Prothena (NASDAQ: PRTA) swings to H1 2026 profit on $50M milestone
Rhea-AI Filing Summary
Prothena Corporation plc reported second quarter 2026 results with a net loss of $18.6 million, and net income of $14.1 million for the first six months of 2026, compared with a $185.9 million loss a year earlier. Total revenue was $1.0 million for the quarter and $52.1 million year-to-date, mainly from a $50.0 million milestone payment from Novo Nordisk and collaboration revenue from Bristol Myers Squibb.
Research and development and general and administrative expenses decreased substantially versus 2025, reducing operating losses. Cash, cash equivalents and restricted cash were $289.1 million as of June 30, 2026, with no debt. Prothena repurchased 2,243,888 ordinary shares for $22.3 million in the first half of 2026 under its up to $100.0 million share repurchase program. For 2026, the company expects net cash used in operating and investing activities of $18–$23 million and year-end cash, cash equivalents and restricted cash of about $259 million, excluding any potential $55 million milestone from Bristol Myers Squibb.
Positive
- Return to profitability year-to-date: net income of $14.1 million for the first six months of 2026 versus a $185.9 million loss in the prior-year period, helped by milestone revenue and lower operating expenses.
- Strong liquidity with modest projected cash burn: $289.1 million in cash, cash equivalents and restricted cash and no debt, with 2026 net cash used in operating and investing activities guided to only $18–$23 million.
Negative
- None.
Insights
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8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net loss Q2 2026: $18.6 million
Net income six months 2026: $14.1 million
Total revenue Q2 2026: $1.0 million
+5 more
8 metrics
Net loss Q2 2026
$18.6 million
Net loss for the second quarter of 2026
Net income six months 2026
$14.1 million
Net income for the first six months of 2026
Total revenue Q2 2026
$1.0 million
Total revenue for the second quarter of 2026
Total revenue six months 2026
$52.1 million
Year-to-date revenue, mainly from a $50.0 million Novo Nordisk milestone
R&D expense Q2 2026
$8.8 million
Research and development expenses for the second quarter of 2026
Cash and restricted cash
$289.1 million
Cash, cash equivalents and restricted cash as of June 30, 2026; no debt
2026 net cash use guidance
$18–$23 million
Expected 2026 net cash used in operating and investing activities
Shares repurchased H1 2026
2,243,888 shares for $22.3 million
Ordinary shares repurchased under the up to $100.0 million program
Key Terms
Fast Track designation, share repurchase program, non-cash share-based compensation, deferred revenue, +2 more
6 terms
Fast Track designation regulatory
"Coramitug granted Fast Track designation from the U.S. FDA for the treatment"
Fast track designation is a status the U.S. Food and Drug Administration grants to drugs intended to treat serious conditions and address an unmet medical need. It gives the developer more frequent communication with the FDA and can allow parts of the application to be reviewed on a rolling basis, and it may pave the way to priority review or accelerated approval. It can shorten development timelines, though it does not guarantee approval.
deferred revenue financial
"Deferred revenue, current | 620 | | | 2,664"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
Phase 3 clinical trial medical
"Novo Nordisk is conducting the Phase 3 CLEOPATTRA clinical trial in"
A phase 3 clinical trial is a large-scale study that tests a new medical treatment or drug to determine if it is safe and effective for widespread use. It often involves hundreds or thousands of participants and compares the new treatment to existing options or a placebo. For investors, the results of this phase are crucial, as successful outcomes can lead to regulatory approval and commercial success, while failures may halt development.
restricted cash financial
"quarter-end cash and restricted cash position was $289.1 million"
Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.
Earnings Snapshot
Net income (loss) Q2 2026: $(18.6) million; Q2 2025 $(125.8) million · Guidance included
Quarter and six months ended June 30, 2026
Net income (loss) Q2 2026
$(18.6) million; Q2 2025 $(125.8) million
Smaller net loss than the prior-year quarter.
Net income (loss) six months 2026
$14.1 million; six months 2025 $(186.0) million
Shift from a substantial loss to net income year-to-date.
Total revenue six months 2026
$52.1 million; six months 2025 $7.2 million
Increase mainly driven by a $50.0 million Novo Nordisk milestone.
Guidance
Company expects 2026 net cash used in operating and investing activities of $18–$23 million and year-end cash, cash equivalents and restricted cash of about $259 million, excluding any potential $55 million milestone from Bristol Myers Squibb.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Prothena (PRTA) perform financially in Q2 2026?
Prothena reported a net loss of $18.6 million in Q2 2026, but achieved net income of $14.1 million for the first six months of 2026, reflecting milestone revenue and significantly lower research and development and general and administrative expenses versus 2025.
