Prothena Stock Price, News & Analysis

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.

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.