Prothena Stock Price, News & Analysis

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.

Prothena Corporation (NASDAQ:PRTA) has secured a $60 million milestone from Roche following the first patient dosing in the Phase 2b PADOVA study of prasinezumab, targeting early Parkinson's disease. This adds to the $75 million previously received, totaling $135 million in milestone payments from Roche. Prasinezumab, an anti-alpha-synuclein antibody, is in late-stage development after showing efficacy in the Phase 2 PASADENA study. The PADOVA study will enroll about 575 patients, aiming to assess the drug's efficacy and safety, marking a significant advancement in treatment for Parkinson's disease.

Dublin, Ireland—May 7, 2021—Prothena Corporation plc (NASDAQ:PRTA) announced the hiring of two new employees, accompanied by the grant of options to purchase 155,000 ordinary shares at an exercise price of $27.04, based on the closing price on May 3. The options, part of the 2020 Employment Inducement Incentive Plan, will vest over four years, with a quarter vesting after one year and the rest monthly thereafter. Prothena focuses on developing therapeutics for rare peripheral amyloid and neurodegenerative diseases, leveraging extensive scientific expertise.

Prothena Corporation plc (NASDAQ:PRTA) will report its Q1 2021 financial results on May 11, 2021, after U.S. market close. Consistent with past practices, the company will not host a conference call for this release. Prothena specializes in treating rare peripheral amyloid and neurodegenerative diseases, leveraging decades of research in protein dysregulation. Its pipeline includes candidates targeting AL amyloidosis, ATTR amyloidosis, Alzheimer's, Parkinson's, and other related diseases.

Prothena Corporation (NASDAQ:PRTA) reported favorable outcomes from its Phase 1 study of PRX004, presented at AAN 2021. Notably, all 7 evaluable patients showed a mean change in Neuropathy Impairment Score (NIS) of +1.29 points, significantly better than the expected +9.2 points. Additionally, 3 patients experienced an improvement in neuropathy with a mean change of -3.33 points. All patients also demonstrated improved cardiac function, indicated by a decrease in global longitudinal strain (GLS). The treatment was found generally safe and well tolerated.

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.