What were Prothena (PRTA)’s revenues for Q2 and the first half of 2026?
Total revenue was $1.0 million in Q2 2026 and $52.1 million for the first six months of 2026. Year-to-date revenue was driven primarily by a $50.0 million milestone payment from Novo Nordisk and collaboration revenue from Bristol Myers Squibb.
What is Prothena (PRTA)’s cash position and debt level as of June 30, 2026?
As of June 30, 2026, Prothena held $289.1 million in cash, cash equivalents and restricted cash and reported no debt. This cash base supports ongoing clinical programs and aligns with guidance for modest net cash use in 2026.
What 2026 cash flow guidance did Prothena (PRTA) provide?
Prothena expects net cash used in operating and investing activities of $18–$23 million for full-year 2026 and now projects year-end cash, cash equivalents and restricted cash of about $259 million (midpoint), excluding any potential $55 million milestone from Bristol Myers Squibb.
What are the key partnered programs highlighted by Prothena (PRTA)?
Key partnered programs include prasinezumab with Roche for Parkinson’s disease, coramitug with Novo Nordisk for ATTR-CM, and moponetug and PRX019 with Bristol Myers Squibb. Prothena states these partnered programs could generate up to approximately $3 billion in future milestones, plus royalties.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________________________________________________
FORM 8-K
_______________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2026
_______________________________________________________
(Exact name of registrant as specified in its charter)
_______________________________________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||||||||
| (Address of principal executive offices, including Zip Code) | ||||||||||||||||||||
Registrant’s telephone number, including area code: 011-353 -1 -236-2500
___________________________________________________
(Former Name or Former Address, if Changed Since Last Report.)
___________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02. | Results of Operations and Financial Condition. | ||||
The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically incorporate by reference the information furnished pursuant to Item 2.02 (including Exhibit 99.1) of this Current Report.
On August 6, 2026, Prothena Corporation plc issued a press release announcing its financial results for the second quarter ended June 30, 2026. A copy of that press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits | ||||
(d) Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | Press Release dated August 6, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | August 6, 2026 | PROTHENA CORPORATION PLC | ||||||||||||
| By: | /s/ Tran B. Nguyen | |||||||||||||
| Name: | Tran B. Nguyen | |||||||||||||
| Title: | Chief Financial Officer | |||||||||||||
Exhibit 99.1
PRESS RELEASE
Prothena Reports Second Quarter 2026 Financial Results and Business Highlights
•Net cash used in operating and investing activities was $25.7 million in the second quarter, and net cash provided by operating and investing activities was $3.2 million for the first six months of 2026; quarter-end cash and restricted cash position was $289.1 million
•Guidance updated to include shares repurchased through July 30, 2026 and now expects to end the year with approximately $259 million (midpoint) in cash, cash equivalents and restricted cash
•Results from partner Roche evaluating prasinezumab in patients with early Parkinson’s disease from the Phase 2b PADOVA clinical trial published in The Lancet
•Multiple research collaborations with industry partners ongoing to explore the potential of our CYTOPE® technology over the next 12 to 24 months
DUBLIN, Ireland, August 6, 2026 -- Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, today reported financial results for the second quarter and first six months of 2026 and provided business highlights.
“During the quarter, we were excited to see Roche publish results in The Lancet from the Phase 2b PADOVA trial evaluating prasinezumab in patients with early Parkinson’s disease, further supporting prasinezumab’s potential as a disease-modifying therapy. Roche is currently evaluating prasinezumab in the Phase 3 PARAISO trial, with primary completion expected in 2029,” said Gene Kinney, Ph.D., President and Chief Executive Officer, Prothena. “In addition, Novo Nordisk is conducting the Phase 3 CLEOPATTRA clinical trial evaluating coramitug in patients with ATTR amyloidosis with cardiomyopathy, with primary completion expected in 2029. We also expect our partner Bristol Myers Squibb to complete the ongoing Phase 2 TargetTau-1 clinical trial evaluating moponetug (BMS-986446) in patients with early Alzheimer’s disease in the first half of 2027. In total our partnered programs could generate up to approximately $3 billion in aggregate future milestone payments, plus potential royalties. We also remain actively engaged with industry partners in multiple research collaborations evaluating the potential of our CYTOPE® technology over the next 12 to 24 months. We believe these programs reinforce the potential of our proprietary CYTOPE® technology and our ability to generate additional research collaborations and licensing partnerships.”
