TARA · CIK 1359931
What Protara Therapeutics, Inc. told the SEC could break it.
Protara Therapeutics' disclosures are those of a pre-revenue, clinical-stage biotech reliant on outside parties for both supply and capital. It has no approved products or commercial revenue, funding development of TARA-002 and IV Choline Chloride entirely through capital raises, and it relies completely on third-party contractors — which may include sole-source suppliers and manufacturers — to supply, make, and distribute its clinical drug supplies and any future commercial product. Should a candidate reach approval, its pricing would face the Inflation Reduction Act's Medicare drug-price negotiation, which directs HHS to negotiate prices for a growing number of single-source drugs under Parts B and D.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Sole-source dependency
- Complete reliance on third-party contractors, including sole-source manufacturershigh
Protara relies completely on third-party contractors — which may include sole-source suppliers and manufacturers — to supply, manufacture, and distribute its clinical drug supplies and any future commercial product.
“We rely completely on third-party contractors to supply, manufacture and distribute clinical drug supplies for our product candidates, which may include sole-source suppliers and manufacturers;”
SEC filing →As of 2026
Regulatory & policy
- Inflation Reduction Act Medicare drug-price negotiationmedium
The IRA requires HHS to directly negotiate prices for a growing number of high-expenditure single-source drugs and biologics reimbursed under Medicare Part B and Part D, subject to a statutory ceiling, which could constrain future pricing of Protara's candidates if approved.
“The IRA also requires HHS to directly negotiate the selling price of a statutorily specified number of drugs and biologics each year that CMS reimburses under Medicare Part B and Part D.”
Liquidity & debt
- Pre-revenue clinical-stage company with no approved productslow
Protara has no approved products and no commercial revenue, funding TARA-002 and IV Choline Chloride development entirely through capital raises (e.g., warrant/equity offerings), making it dependent on continued financing.
“We have no products approved for commercial sale and have not generated any revenue from commercial product sales.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
Chugai Pharmaceutical Co., Ltd.
“We have only received the exclusive rights to the materials required to commercialize TARA-002 in territories other than Japan and Taiwan until June 17, 2030, or an earlier date if Chugai Pharmaceutical terminates th”
Cited →University of Iowa
“the Company would pay the University of Iowa royalties of up to 1.75% for net sales ranging from $0 - $25,000, 2.25% for net sales ranging from $25,000 to $50,000, and 2.50% for net sales in”
Cited →
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