Protara Therapeutics Announces Second Quarter 2024 Financial Results and Provides a Business Update On track to report preliminary data from six-month evaluable patients in ADVANCED-2 trial of TARA-002 in NMIBC in Q4 202

Therapeutics Announces Second Quarter 2024 Financial Results and

Provides a Business Update

YORK, August 6, 2024 - Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical-stage company developing transformative

therapies for the treatment of cancer and rare diseases, today provided a business update and announced financial results for the second

quarter ended June 30, 2024.

first half of the year has been marked by significant progress as we advance our mission to deliver transformative therapies to patients

with cancer and rare diseases," said Jesse Shefferman, Chief Executive Officer of Protara Therapeutics. "Notably,

we were pleased with our recent announcement of positive three-month data from our TARA-002 program in patients with non-muscle invasive

bladder cancer (NMIBC). We believe our growing clinical dataset continues to support the potential of TARA-002 to serve as a meaningful

addition to the NMIBC treatment landscape and look forward to sharing interim data from our ADVANCED-2 trial in the fourth quarter of

this year. We also continue to focus on identifying the best agent for combination as we believe TARA-002's mechanism of action

and safety profile give it strong potential for use in combination therapy in NMIBC."

Shefferman continued, "Beyond the NMIBC program, we announced alignment with the FDA on a path forward for intravenous (IV) Choline

Chloride for patients on long-term parenteral nutrition (PN), and we expect to start dosing patients in our pivotal trial in the first

quarter of 2025. Finally, enrollment continues in our Phase 2 STARBORN-1 trial of TARA-002 in pediatric patients with lymphatic malformations

(LMs), an underserved population with no U.S. Food and Drug Administration (FDA)-approved therapies."

Progress and Highlights

Choline Chloride for Patients on PN

Quarter 2024 Financial Results

is an investigational cell therapy in development for the treatment of NMIBC and of LMs, for which it has been granted Rare Pediatric

Disease Designation by the U.S. Food and Drug Administration. TARA-002 was developed from the same master cell bank of genetically distinct

group A Streptococcus pyogenes as OK-432, a broad immunopotentiator marketed as Picibanil in Japan by Chugai Pharmaceutical Co.,

Ltd and also approved in Taiwan. Protara has successfully shown manufacturing comparability between TARA-002 and OK-432.

TARA-002 is administered, it is hypothesized that innate and adaptive immune cells within the cyst or tumor are activated and produce

a pro-inflammatory response with release of cytokines such as tumor necrosis factor (TNF)-alpha, interferon (IFN)-gamma IL-6, IL-10,

IL-12. TARA-002 also directly kills tumor cells and triggers a host immune response by inducing immunogenic cell death, which further

enhances the antitumor immune response.

Non-Muscle Invasive Bladder Cancer (NMIBC)

cancer is the 6th most common cancer in the United States, with NMIBC representing approximately 80% of bladder cancer diagnoses. Approximately

65,000 patients are diagnosed with NMIBC in the United States each year. NMIBC is cancer found in the tissue that lines the inner surface

of the bladder that has not spread into the bladder muscle.

Lymphatic Malformations (LMs)

are rare, congenital malformations of lymphatic vessels resulting in the failure of these structures to connect or drain into the venous

system. Most LMs are present in the head and neck region and are diagnosed in early childhood during the period of active lymphatic growth,

with more than 50% detected at birth and 90% diagnosed before the age of three years. The most common morbidities and serious manifestations

of the disease include compression of the upper aerodigestive tract, including airway obstruction requiring intubation and possible tracheostomy

dependence; intralesional bleeding; impingement on critical structures, including nerves, vessels, lymphatics; recurrent infection, and

cosmetic and other functional disabilities.