Business Highlights and Upcoming Milestones
Active Clinical Development Portfolio
Prasinezumab, a potential first-in-class antibody for the treatment of Parkinson’s disease that is designed to target a key epitope within the C-terminus of alpha-synuclein and is the focus of a worldwide collaboration with Roche.
•PADOVA Phase 2b clinical trial results were published in The Lancet, which highlighted exploratory signals of the clinical and biological activity of prasinezumab in early-stage Parkinson’s disease. These findings were consistent across clinical and biomarker endpoints, supporting the potential of prasinezumab to modify the course of Parkinson’s disease
•Roche is conducting the Phase 3 PARAISO clinical trial in approximately 900 participants with early-stage Parkinson's disease; primary completion expected in 2029 (NCT07174310)
•Roche has stated that prasinezumab has peak sales potential greater than $3.5 billion (unadjusted) and could be the first disease-modifying treatment for Parkinson’s disease—a condition that affects 10 million people worldwide
Coramitug (formerly PRX004), a potential best-in-class amyloid depleter antibody for the treatment of ATTR amyloidosis with cardiomyopathy (ATTR-CM) designed to deplete the pathogenic, non-native forms of the transthyretin (TTR) protein, is being developed by Novo Nordisk as part of its up to $1.2 billion acquisition of Prothena’s ATTR amyloidosis business and pipeline.
•Novo Nordisk is conducting the Phase 3 CLEOPATTRA clinical trial in approximately 1280 participants with ATTR-CM; primary completion expected in 2029 (NCT07207811)
•Open-label study ongoing to evaluate the biodistribution of 89Zr-coramitug and investigate the effects of coramitug on depleting TTR amyloid deposits in myocardial tissues using PET/CT imaging in participants with ATTR-CM; primary completion expected in 2027 (NCT07448623)
•Coramitug granted Fast Track designation from the U.S. FDA for the treatment of ATTR-CM
Moponetug (formerly BMS-986446/PRX005), a potential best-in-class antibody for the treatment of Alzheimer’s disease that specifically targets a key epitope within the microtubule binding region (MTBR) of tau, a protein implicated in the causal pathophysiology of Alzheimer’s disease.
•Bristol Myers Squibb is conducting the Phase 2 TargetTau-1 clinical trial in approximately 310 patients with early Alzheimer’s disease; primary completion expected in 1H 2027 (NCT06268886)
•Bristol Myers Squibb conducted a Phase 1 open-label single-dose clinical trial to assess a subcutaneous administration (NCT06955741)
•Moponetug granted Fast Track designation by U.S. FDA as a treatment for Alzheimer’s disease
PRX019, a potential treatment of neurodegenerative diseases in development in collaboration with Bristol Myers Squibb.
•Prothena has completed a Phase 1 study to evaluate the safety, tolerability, immunogenicity, and pharmacokinetics of single ascending and multiple doses in healthy adults
•Prothena could potentially earn a $55 million clinical milestone payment if Bristol Myers Squibb decides to advance the program; BMS decision expected by YE 2026
Active Preclinical Development Portfolio
TDP-43 CYTOPE®, a wholly-owned proprietary preclinical program for precision intracellular targeting of TDP-43 pathology, a defining pathogenic feature of ALS and other TDP-43 proteinopathies. TDP-43 CYTOPE preclinical data demonstrates the potential of Prothena’s CYTOPE technology to target intracellular disease pathways.
•Prothena presented a poster at Neuroscience 2025 (Society for Neuroscience), as well as encore presentations at the International Symposium of ALS/MND 2025 and the 2026 European Network to Cure ALS (ENCALS) demonstrating the potential of TDP-43 CYTOPE in multiple preclinical models
PRX012-TfR, a wholly-owned preclinical program combining PRX012, our single-injection, once-monthly antibody delivered subcutaneously with proprietary transferrin receptor technology to potentially improve its product profile.
•Preclinical studies ongoing to support potential efficacy of PRX012-TfR
Second Quarter of 2026 Financial Results
For the second quarter Prothena reported net loss of $18.6 million and net income of $14.1 million for the first six months of 2026, respectively, as compared to a net loss of $125.8 million and $186.0 million for the second quarter and first six months of 2025, respectively. Basic and dilutive net loss per share was $0.36 for the second quarter and basic and diluted net income per share was $0.27 and $0.26, respectively, for the first six months of 2026, as compared to a basic and dilutive net loss per share of $2.34 and $3.45, respectively, for the second quarter and first six months of 2025.
