24/7 Market News Snapshot 21 October, 2024 – Protara Therapeutics, Inc. Common Stock (NASDAQ:TARA)

October 21, 2024

DENVER, Colo., 21 October, 2024 (247marketnews.com) – (NASDAQ:TARA) are discussed in this article.
Protara Therapeutics, Inc. has experienced significant trading activity, with shares opening at $1.95 and climbing to $2.11, reflecting an approximate gain of 10.47%. Following yesterday’s close at $1.91, the stock has shown strong buyer interest, bolstered by a current trading volume of 541.25K. Analysts note potential resistance around $2.15 and support at $2.00, emphasizing that if the upward trend persists with sustained volume, further gains may be feasible while advising caution due to possible short-term volatility.

In a pivotal development for the company, Protara has received Fast Track designation from the U.S. Food and Drug Administration (FDA) for its investigational therapy, Intravenous (IV) Choline Chloride. This novel IV phospholipid substrate replacement therapy is aimed at fulfilling the urgent nutritional needs of adults and adolescents who are reliant on parenteral support (PS), particularly where traditional nutritional methods are inadequate or unsuitable.

Jesse Shefferman, CEO of Protara, expressed the significance of this designation, underscoring the urgent need for solutions in this patient demographic. He pointed out that IV Choline Chloride could potentially be the first FDA-approved IV choline therapy, addressing a critical deficiency prevalent among roughly 80% of PS patients. This deficiency can lead to serious health issues including hepatic injury and neuropsychological disorders.

Protara plans to launch its registrational THRIVE-3 clinical trial in the first quarter of 2025, employing a seamless Phase 2b/3 design to assess the safety and efficacy of this innovative therapy. The Fast Track designation will facilitate expedited development and review processes, enhancing collaboration with the FDA and enabling possibilities for priority review and accelerated approval. This milestone not only represents a critical advancement for Protara but also holds promise for numerous patients worldwide who rely on parenteral nutrition amidst choline deficiency challenges.

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