943.0K | $9.7M | $10.4M | $6.7M | $6.1M | $4.1M | $3.8M | $5.4M | |
| Net Change in Cash | -$3.6M | -$15.2M | -$1.8M | -$13.2M | $168.8M | -$132.9M | -$11.6M | $15.5M | $123.2M | -$113.1M | $12.6M |
Dilution Tracker
Shares outstanding grew 492.2% over 5 years — significant dilution
Shares Outstanding
59M
5-Year Share Growth
+492.2%
Stock Issuance (TTM)
$81.0M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.41 | 0.43 | 2.56 | 4.06 | 7.23 | 11.23 | 11.26 | 11.33 | 20.59 | 42.84 | 62.85 | |
| Change vs Prior % | — | 4.3% | 492.9% | 58.7% | 78.1% | 55.3% | 0.2% | 0.6% | 81.7% | 108.0% | 46.7% | |
| Stock Issuance | $208.0K | $1.5M | $2.9M | $500.0K | $87.8M | $0.00 | $0.00 | $0.00 | $136.0M | $82.9M | $81.0M | |
| Stock Repurchase | $208.0K | $0.00 | $0.00 | $0.00 | $0.00 | -$228.0K | -$90.0K | -$91.0K | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $3.3M | $925.71 | $3.4M | $943.0K | $9.7M | $10.4M | $6.7M | $6.1M | $4.1M | $3.8M | $5.4M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | -74.2% | -86.3% | -124.4% | -234.5% | -17.1% | -29.2% | -64.6% | -59.2% | -26.7% | -29.2% | -46.1% | |
| ROA % | -65.5% | -68.1% | -108.1% | -214.9% | -16.7% | -27.4% | -58.2% | -51.2% | -24.6% | -27.4% | -50.1% | |
| ROIC % | -74.7% | -87.4% | -127.6% | -214.9% | -17.2% | -28.1% | -61.8% | -59.1% | -28.6% | -32.3% | -59.4% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | -115.8% | -20.3% | 22.3% | 86.1% | -1125.0% | 100.0% | 0.0% | 0.0% | 100.0% | 0.0% | |
| Operating Income | -37.5% | -5.8% | 14.1% | 41.5% | -125.8% | -37.9% | -41.2% | 35.0% | -12.7% | -31.3% | |
| Net Income | -33.4% | -5.0% | 15.1% | 41.1% | -126.6% | -39.1% | -39.6% | 38.7% | -10.3% | -28.8% | |
| EPS (Diluted) | -32.7% | -0.7% | 85.7% | 63.4% | -29.5% | 10.6% | -39.5% | 39.1% | 39.2% | 38.2% | |
| Operating Cash Flow | -34.8% | 5.6% | -3.9% | 32.7% | -49.6% | -47.4% | 23.3% | -42.0% | 4.7% | -57.4% | |
| Free Cash Flow | -34.9% | 6.6% | -4.3% | 32.9% | -55.1% | -44.5% | 24.3% | -41.5% | 4.6% | -57.4% | |
| R&D Expense | 52.4% | 14.9% | -28.5% | -58.5% | 84.6% | 77.5% | -20.3% | 47.5% | 27.9% | 34.5% | |
| SG&A Expense | 15.2% | -12.2% | 24.0% | -16.6% | 153.7% | 18.0% | -21.5% | -10.2% | -6.3% | 25.6% | |
| Total Assets | -35.6% | 1.1% | -46.5% | -70.3% | 2812.6% | -15.0% | -34.4% | -30.3% | 129.8% | 15.4% | |
| Book Value / Share | -39.7% | -13.4% | -90.1% | -80.3% | 1650.5% | -47.7% | -37.1% | -33.5% | 34.6% | -43.5% | |
| Debt | 0.0% | 0.0% | -100.0% | 0.0% | 0.0% | 566.0% | -11.8% | -14.4% | -18.0% | -25.1% | |
| Diluted Shares | 0.6% | 4.3% | 492.9% | 58.7% | 78.1% | 55.3% | 0.2% | 0.6% | 81.7% | 108.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B1.03
10Y Low / Med / High0.30 / 0.88 / 11.37
EV/EBITDAAt Loss
10Y Low / Med / High0.17 / 0.32 / 1.12
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.03
Tangible Book / Share
$2.24
Net Current Assets / Share
$1.93
Graham Net-Net
$1.77
Cash / Share
$2.02
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -1.10 | -1.10 | -9.14 | -4.52 | -5.15 | -1.61 | -0.46 | -0.53 | -2.43 | -3.98 | -1.64 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 0.82 | 0.94 | 11.37 | 10.42 | 0.88 | 0.47 | 0.30 | 0.31 | 0.65 | 1.16 | 1.03 | |
| EV/EBITDA | 0.17 | -0.39 | -10.34 | -7.74 | -0.23 | -1.04 | -0.19 | 0.32 | 1.12 | -3.19 | -1.42 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
1.20
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $22.3M | $1.2M | $65.2M |
| Net Income | -$58.8M | -$72.9M | -$28.0M |
| EPS | $-1.39 | $-1.63 | $-0.61 |
| # Analysts (EPS) | 6 | 6 | 5 |