Prothena Stock Price, News & Analysis

Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology firm, announced the hiring of two employees, accompanied by a grant of options to purchase 50,000 ordinary shares. The exercise price is set at $27.89, aligning with the closing price on July 1, 2022. The options will vest over four years, with 25% vesting after one year and the remainder vesting monthly. This grant is part of the 2020 Employment Inducement Incentive Plan.

Prothena specializes in therapeutics for neurodegenerative diseases and amyloid disorders.

Prothena Corporation plc (NASDAQ:PRTA) announced that its senior management will participate in a fireside chat at the Jefferies Healthcare Conference on June 8, 2022, at 8:30 AM ET. The event will be accessible via a live webcast on the company's investor relations website, with a replay available for 90 days afterward. Prothena focuses on developing therapeutics for neurodegenerative and rare peripheral amyloid diseases, leveraging its expertise in protein dysregulation. The company is advancing a robust pipeline targeting conditions like AL amyloidosis and Alzheimer's disease.

Prothena Corporation reported a net loss of $36.3 million for Q1 2022, showing a slight improvement from $36.7 million the previous year. Total revenue climbed to $1.2 million, primarily driven by collaboration revenue from Bristol Myers Squibb. Operating cash usage was $37.4 million, with cash reserves standing at $544.3 million. Prothena's pipeline includes the Alzheimer's treatment PRX012, which has received FDA Fast Track designation and is currently in Phase 1 trials. The company expects to end 2022 with around $454 million in cash, despite projected net losses of up to $170 million.

Prothena Corporation plc (NASDAQ:PRTA) will announce its first quarter 2022 financial results on May 5, 2022, after U.S. market close. The company specializes in investigational therapeutics targeting protein dysregulation, focusing on neurodegenerative and rare peripheral amyloid diseases. Prothena has a diverse pipeline aimed at treating conditions such as AL amyloidosis, ATTR amyloidosis, Alzheimer's, and Parkinson's diseases. Notably, there will be no conference call accompanying the results release.

Prothena Corporation plc (NASDAQ: PRTA) announced FDA Fast Track designation for its investigational anti-amyloid beta therapy, PRX012, aimed at treating Alzheimer’s disease. This designation facilitates accelerated development for drugs addressing serious conditions. PRX012, currently in Phase 1 studies, shows promise with high binding strength and effective delivery methods. With approximately 50 million people affected globally by Alzheimer’s, this therapy addresses a significant unmet medical need.

Prothena Corporation plc (NASDAQ:PRTA) has launched a Phase 1 SAD study of PRX012, an innovative anti-amyloid beta antibody aimed at treating Alzheimer’s disease. Following FDA's IND clearance, the study will assess safety, tolerability, and pharmacokinetics in healthy individuals and AD patients. PRX012 promises advantages over first-generation therapies, including high binding potency and an easy subcutaneous dosing method. With over 50 million individuals afflicted by Alzheimer’s globally, Prothena aims to deliver a transformative treatment for this critical health issue.

Prothena Corporation plc (NASDAQ:PRTA) will participate in a fireside chat at the Stifel 2022 Virtual CNS Days on March 28, 2022, at 12:30 PM ET. This event will feature insights from senior management regarding the company's investigational therapeutics focused on neurodegenerative diseases and protein dysregulation. Investors can access the live webcast through the investor relations section of Prothena's website, with a replay available for 90 days post-event.

Prothena is advancing its pipeline targeting conditions such as Alzheimer's disease and amyloidosis.

Prothena Corporation (NASDAQ:PRTA) presented preclinical data on its dual Aβ/tau vaccine for Alzheimer’s and tandem C-terminal α-synuclein vaccine for Parkinson’s at the AD/PD 2022 Conference. The dual Aβ/tau vaccine demonstrated significant antibody generation, crucial for targeting amyloid plaques and tau tangles. The α-synuclein vaccine showed robust binding and inhibited the uptake of soluble α-synuclein. Prothena aims to file for an IND of the Alzheimer's vaccine in 2023, highlighting its commitment to developing innovative therapies for neurodegenerative diseases.

Prothena reported a Q4 2021 net loss of $33.2 million, having a full-year net income of $67.0 million. The firm generated $1.2 million in revenue for Q4 and $200.6 million for the full year, boosted by an $80 million payment from Bristol Myers Squibb and a $60 million milestone from Roche. Prothena's cash position stands at $580.4 million. The company has initiated several studies for Alzheimer's and Parkinson's treatments and expects a net cash use of $120 to $132 million in 2022. Financial guidance indicates a projected net loss of $154 to $170 million for the year.