Prothena Stock Price, News & Analysis

Prothena Corporation (NASDAQ:PRTA) reported a net income of $27.6 million for Q2 2021, a significant improvement from a net loss of $26.3 million in the same quarter last year. Revenue for Q2 reached $60.1 million, up from $0.2 million in Q2 2020, primarily driven by collaboration payments. The company announced multiple strategic collaborations, achieving over $200 million in milestone payments in 2021. Prothena anticipates a strong cash position of approximately $491 million by year-end, up from prior guidance of $316 million. Upcoming milestones include key clinical data presentations.

DUBLIN, Ireland, July 29, 2021 – Prothena Corporation plc (NASDAQ:PRTA) will release its second quarter and first half of 2021 financial results on August 5, 2021, after U.S. market close. The company, known for its investigational therapeutics targeting protein dysregulation associated with rare peripheral amyloid and neurodegenerative diseases, will not hold a conference call for this release. Prothena aims to advance its pipeline, which includes treatments for AL amyloidosis, ATTR amyloidosis, Alzheimer's, and Parkinson's diseases.

Prothena Corporation (NASDAQ:PRTA) presented promising data on its Alzheimer’s disease programs at the Alzheimer’s Association International Conference 2021. Highlights include the late-breaking poster on PRX012, demonstrating effective clearance of Aβ plaque in brain tissue, and a dual Aβ-tau vaccine that generates antibodies to target both amyloid and tau pathologies. PRX012 is noted for its high potency and potential for subcutaneous administration, promising improved patient compliance. The Investigational New Drug Application for PRX012 is anticipated in Q1 2022, enhancing Prothena's robust Alzheimer’s portfolio.

Dublin, Ireland, July 20, 2021 - Prothena Corporation plc (NASDAQ:PRTA) announced it will present preclinical data on its Alzheimer’s disease programs at the Alzheimer’s Association International Conference 2021 (July 26-30). The presentations will cover PRX012, a next-generation anti-amyloid beta antibody, and a dual Aβ-tau vaccine. PRX012 aims for improved efficacy and safety, with an IND expected in Q1 2022. The dual vaccine is designed to tackle both Aβ plaques and tau tangles, presenting significant therapeutic potential in addressing Alzheimer's, which currently affects over 5.8 million Americans.

Prothena Corporation and Novo Nordisk announced a definitive agreement for Novo Nordisk to acquire Prothena's clinical stage antibody, PRX004, aimed at treating ATTR cardiomyopathy. This deal includes milestone payments totaling up to $1.2 billion, with $100 million in upfront payments. PRX004, which has completed Phase 1 studies, is designed to deplete amyloid deposits linked to this rare heart disease. Novo Nordisk will focus on advancing PRX004 to address unmet medical needs in cardiac patients.

Prothena Corporation has entered a significant collaboration with Bristol Myers Squibb, receiving $80 million for the exclusive U.S. license of its anti-tau antibody, PRX005, aimed at treating Alzheimer's disease. This agreement marks the initiation of the Phase 1 study for PRX005, which specifically targets the microtubule binding region of tau—key to the progression of Alzheimer’s. With this licensing deal, Prothena's total income from this collaboration rises to $230 million, potentially leading to up to $2.2 billion in future milestone payments.

Dublin-based Prothena Corporation plc (NASDAQ:PRTA) announced participation in a fireside chat at the JMP Securities Life Sciences Conference on June 16, 2021, at 3:00 PM ET. The chat will be accessible via a live webcast on the company’s investor relations website, with a replay available for 90 days post-event. Prothena focuses on developing therapies targeting protein dysregulation related to rare peripheral amyloid and neurodegenerative diseases, including AL amyloidosis, ATTR amyloidosis, Alzheimer’s, and Parkinson’s disease.

Prothena Corporation plc (NASDAQ:PRTA) has appointed Sanjiv K. Patel, MBBS, MA, MBA, to its Board of Directors. With extensive leadership experience, including roles at Relay Therapeutics and Allergan, Patel is expected to guide Prothena through its transition to a fully integrated biotechnology company. The Chairman, Lars Ekman, expressed optimism about Patel's contributions during this transformational phase. Prothena focuses on protein dysregulation and has a promising pipeline targeting various neurodegenerative diseases, including amyloidosis and Alzheimer’s disease.

Prothena Corporation reported a net loss of $36.7 million for Q1 2021, widening from a loss of $23.6 million in Q1 2020. Total revenue reached $0.2 million, a slight increase from $0.1 million year-over-year. R&D expenses rose to $21.1 million, primarily due to higher clinical trial costs for birtamimab and prasinezumab. With cash and equivalents of $345.7 million, the company expects to utilize $51 to $74 million in cash for the full year while revising year-end cash guidance to approximately $316 million. Significant clinical developments include advancements in Phase 3 AFFIRM-AL study and a $60 million milestone from Roche.