Prothena (PRTA) came out with a quarterly loss of $1.10 per share versus the Zacks Consensus Estimate of a loss of $1.18. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.78%. A quarter ago, it was expected that this drug developer would post a loss of $1.01 per share when it actually produced earnings of $1.22, delivering a surprise of 220.79%.Over the last four quarters, the company has su ...

Prothena (PRTA) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. In ...

Prothena (PRTA) shares rallied 15% in the last trading session to close at $17.59. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 23.7% loss over the past four weeks.Prothena owns a robust Alzheimer's Disease (“AD”) pipeline that spans next-generation antibody immunotherapy, small molecules and vaccines. The pipeline progress has been encouraging. PRTA's collaboration with bigwigs like Roche and Bristol Myer ...

Prothena (PRTA) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a changing e ...

Prothena Corporation (PRTA) reported earnings per share of $1.22 per share in the second quarter of 2024, and the Zacks Consensus Estimate for the same was pegged at a loss of $1.01 per share. In the year-ago quarter, the company posted a loss of $1.03 per share. The upside in earnings was driven by higher revenues. Revenues totaled $132 million, which beat the Zacks Consensus Estimate of $22 million and improved significantly from $4 million in the year-ago quarter. Collaboration fees recognized under an a ...

Prothena (PRTA) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of a loss of $1.01 per share. This compares to loss of $1.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 220.79%. A quarter ago, it was expected that this drug developer would post a loss of $1.21 per share when it actually produced a loss of $1.34, delivering a surprise of -10.74%. Over the last four quarters, the co ...

Financial Performance - Prothena reported net income of $66.9 million for Q2 2024, compared to a net loss of $54.6 million in Q2 2023[5]. - Total revenue for Q2 2024 was $132.0 million, a significant increase from $4.0 million in Q2 2023, primarily driven by collaboration revenue from Bristol Myers Squibb[6]. - Basic net income per share for the three months ended June 30, 2024, was $1.24, compared to a loss of $1.03 per share in the same period of 2023[13]. - The company reported a basic net income per share of $1.24 for the six months ended June 30, 2024, compared to a loss of $0.10 per share in the same period of 2023[13]. Cash and Assets - Cash position at the end of Q2 2024 was $565.0 million, with an updated year-end cash guidance of approximately $468 million, an increase of $63 million from prior guidance[1][10]. - Total assets decreased to $645,565,000 as of June 30, 2024, from $696,382,000 as of June 30, 2023[14]. - Total liabilities decreased significantly to $63,648,000 as of June 30, 2024, from $135,017,000 as of June 30, 2023[14]. - Total shareholders' equity increased to $581,917,000 as of June 30, 2024, compared to $561,365,000 as of June 30, 2023[14]. Expenses - Research and development (R&D) expenses for Q2 2024 totaled $57.5 million, slightly up from $56.0 million in Q2 2023, primarily due to higher clinical trial expenses[7]. - General and administrative (G&A) expenses for Q2 2024 were $16.1 million, compared to $14.5 million in Q2 2023, reflecting higher personnel and consulting expenses[8]. - Operating expenses for the three months ended June 30, 2024, totaled $73,637,000, up from $70,523,000 in the same period of 2023[13]. - Total other income for the three months ended June 30, 2024, was $6,470,000, compared to $7,603,000 in the same period of 2023[13]. Clinical Trials and Collaborations - Prothena plans to initiate a Phase 1 clinical trial for PRX019 by the end of 2024, following the exclusive global license agreement with Bristol Myers Squibb for $80 million[3][4]. - Topline results from the ongoing Phase 1 ASCENT program for PRX012 and the confirmatory Phase 3 AFFIRM-AL clinical trial for birtamimab are expected within the next 12 months[2][3]. - The ongoing Phase 2 clinical trial for ATTR cardiomyopathy, conducted by Novo Nordisk, has completed enrollment of approximately 99 patients, with topline data expected in 1H 2025[5]. - Prothena's collaboration with Bristol Myers Squibb includes potential additional milestone payments of up to $617.5 million for PRX019[3]. Future Projections - The company expects to end 2024 with an estimated net loss of $120 to $135 million, including approximately $48 million of non-cash share-based compensation expense[10].

The market expects Prothena (PRTA) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. Zacks Consensus Estimate Estimate Revisions Trend The consensus EPS estimate for the quarter has remained unchanged over the last 30 da ...

A month has gone by since the last earnings report for Prothena (PRTA) . Shares have lost about 1.5% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Prothena due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Prothena Q1 Earnings Miss Estimates on Higher R&D Expense ...

Core Viewpoint - Prothena Corporation plc has entered into a licensing agreement with Bristol Myers Squibb for PRX019, a potential treatment for neurodegenerative diseases, marking the second candidate licensed under their collaboration [1][2]. Group 1: Licensing Agreement Details - Bristol Myers has secured exclusive global rights to PRX019, following FDA clearance of Prothena's investigational new drug application in December 2023 [2]. - Prothena will receive an upfront payment of $80 million and may earn up to $617.5 million in additional milestone payments, along with tiered royalties on net sales [4]. - The original collaboration agreement was established in 2018 with Celgene, now part of Bristol Myers, allowing for the acquisition of rights to develop antibodies targeting tau, TDP-43, and an undisclosed target [5]. Group 2: Financial and Market Impact - Prothena's shares rose by 2.4% in after-market trading on May 28, despite a year-to-date decline of 45.1%, compared to a 5.7% decline in the industry [3]. - The phase I studies for the in-licensed candidates will be funded by Prothena, with Bristol Myers having the option to take over development and commercialization based on study results [6]. Group 3: Other Candidates and Collaborations - The first candidate licensed under this agreement is BMS-986446 (formerly PRX005), an anti-tau antibody in development for Alzheimer's Disease [7]. - Prothena's lead candidate is PRX012, targeting amyloid beta, which is in early-stage development for Alzheimer's Disease [8].