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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 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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