Prothena(PRTA)

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Prothena(PRTA) - 2024 Q2 - Quarterly Results
2024-08-08 20:09
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].
Prothena (PRTA) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release
ZACKS· 2024-07-25 15:07
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 ...
Why Is Prothena (PRTA) Down 1.5% Since Last Earnings Report?
ZACKS· 2024-06-07 16:36
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 ...
Prothena (PRTA), Bristol Myers Tie Up for Second Neuro Candidate
zacks.com· 2024-05-29 15:31
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].
Prothena(PRTA) - 2024 Q1 - Quarterly Report
2024-05-08 20:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q _____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35676 ______________________________________ PROTHENA CORPORATION PUBLIC LIMITED COM ...
Prothena(PRTA) - 2024 Q1 - Quarterly Results
2024-05-08 20:09
Exhibit 99.1 PRESS RELEASE Prothena Reports First Quarter 2024 Financial Results and Business Highlights DUBLIN, Ireland, May 8, 2024 -- Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, today reported financial results for the first quarter of 2024 and provided business highlights. "We continued to meaningfully advance our wholly-owned and partnered programs across our protein ...
Prothena(PRTA) - 2023 Q4 - Annual Report
2024-02-22 21:56
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-K ______________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2023 (Exact name of registrant as specified in its charter) ______________________________________ (State or other jurisdiction of incorporation or organization) Ireland 98-1111119 (I.R.S. Employer Identification No.) 77 S ...
Prothena(PRTA) - 2023 Q4 - Earnings Call Transcript
2024-02-16 04:53
Prothena Corporation plc (NASDAQ:PRTA) Q4 2023 Earnings Conference Call February 15, 2023 4:30 PM ET Company Participants Mark Johnson - Vice President of Investor Relations Gene Kinney - President and Chief Executive Officer Hideki Garren - Chief Medical Officer Tran Nguyen - Chief Financial Officer and Chief Strategy Officer Brandon Smith - Chief Operating Officer Conference Call Participants Charles Duncan - Cantor Fitzgerald Jay Olson - Oppenheimer Neena Bitritto-Garg - Citi Yasmeen Rahimi - Piper Sandl ...
Prothena(PRTA) - 2023 Q4 - Earnings Call Presentation
2024-02-16 01:00
200 mg n= ~32 (3:1) - ascent-2 • Evaluate the safety, tolerability, immunogenicity, pharmacokinetics, and pharmacodynamics of PRX012 in patients with Alzheimer's disease 16 Anti-α-synuclein Antibody • 10 million patients globally5 Ongoing Phase 2b PADOVA (NCT04777331) • Primary Endpoint: Time to confirmed motor progression event 3-year change from baseline in MDS-UPDRS Part III OFF score7 NNC6019: Potential First-in-Class Treatment for ATTR Amyloidosis Tran Nguyen Chief Strategy Officer and Chief Financial ...
Prothena(PRTA) - 2023 Q3 - Quarterly Report
2023-11-02 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35676 ______________________________________ PROTHENA CORPORATION PUBLIC LIMITED COMPANY (Exact name of registrant as specified in its charter) __________________________________ ...