Prothena Corporation plc Ordinary Shares - PRTA STOCK NEWS

Prothena Corporation plc (NASDAQ:PRTA) announced positive Phase 1 results for PRX004, an anti-amyloid immunotherapy targeting ATTR amyloidosis. All 7 evaluable patients exhibited a +1.29 point change in Neuropathy Impairment Score (NIS) after 9 months, significantly better than the expected +9.2 points from untreated patients. Three patients reported improvement in neuropathy, with a mean change of –3.33 points. Additionally, cardiac function improved in all evaluable patients. PRX004 demonstrated a favorable safety profile, with no serious adverse events reported.

Prothena Corporation (NASDAQ:PRTA) announced the grant of options to purchase 90,000 ordinary shares to two new employees. The options have an exercise price of $11.00, reflecting the closing price as of December 1, 2020. These options will vest over four years, with 25% vesting after one year and the remaining shares vesting monthly thereafter. This incentive aims to encourage new talent to join Prothena, a company specializing in therapeutics for neurodegenerative diseases and amyloid-related conditions.

Prothena Corporation reported a net loss of $30.6 million for Q3 2020, compared to $19.4 million in Q3 2019. The company has $317.2 million in cash as of September 30, 2020, ensuring funding for ongoing R&D initiatives. Key highlights include the presentation of positive Phase 2 results for prasinezumab in Parkinson's disease, showing a 35% reduction in motor decline, and its advancement into a late-stage study. The company plans to earn a $60 million milestone payment upon dosing the first patient in this study.

Prothena Corporation presents preclinical data on its Alzheimer’s disease portfolio at CTAD 2020, showcasing next-generation anti-Aβ antibodies and a multi-immunogen Aβ-tau vaccine. The anti-Aβ antibodies, designed for subcutaneous administration, exhibit 11-fold greater binding strength to amyloid compared to aducanumab, enhancing patient access. The dual-target vaccine aims to tackle both Aβ and tau pathologies, generating balanced immune responses. Prothena's innovative approaches address significant challenges in patient treatment accessibility and represent a potential step forward in Alzheimer’s therapeutics.

Prothena Corporation plc (NASDAQ:PRTA) will disclose its third quarter and first nine months of 2020 financial results on November 4, after U.S. market close. The company specializes in protein dysregulation and has an extensive pipeline targeting neurodegenerative and rare amyloid diseases. Notably, it collaborates with Roche on prasinezumab for Parkinson’s and with Bristol-Myers Squibb for Alzheimer’s and related conditions. Prothena will not hold a conference call for this earnings release.

Prothena Corporation has announced that its anti-alpha-synuclein antibody, prasinezumab, will progress to a Phase 2b study focusing on patients with early Parkinson's disease, following positive results from the PASADENA study. This trial is set to evaluate efficacy further and is expected to initiate in 2021. Prothena will receive a $60 million milestone payment upon dosing the first patient. The ongoing research aims to address the underlying causes of Parkinson's, impacting a significant number of individuals globally, as current treatments only manage symptoms.

Prothena Corporation (NASDAQ: PRTA) announced the hiring of two new employees, granting stock options to purchase 50,000 shares at an exercise price of $10.31 each. The options will vest over four years, with 25% vesting after one year and the remainder monthly thereafter. This move is part of Prothena’s 2020 Employment Inducement Incentive Plan aimed at attracting talent in the field of neurodegenerative diseases. Prothena focuses on investigational therapeutics for amyloid diseases and has partnered programs targeting various neurological conditions.

Prothena Corporation plc (NASDAQ: PRTA) will hold an investor webcast today at 1:30 PM ET following Roche's presentation of the Phase 2 PASADENA study results at the MDS Virtual Congress 2020. The webcast will review the findings from this study, which focuses on therapeutics for neurodegenerative diseases. Investors can access the presentation via Prothena's website, with a replay available for 90 days. Prothena specializes in developing treatments for conditions such as Parkinson's disease and amyloidosis, leveraging its expertise in protein dysregulation.

Prothena Corporation (NASDAQ:PRTA) announced encouraging results from the Phase 2 PASADENA study of prasinezumab, an anti-alpha-synuclein antibody aimed at early Parkinson's disease. Although the primary endpoint was not met, significant efficacy signals were observed, including a 35% reduction in motor function decline compared to placebo after one year. The drug also delayed clinically meaningful worsening of motor progression. These results support further clinical development of prasinezumab as a potential disease-modifying therapy, with an investor webcast scheduled for September 15, 2020.