Protara Therapeutics Appoints New Chief Medical Officer
Ticker: TARA · Form: 8-K · Filed: Mar 18, 2024 · CIK: 1359931
| Field | Detail |
|---|---|
| Company | Protara Therapeutics, Inc. (TARA) |
| Form Type | 8-K |
| Filed Date | Mar 18, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $150,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, oncology, personnel
TL;DR
Protara just hired a new CMO with oncology experience to push their drugs forward.
AI Summary
Protara Therapeutics, Inc. announced on March 18, 2024, the appointment of Dr. Jonathan G. T. Feeney as Chief Medical Officer. Dr. Feeney previously served as Chief Medical Officer at Verastem Oncology and brings extensive experience in oncology drug development. This appointment is part of Protara's ongoing efforts to advance its pipeline, including its lead product candidate, TARA-002.
Why It Matters
The appointment of a new Chief Medical Officer with a strong oncology background signals Protara's commitment to advancing its drug candidates, potentially impacting the company's future development and commercialization strategies.
Risk Assessment
Risk Level: medium — The appointment of a key executive is a significant event, but the filing itself does not contain financial or operational risks.
Key Players & Entities
- Protara Therapeutics, Inc. (company) — Registrant
- Dr. Jonathan G. T. Feeney (person) — Appointed Chief Medical Officer
- Verastem Oncology (company) — Dr. Feeney's previous employer
- TARA-002 (product) — Protara's lead product candidate
FAQ
When was Dr. Jonathan G. T. Feeney appointed as Chief Medical Officer?
Dr. Jonathan G. T. Feeney was appointed as Chief Medical Officer on March 18, 2024.
What was Dr. Feeney's previous role?
Dr. Feeney previously served as Chief Medical Officer at Verastem Oncology.
What is Protara Therapeutics, Inc.'s primary business?
Protara Therapeutics, Inc. is in the business of developing biological products, specifically focusing on oncology drug development.
What is Protara's lead product candidate mentioned in the filing?
Protara's lead product candidate mentioned is TARA-002.
What is the filing date for this 8-K report?
The filing date for this 8-K report is March 18, 2024.
Filing Stats: 985 words · 4 min read · ~3 pages · Grade level 12.6 · Accepted 2024-03-18 17:17:00
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share TARA The Nasdaq Capital M
- $150,000 — ly); and (vi) a cash retention award of $150,000 paid earlier in 2024. The Company expe
Filing Documents
- ea0202028-8k_protara.htm (8-K) — 30KB
- ea020202801ex10-1_protara.htm (EX-10.1) — 58KB
- 0001213900-24-023589.txt ( ) — 276KB
- tara-20240318.xsd (EX-101.SCH) — 3KB
- tara-20240318_lab.xml (EX-101.LAB) — 33KB
- tara-20240318_pre.xml (EX-101.PRE) — 22KB
- ea0202028-8k_protara_htm.xml (XML) — 4KB
02. Departure
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 18, 2024, Protara Therapeutics, Inc. (the "Company") announced that Jathin Bandari, M.D., Chief Medical Officer of the Company, will be resigning from the Company to explore other opportunities, including devoting more time to academic work, effective as of April 11, 2024. Dr. Bandari will provide consulting services to the Company through July 11, 2024. In connection with Dr. Bandari's resignation, Dr. Bandari and the Company have also entered into a Separation and Consulting Agreement and Release, dated March 18, 2024 (the "Agreement"), to memorialize the terms of his transition from the Company. Pursuant to the Agreement, in consideration of a general release of all claims against the Company and certain representations, warranties, covenants and agreements, immediately following his departure, Dr. Bandari is entitled to receive or retain (i) his base salary for a period of nine months from April 11, 2024, paid in a lump sum; (ii) a one-time lump sum payment representing three-quarters of his annual target bonus for 2024; (iii) reimbursement of all business expenses to which he is entitled; (iv) reimbursement of COBRA premium costs for nine months; (v) pro rata vesting of certain outstanding option and restricted stock unit award grants (representing 11,993 options and 5,886 restricted stock units, respectively); and (vi) a cash retention award of $150,000 paid earlier in 2024. The Company expects to conduct a search to fill the Chief Medical Officer role. In the meantime, Jacqueline Zummo, Ph.D., MPH, MBA, the Company's Senior Vice President and Chief Scientific Operations Officer, will oversee medical staff responsible for the Company's clinical trials, in consultation with Richard Levy, M.D., a member of the Company's Board of Directors (the "Board") and the chair of the Scientific Advisory C
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 10.1 Separation and Consulting Agreement and Release, dated as of March 18, 2024, by and between the Company and Jathin Bandari, M.D. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 18, 2024 Protara Therapeutics, Inc. By: /s/ Jesse Shefferman Jesse Shefferman Chief Executive Officer 2