Prothena Stock Price, News & Analysis

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.

Prothena Corporation (NASDAQ:PRTA) announced the grant of options to purchase 90,000 ordinary shares to two new employees. The options have an exercise price of $11.00, reflecting the closing price as of December 1, 2020. These options will vest over four years, with 25% vesting after one year and the remaining shares vesting monthly thereafter. This incentive aims to encourage new talent to join Prothena, a company specializing in therapeutics for neurodegenerative diseases and amyloid-related conditions.

Prothena Corporation reported a net loss of $30.6 million for Q3 2020, compared to $19.4 million in Q3 2019. The company has $317.2 million in cash as of September 30, 2020, ensuring funding for ongoing R&D initiatives. Key highlights include the presentation of positive Phase 2 results for prasinezumab in Parkinson's disease, showing a 35% reduction in motor decline, and its advancement into a late-stage study. The company plans to earn a $60 million milestone payment upon dosing the first patient in this study.

Prothena Corporation presents preclinical data on its Alzheimer’s disease portfolio at CTAD 2020, showcasing next-generation anti-Aβ antibodies and a multi-immunogen Aβ-tau vaccine. The anti-Aβ antibodies, designed for subcutaneous administration, exhibit 11-fold greater binding strength to amyloid compared to aducanumab, enhancing patient access. The dual-target vaccine aims to tackle both Aβ and tau pathologies, generating balanced immune responses. Prothena's innovative approaches address significant challenges in patient treatment accessibility and represent a potential step forward in Alzheimer’s therapeutics.

Prothena Corporation plc (NASDAQ:PRTA) will disclose its third quarter and first nine months of 2020 financial results on November 4, after U.S. market close. The company specializes in protein dysregulation and has an extensive pipeline targeting neurodegenerative and rare amyloid diseases. Notably, it collaborates with Roche on prasinezumab for Parkinson’s and with Bristol-Myers Squibb for Alzheimer’s and related conditions. Prothena will not hold a conference call for this earnings release.