Protara Therapeutics, Inc.

PRTO

Held by 2 specialist biotech funds

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Fund Holdings

Baker Bros. Advisors Driehaus Capital

AI Signal

## Signal Note: Baker Bros.

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Catalysts

No catalysts tracked.

Activist Filings

SC 13G/ARA Capital Management4.9%Aug 14, 2025

SC 13G/ARA Capital Management9.9%Feb 14, 2025

SC 13G

Position Details

Baker Bros. AdvisorsNEWFeb 17, 2026

Shares: 971,614Value: $5.2M

## Signal Note: Baker Bros. Initiates Position in Protara Therapeutics (TARA) **Note: The reported position value of ~$5.2B appears to be a data error — TARA's entire market cap is roughly $50-70M. The share count (~971K) is plausible and likely represents a position in the low single-digit millions of dollars, consistent with a meaningful stake in a micro-cap.** Baker Bros. building a new position in Protara is notable given their discipline around clinical-stage catalysts. TARA's lead asset is **tadekinig alfa (IL-18 binding protein)** for **Adult-Onset Still's Disease (AOSD)**, a rare systemic autoinflammatory condition with limited targeted therapies, where the company has reported positive Phase II data and is advancing toward a registrational path. Baker's willingness to take a

Driehaus CapitalNEW

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Insider Signals

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Also Held by These Funds

ALKS2 funds ARGX2 funds ARWR2 funds BEIGF2 funds ABCL2 funds NUVL2 funds DSGN2 funds EWTX

Research Links

Yahoo Finance →SEC EDGAR →ClinicalTrials.gov →

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# Signal Note: Driehaus Capital Initiates PRTO Position Driehaus' $6.7M entry into Protara suggests conviction in the company's lead program, sedeficit disorder (ADHD) candidate PT101, which is progressing toward late-stage development. The timing aligns with anticipated clinical readouts and potential catalyst visibility over the next 12-18 months, though Protara remains pre-commercial with limited revenue and execution risk typical of clinical-stage biotech. This represents a meaningful allocation for a growth-focused manager with significant biotech exposure.