Prothena Stock Price, News & Analysis

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.

Prothena Corporation plc (NASDAQ:PRTA) will report its fourth quarter and full year 2020 financial results on February 11, 2021, prior to U.S. market opening. A live audio conference call will follow at 8:30 AM ET, accessible on the Company’s website. Prothena specializes in therapeutics for rare amyloid and neurodegenerative diseases, boasting a pipeline including birtamimab for AL amyloidosis, PRX004 for ATTR amyloidosis, and Alzheimer’s disease programs. The company is collaborating with Roche and Bristol-Myers Squibb on additional treatment candidates.

Prothena Corporation announced significant findings from the VITAL study, highlighting birtamimab's survival benefit in Mayo Stage IV AL amyloidosis patients, achieving a hazard ratio of 0.413 (p=0.025) over 9 months. Following these results, Prothena has entered a Special Protocol Assessment (SPA) agreement with the FDA for a confirmatory Phase 3 study, AFFIRM-AL, set to begin in mid-2021, focusing on all-cause mortality (p<0.10). The total enrollment will target about 150 patients and will assess secondary endpoints related to quality of life.

Prothena Corporation plc (NASDAQ:PRTA) announced positive Phase 1 results for PRX004, an anti-amyloid immunotherapy targeting ATTR amyloidosis. All 7 evaluable patients exhibited a +1.29 point change in Neuropathy Impairment Score (NIS) after 9 months, significantly better than the expected +9.2 points from untreated patients. Three patients reported improvement in neuropathy, with a mean change of –3.33 points. Additionally, cardiac function improved in all evaluable patients. PRX004 demonstrated a favorable safety profile, with no serious adverse events reported.