Core Viewpoint - Kuehn Law, PLLC is investigating potential breaches of fiduciary duties by officers and directors of Prothena Corporation PLC, focusing on possible self-dealing that may affect shareholders [1]. Group 1 - The investigation by Kuehn Law concerns whether certain officers and directors of Prothena Corporation PLC have engaged in self-dealing, which could lead to damages and corporate governance reforms for shareholders [1]. - Shareholders of Prothena Corporation PLC are encouraged to contact Kuehn Law for a free consultation regarding their rights and potential claims [2]. - The firm emphasizes the importance of shareholder participation in maintaining the integrity and fairness of financial markets [3].

A month has gone by since the last earnings report for Prothena (PRTA) . Shares have lost about 17.9% 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 Q3 Earnings Beat Estimates, Pipeline Progress in ...

Prothena Corporation (PRTA) reported a loss per share of $1.10 per share in the third quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of $1.18.In the year-ago quarter, the company posted earnings of 38 cents per share, driven by higher revenues.Third-quarter 2024 revenues totaled $1 million, which missed the Zacks Consensus Estimate of $2 million. PRTA recorded revenues of $85 million in the third quarter of 2023 on the back of collaboration revenues from partner Bristol Myers Squibb ( ...

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].