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Prothena Corporation plc (NASDAQ: PRTA) is a leading biotechnology company dedicated to the discovery, development, and commercialization of novel protein immunotherapies. These therapies aim to treat diseases involving amyloid or cell adhesion. Prothena's core business focuses on developing therapeutic monoclonal antibodies that target disease-causing proteins.
The company's investigational therapeutics are designed to address various serious conditions. Prothena's product candidates target a range of indications, including:
- Amyloid Light-chain (AL) amyloidosis (NEOD001): Currently in a global Phase 3 registration clinical trial, known as the VITAL Amyloidosis Study. Additionally, there is an ongoing Phase 1/2 trial.
- Parkinson’s disease and other synucleinopathies (PRX002): Undergoing a Phase 1 multiple ascending dose clinical trial.
- Psoriasis and other inflammatory diseases (PRX003): In a Phase 1 single ascending dose clinical trial.
Prothena’s lead program, NEOD001, is aimed at treating AL amyloidosis, a serious condition that affects the organs. PRX002 and PRX003 are also significant as they target critical unmet needs in neurodegenerative and inflammatory diseases.
The company’s strategy is underpinned by a robust scientific approach and a pipeline of promising candidates. Prothena is led by an elite team with a proven track record in biotechnology and pharmaceuticals, working tirelessly to bring breakthrough therapies to market.
Financially, Prothena is in a strong position, bolstered by strategic partnerships and a focus on high-potential therapeutic areas. The company continues to advance its clinical programs while exploring new avenues for growth and innovation.
Latest News: Stay updated with the most recent developments and updates from Prothena Corporation plc.
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.
Prothena plc (NASDAQ:PRTA), a late-stage clinical biotech company, has announced its participation in two upcoming healthcare conferences. The company will attend the Morgan Stanley 22nd Annual Global Healthcare Conference on September 5, where it will hold one-on-one investor meetings. Additionally, Prothena will participate in the Cantor Global Healthcare Conference on September 17, featuring a fireside chat at 1:55 PM ET.
Investors can access a live webcast of the fireside chat through Prothena's website. A replay will be available for 90 days following the presentation. This engagement in high-profile conferences highlights Prothena's commitment to investor relations and showcases its robust pipeline of investigational therapeutics focused on protein dysregulation.
Prothena plc (NASDAQ:PRTA) reported financial results for Q2 2024, highlighting net income of $66.9 million and total revenue of $132.0 million. Key developments include:
1. Bristol Myers Squibb's $80 million exclusive global license for PRX019, a potential neurodegenerative disease treatment.
2. Ongoing clinical trials for PRX012 (Alzheimer's) and birtamimab (AL amyloidosis).
3. Revised year-end cash guidance to $468 million, up $63 million from previous guidance.
4. Expected topline results from four clinical programs within 12 months.
5. Q2 cash position of $565.0 million with no debt.
Prothena plc (NASDAQ:PRTA), a late-stage clinical biotechnology company specializing in protein dysregulation, has announced it will release its second quarter and first six months of 2024 financial results on Thursday, August 8, 2024, after the U.S. financial markets close. The company, which focuses on developing investigational therapeutics, has stated that it will not conduct a conference call in conjunction with this financial results release, maintaining its usual practice.
Prothena (NASDAQ: PRTA) announced that Bristol Myers Squibb has acquired an exclusive global license for PRX019, a potential treatment for neurodegenerative diseases, resulting in an $80 million payment to Prothena. The FDA cleared PRX019's investigational new drug application in December 2023, and Prothena plans to start a Phase 1 clinical trial by late 2024. The collaboration with Bristol Myers Squibb aims to advance PRX019 as part of Prothena's broader portfolio, with potential additional milestone payments totaling up to $617.5 million and tiered royalties on net sales.
Prothena plc (NASDAQ:PRTA) reported net cash used in operating and investing activities of $73.2 million in Q1 2024 with a cash position of $548.7 million. The company advanced potential Alzheimer's and Parkinson's disease treatments, strengthened its leadership position in the amyloidosis community, and appointed Daniel G. Welch to the Board of Directors. Financially, Prothena reported a net loss of $72.2 million, total revenue of $0.1 million, R&D expenses of $64.1 million, and G&A expenses of $17.5 million for Q1 2024.
Prothena plc (NASDAQ:PRTA) will report its first quarter 2024 financial results on May 8, 2024, after the close of the U.S. financial markets. The company, a late-stage clinical biotechnology firm focusing on investigational therapeutics, will not host a conference call along with the results release.
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