Prothena Corporation plc Ordinary Shares - PRTA STOCK NEWS

Prothena Corporation plc (NASDAQ:PRTA) announced that results from its Phase 1 study of PRX004 in ATTR amyloidosis will be presented at the American Academy of Neurology (AAN) 2021 Virtual Annual Meeting on April 18. The study, led by Dr. Ole Suhr, indicates positive outcomes showcasing PRX004’s novel depleter mechanism. Dr. Hideki Garren emphasized the need for new therapies for advanced ATTR cardiomyopathy patients. The oral presentation will include data and a Q&A session, highlighting the potential of PRX004 in treating a deadly disease.

Prothena Corporation plc (NASDAQ:PRTA) announced the hiring of Dr. Hideki Garren as Chief Medical Officer. To incentivize this new role, the compensation committee awarded Dr. Garren an option to purchase 250,000 ordinary shares at $24.90 per share, the closing price on April 5, 2021. Additionally, another new employee received an option to purchase 30,000 shares at $24.74, the closing price on April 1, 2021. These options will vest over four years, promoting long-term commitment from new hires.

Prothena Corporation announces the appointment of Dr. Hideki Garren as Chief Medical Officer, effective April 5, 2021. Dr. Garren will lead the company's clinical programs in neurology and rare diseases, leveraging his extensive experience from Roche and Novartis. His expertise in advancing late-stage development programs aligns with Prothena's transition to a fully integrated R&D and commercial enterprise. The company aims to enhance its pipeline targeting serious conditions like AL amyloidosis and Alzheimer’s disease, positioning itself for significant growth in the biotechnology sector.

Prothena Corporation plc (NASDAQ:PRTA) announced the pricing of a public offering of 3,500,000 ordinary shares at $20.75 each, raising approximately $67.8 million in net proceeds. The offering will close on March 26, 2021, pending customary conditions. Prothena has granted underwriters a 30-day option to purchase an additional 525,000 shares. Funds from the offering will likely be used to support the company's pipeline focused on rare amyloid and neurodegenerative diseases.

Prothena Corporation plc (NASDAQ:PRTA) has announced the commencement of an underwritten public offering of its ordinary shares, all of which will be sold by the company. There is a 30-day option for underwriters to purchase an additional 15% of shares. The offering is subject to market conditions and the actual terms are not guaranteed. Citigroup, Jefferies, and Cantor are acting as joint book-running managers. This offering follows an automatic shelf registration statement filed with the SEC on March 23, 2021.

Prothena Corporation (NASDAQ:PRTA) announces promising developments in Alzheimer's and Parkinson's disease treatments. The anti-tau antibody PRX005 shows superior potential for Alzheimer's, with an IND submission and Phase 1 study planned for Q3 2021. Additionally, prasinezumab, in collaboration with Roche, is advancing to Phase 2b PADOVA study in early Parkinson's patients, expected to start in Q2 2021. An investor conference call is scheduled for March 11, 2021, to discuss findings from the AD/PD 2021 conference, showcasing Prothena's advancements in neurodegenerative disease therapeutics.

Prothena Corporation reported promising preclinical data for PRX005, a novel anti-tau antibody aimed at treating Alzheimer’s disease, which displayed superior attributes in a variety of models. The company will present these findings at the upcoming AD/PD conference. Additionally, new subgroup analyses and digital biomarker data from the Phase 2 PASADENA study of prasinezumab in early Parkinson's disease will also be featured. These presentations mark significant steps in Prothena's collaboration with Bristol Myers Squibb and Roche, supporting their pipeline of treatments for neurodegenerative diseases.

Prothena Corporation (NASDAQ: PRTA) reported a net loss of $30.7 million for Q4 2020, increasing its annual loss to $111.1 million. Despite this, the company holds $298.1 million in cash, which supports its R&D efforts. Significant advancements include the initiation of the Phase 3 AFFIRM-AL study for birtamimab in AL amyloidosis and positive results for prasinezumab in Parkinson’s disease. The company also plans to file an IND for PRX005 in 2021 and anticipates a $60 million milestone payment related to prasinezumab's Phase 2b study.

Prothena Corporation (NASDAQ:PRTA) announced the granting of options to purchase a total of 75,000 ordinary shares as part of the hiring of three new employees. The options have an exercise price of $11.00, reflecting the closing price on February 1, 2021. These inducement awards will vest over four years, with 25% vesting after one year and the remainder vesting monthly thereafter. This action is part of Prothena’s strategy to attract talent and is in accordance with their Employment Inducement Incentive Plan.