Welcome to our dedicated page for Prothena news (Ticker: PRTA), a resource for investors and traders seeking the latest updates and insights on Prothena stock.
Prothena Corporation plc (NASDAQ: PRTA) is described in its own press releases as a late-stage clinical biotechnology company focused on protein dysregulation in neurodegenerative and rare peripheral amyloid diseases. The PRTA news feed on Stock Titan aggregates these company communications, giving investors and observers a single place to follow Prothena’s disclosures and milestones.
In its recent news, Prothena has highlighted progress across a pipeline that includes both wholly-owned and partnered programs. Updates have covered clinical development for Parkinson’s disease through the prasinezumab collaboration with Roche, ATTR amyloidosis with cardiomyopathy via coramitug (formerly PRX004) now being developed by Novo Nordisk, and Alzheimer’s disease programs such as BMS-986446 (formerly PRX005) with Bristol Myers Squibb, PRX012, and the dual Aβ/tau vaccine PRX123. The company has also issued releases on its CYTOPE technology platform, workforce restructuring, and financial results.
Readers of the PRTA news page can review press releases on topics such as Phase 2 and Phase 3 trial plans, Fast Track designations, preclinical data from the TDP-43 CYTOPE program, and corporate actions including an Extraordinary General Meeting to approve a capital reduction to create distributable reserves. Governance and leadership updates, such as changes to the Board of Directors, are also disclosed through these announcements.
By following this curated stream of Prothena’s own news, users can see how the company presents the status of its investigational therapeutics, collaborations with partners like Roche, Novo Nordisk and Bristol Myers Squibb, and its capital and cost structure decisions. The PRTA news page is intended as a convenient starting point for reviewing Prothena’s publicly released information over time.
Prothena Corporation (NASDAQ:PRTA) reported a net income of $6.3 million in Q4 2022, contrasting with a net loss of $116.9 million for the full year. Total revenue fell to $49.9 million in Q4 and $53.9 million for the year, significantly down from $1.2 million and $200.6 million in 2021, respectively. The operating cash use was $5.1 million in Q4 and $109.3 million for the year, with a cash position of $712.6 million. Noteworthy achievements include FDA clearance for PRX012’s IND application and a $40 million milestone from Novo Nordisk. The company anticipates utilizing $213 to $229 million in 2023, predicting a net cash of roughly $512 million by year end.
Prothena Corporation plc (NASDAQ:PRTA) will announce its fourth quarter and full year 2022 financial results on February 23, 2023, after U.S. market close. The company will host a live audio conference call at 4:30 PM ET to discuss the results, which will be available on its website. Prothena focuses on protein dysregulation and has a pipeline targeted at treating neurodegenerative diseases and rare peripheral amyloid diseases. Its investigational therapies aim to address conditions like AL and ATTR amyloidosis, Alzheimer's, and Parkinson's disease.
Prothena Corporation plc (NASDAQ:PRTA) announced the grant of an option to purchase 85,000 ordinary shares to a newly hired employee. This option has an exercise price of $53.67, reflecting the closing trading price on February 1, 2023. The shares will vest over four years, with 25% vesting after one year and the remainder vesting monthly over 36 months. This grant is part of the Company’s 2020 Employment Inducement Incentive Plan, approved for attracting new talent. Prothena specializes in developing therapeutics targeting neurodegenerative and rare diseases, leveraging its expertise in protein dysregulation.
Prothena Corporation (NASDAQ:PRTA) announced positive results from a Phase 1 single ascending dose (SAD) study for PRX005, an investigational antibody targeting tau pathology in Alzheimer’s disease. The study demonstrated dose-proportional concentrations of PRX005 in plasma and confirmed its safety and tolerability in healthy volunteers. Notably, PRX005 effectively penetrated the central nervous system, indicating potential effectiveness against Alzheimer’s. The ongoing Phase 1 multiple ascending dose (MAD) trial in Alzheimer’s patients is expected to report topline results by year-end 2023.
Prothena Corporation plc (NASDAQ:PRTA) announced a public offering of 3,250,000 ordinary shares at $56.50 each, aiming to raise approximately $172.4 million after expenses. The offering, closing on December 19, 2022, includes a 30-day option for underwriters to purchase an additional 487,500 shares. This offering is made under an automatic shelf registration statement filed with the SEC on March 23, 2021. Prothena focuses on developing therapeutics targeting neurodegenerative diseases.
Prothena Corporation plc (NASDAQ:PRTA) has announced an underwritten public offering of 3,000,000 ordinary shares, with a potential 15% additional share purchase option for underwriters. This offering is subject to market conditions and follows an automatic shelf registration statement filed with the SEC. Jefferies, Evercore ISI, and Cantor are acting as joint book-running managers. The proceeds are intended to advance its investigational therapeutics pipeline targeting neurodegenerative diseases. There is no guarantee regarding completion or terms of the offering.
Prothena Corporation (PRTA) announced promising results from its Phase 3 VITAL study on birtamimab, a treatment for Mayo Stage IV AL amyloidosis. A post hoc analysis indicated a significant survival benefit of 74% for birtamimab-treated patients at 9 months, compared to 49% for placebo (HR 0.413, p=0.021). The findings were presented at the American Society of Hematology Annual Meeting. Following these results, Prothena is advancing birtamimab into the confirmatory Phase 3 AFFIRM-AL study, with topline data expected in 2024.
Prothena Corporation plc (NASDAQ:PRTA) reported its financial results for Q3 and the first nine months of 2022. The company faced a net loss of $45.8 million for Q3 and $123.3 million year-to-date, a stark contrast to net income of $109.2 million in Q3 2021. Total revenue plummeted to $1.5 million in Q3 2022, down from $139.2 million in Q3 2021. R&D expenses rose significantly to $39.9 million for Q3 2022 due to increased manufacturing and clinical trial costs. Prothena's cash position remains strong at $497.0 million, and revised guidance predicts a net cash burn of $108 to $120 million for 2022.
Prothena Corporation plc (NASDAQ:PRTA) announced it will present survival data from its Phase 3 VITAL study at the American Society of Hematology Conference from December 10-13, 2022 in New Orleans, LA. The VITAL study showed consistent observed survival benefits in patients with Mayo Stage IV AL amyloidosis treated with birtamimab. The company is advancing birtamimab into the Phase 3 AFFIRM-AL study under Special Protocol Assessment (SPA) with the FDA, aiming for completion in 2024. Birtamimab is the only investigational drug demonstrating significant survival benefit in this patient demographic.
Prothena Corporation plc (NASDAQ:PRTA) announced it will release its third quarter and year-to-date financial results on November 3, 2022, after U.S. market close. The company specializes in protein dysregulation and is advancing a pipeline targeting neurodegenerative diseases such as Alzheimer’s and Parkinson’s. Notably, Prothena will not hold a conference call following the results release, consistent with prior practices. Investors and stakeholders anticipate key financial metrics and insights into the company’s investigational therapeutics during this upcoming report.