Choline Chloride is an investigational, intravenous phospholipid substrate replacement therapy initially in development for patients

receiving parenteral nutrition. Choline is a known important substrate for phospholipids that are critical for healthy liver function

and also plays an important role in modulating gene expression, cell membrane signaling, brain development and neurotransmission, muscle

function, and bone health. PN patients are unable to synthesize choline from enteral nutrition sources, and there are currently no available

PN formulations containing choline. Approximately 80 percent of PN-dependent patients are choline-deficient and have some degree of liver

damage, which can lead to hepatic failure. There are currently no available PN formulations containing choline. In the U.S. alone,

there are approximately 40,000 patients on long-term parenteral nutrition who would benefit from an IV formulation of choline. IV Choline

Chloride has the potential to become the first FDA approved IV choline formulation for PN patients. IV Choline Chloride has been granted

Orphan Drug Designation by the FDA for the prevention of choline deficiency in PN patients. The Company was issued a U.S. patent

claiming a choline composition with a term expiring in 2041.

Protara Therapeutics, Inc.

is a clinical-stage biotechnology company committed to advancing transformative therapies for people with cancer and rare diseases. Protara's

portfolio includes its lead candidate, TARA-002, an investigational cell-based therapy in development for the treatment of non-muscle

invasive bladder cancer (NMIBC) and lymphatic malformations (LMs). The Company is evaluating TARA-002 in an ongoing Phase 2 trial in

NMIBC patients with carcinoma in situ (CIS) who are unresponsive or na ve to treatment with Bacillus Calmette-Gu rin (BCG),

as well as a Phase 2 trial in pediatric patients with LMs. Additionally, Protara is developing IV Choline Chloride, an investigational

phospholipid substrate replacement for patients on parenteral nutrition who are otherwise unable to meet their choline needs via oral

or enteral routes. For more information, visit www.protaratx.com.

Klinische Einheit, or KE, is a German term indicating a specified weight of dried cells in a vial.

contained in this press release regarding matters that are not historical facts are "forward looking statements" within the

meaning of the Private Securities Litigation Reform Act of 1995. Protara may, in some cases, use terms such as "predicts,"

"believes," "potential," "proposed," "continue," "designed," "estimates,"

"anticipates," "expects," "plans," "intends," "may," "could,"

"might," "will," "should" or other words or expressions referencing future events, conditions or

circumstances that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such forward-looking

statements include but are not limited to, statements regarding Protara's intentions, beliefs, projections, outlook, analyses or

current expectations concerning, among other things: Protara's business strategy, including its development plans for its product

candidates and plans regarding the timing or outcome of existing or future clinical trials; statements related to expectations regarding

interactions with the FDA; Protara's financial position; statements regarding the anticipated safety or efficacy of Protara's

product candidates; and Protara's outlook for the remainder of the year. Because such statements are subject to risks and uncertainties,

actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that contribute to the

uncertain nature of the forward-looking statements include: risks that Protara's financial guidance may not be as expected, as

well as risks and uncertainties associated with: Protara's development programs, including the initiation and completion of non-clinical

studies and clinical trials and the timing of required filings with the FDA and other regulatory agencies; general market conditions;

changes in the competitive landscape; changes in Protara's strategic and commercial plans; Protara's ability to obtain sufficient

financing to fund its strategic plans and commercialization efforts; having to use cash in ways or on timing other than expected; the

impact of market volatility on cash reserves; failure to attract and retain management and key personnel; the impact of general U.S.

and foreign, economic, industry, market, regulatory, political or public health conditions; and the risks and uncertainties associated

with Protara's business and financial condition in general, including the risks and uncertainties described more fully under the

caption "Risk Factors" and elsewhere in Protara's filings and reports with the United States Securities and Exchange Commission.

All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's

assumptions and estimates as of such date. Protara undertakes no obligation to update any forward-looking statements, whether as a result

of the receipt of new information, the occurrence of future events or otherwise, except as required by law.

THERAPEUTICS, INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

THERAPEUTICS, INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share data)

Protara Therapeutics