Prothena Stock Price, News & Analysis

Prothena Corporation (NASDAQ: PRTA), a late-stage clinical biotechnology company focused on protein dysregulation therapeutics, has scheduled the release of its first quarter 2025 financial results for Thursday, May 8, 2025, after U.S. financial markets close. The company has indicated that, following their usual practice, they will not hold a conference call to discuss the results.

Prothena (PRTA) reported its Q4 and full year 2024 financial results. The company recorded a net loss of $58.0 million in Q4 and $122.3 million for the full year 2024. Total revenue was $2.1 million in Q4 and $135.2 million for the full year 2024.

Key financial metrics include:

• Quarter-end cash position: $472.2 million
• Net cash used in operations: $47.8 million in Q4, $150.3 million for full year
• 2025 cash guidance: Expected net cash use of $168-175 million

Notable developments include:

• Topline results expected in Q2 2025 from Phase 3 AFFIRM-AL trial of birtamimab
• Multiple clinical readouts for PRX012 starting mid-2025
• Received $80 million from Bristol Myers Squibb for PRX019 license
• Phase 2b PADOVA study results for prasinezumab in Parkinson's disease

Prothena (NASDAQ:PRTA), a late-stage clinical biotechnology company focused on protein dysregulation expertise, has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, February 20, 2025, after U.S. market close. The company will host a live audio conference call at 4:30 PM ET on the same day.

The conference call will be accessible through the company's website at www.prothena.com under the Investors tab, with a replay available for at least 90 days. Participants can also join via dial-in at +1 (800) 715-9871 (U.S./Canada toll-free) or +1 (646) 307-1963 (international) using conference ID 9788564.

Prothena (NASDAQ:PRTA) announced that Oleg Nodelman will step down from the company's Board of Directors to focus on existing and new endeavors. Nodelman, who served on the board for five years since 2019, made significant contributions to the company's current strategy. Board Chair Daniel G. Welch acknowledged Nodelman's strategic impact and his role as a veteran biotechnology investor and advisor. Nodelman expressed confidence in the company's future, particularly noting the anticipated multiple clinical readouts across the portfolio in 2025.

Prothena (NASDAQ:PRTA) announced results from Roche's Phase IIb PADOVA study of prasinezumab in early-stage Parkinson's disease. The study, involving 586 patients treated for 18+ months, missed its primary endpoint but showed potential clinical benefits. The drug demonstrated a HR=0.84 [0.69-1.01] (p=0.0657) in motor progression delay, with stronger effects in levodopa-treated patients (HR=0.79 [0.63-0.99], p=0.0431).

Covariate-adjusted analyses showed nominally significant effects on the primary endpoint (HR=0.81, p=0.0334) and in the levodopa subgroup (HR=0.76, p=0.0175). The drug was well-tolerated with no new safety concerns. The Phase II PASADENA and Phase IIb PADOVA open-label extension studies will continue while Roche evaluates next steps with health authorities.

Prothena reported Q3 2024 financial results with a net loss of $59.0 million ($1.10 per share) and revenue of $1.0 million. The company ended Q3 with $520.1 million in cash and restricted cash. Net cash used in operating and investing activities was $45.2 million for Q3. Key pipeline updates include: expected clinical readouts for PRX012 (Alzheimer's) starting mid-2025, Phase 2b PADOVA trial results for prasinezumab (Parkinson's) in Q4 2024, and Phase 3 AFFIRM-AL trial results for birtamimab (AL amyloidosis) in 1H 2025. The company maintains its 2024 guidance for net cash used in operating and investing activities at $148-160 million.

Prothena (NASDAQ:PRTA) announced it will release its third quarter and first nine months of 2024 financial results on Tuesday, November 12, 2024, after U.S. financial markets close. The company, a late-stage clinical biotechnology firm focusing on protein dysregulation expertise, stated it will not hold a conference call following the financial results release, which is consistent with their previous practices.

Prothena plc (NASDAQ:PRTA) has announced key leadership changes. Chad J. Swanson, Ph.D., has been appointed Chief Development Officer, leading clinical development and medical functions. He will join the executive leadership team, reporting to CEO Gene Kinney. Swanson, a neuropharmacologist with over 20 years of industry experience, joined Prothena in January 2023 from Eisai, Inc., where he played a important role in the lecanemab program for Alzheimer's disease.

Meanwhile, Hideki Garren, M.D., Ph.D., the current Chief Medical Officer, will be leaving to lead a global product development division at a large pharmaceutical company. Prothena will initiate a search for a new Chief Medical Officer. The company emphasized that these changes are part of a planned succession, aiming to enhance its ability to advance its broad pipeline of investigational therapeutics focused on protein dysregulation.