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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