Prothena reported total revenue of $1.0 million and $52.1 million, respectively, for the second quarter and first six months of 2026, respectively, as compared to total revenue of $4.4 million and $7.2 million for the second quarter and first six months of 2025, respectively. Total revenue for the first six months of 2026 was primarily from $50.0 million in milestone payment from Novo Nordisk related to ongoing Phase 3 clinical trial for coramitug and collaboration revenue from Bristol Myers Squibb related to the partial performance of our PRX019 Phase 1 clinical trial obligation. Total revenue for the second quarter and first six months of 2025, was primarily from collaboration revenue from Bristol Myers Squibb related to the partial performance of our PRX019 Phase 1 clinical trial obligation.
Research and development (R&D) expenses totaled $8.8 million and $21.4 million for the second quarter and first six months of 2026, respectively, as compared to $40.5 million and $91.3 million for the second quarter and first six months of 2025, respectively. The decrease in R&D expenses for the second quarter and first six months of 2026 compared to the same periods in the prior year was primarily due to lower clinical trial expenses, lower personnel expenses, lower consulting expenses and lower manufacturing expenses. R&D expenses included non-cash share-based compensation expense of $1.7 million and $3.7 million for the second quarter and first six months of 2026, respectively, as compared to $4.7 million and $9.5 million for the second quarter and first six months of 2025, respectively.
General and administrative (G&A) expenses totaled $10.9 million and $23.6 million for the second quarter and first six months of 2026, respectively as compared to $15.9 million and $33.5 million for the second quarter and first six months of 2025, respectively. The decrease in G&A expenses for the second quarter and first six months of 2026 compared to the same periods in the prior year was primarily due to lower consulting expenses and lower personnel expenses. G&A expenses included non-cash share-based compensation expense of $4.5 million and $9.4 million for the second quarter and first six months of 2026, respectively, as compared to $5.7 million and $11.8 million for the second quarter and first six months of 2025, respectively.
Prothena recorded restructuring expenses of $2.4 million for the second quarter and an aggregate restructuring credit of $1.8 million for the first six months of 2026, respectively, as compared to $32.6 million for the second quarter and first six months of 2025, respectively. Restructuring expenses included non-cash share-based compensation expense of $1.7 million for the second quarter and first six months of 2026, as compared to $2.1 million for the second quarter and first six months of 2025.
Total non-cash share-based compensation expense was $7.9 million and $14.8 million for the second quarter and first six months of 2026, respectively, as compared to $12.4 million and $23.4 million for the second quarter and first six months of 2025, respectively.
As of June 30, 2026, Prothena had $289.1 million in cash, cash equivalents and restricted cash, and no debt.
As of July 30, 2026, Prothena had approximately 51.3 million ordinary shares outstanding.
2026 Financial Guidance
The Company continues to expect the full year 2026 net cash used in operating and investing activities to be $18 to $23 million. The Company is updating its projected year end cash balance to approximately $259 million (midpoint) in cash, cash equivalents and restricted cash, representing a decrease of $14 million from prior guidance of $273 million (midpoint). This decrease in cash position is primarily driven by cash utilized as part of the share repurchase program of approximately $12 million between May 1, 2026 and July 30, 2026. The estimated full year 2026 net cash used in operating and investing activities is primarily driven by an estimated net loss of $25 to $30 million, which includes an estimated $26 million of non-cash share-based compensation expense. This financial guidance does not include the potential to earn a $55 million clinical milestone payment in 2026 related to the advancement of PRX019 for neurodegenerative diseases by Bristol Myers Squibb or additional cash utilized as part of a share repurchase program.
2Q 2026 Share Repurchase Program
Prothena repurchased 1,454,898 ordinary shares in the second quarter of 2026. Together with the 788,990 ordinary shares repurchased in the first quarter of 2026, Prothena repurchased an aggregate of 2,243,888 ordinary shares during the first half of 2026 with $22.3 million, excluding commissions and expenses, under its up to $100.0 million share repurchase program, which expires on December 31, 2026.
About Prothena
Prothena Corporation plc is a late-stage clinical biotechnology company with expertise in protein dysregulation with the potential to change the course of devastating neurodegenerative and rare peripheral amyloid diseases. Fueled by its deep scientific expertise built over decades of research, Prothena is advancing a pipeline of therapeutic candidates for a number of indications and novel targets for which its ability to integrate scientific insights around neurological dysfunction and the biology of misfolded proteins can be leveraged. Prothena’s pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including Parkinson’s disease, ATTR amyloidosis with cardiomyopathy, Alzheimer’s disease, Amyotrophic lateral sclerosis (ALS) and a number of other neurodegenerative diseases. Prothena is developing and applying CYTOPE®, a novel technology that incorporates a cell-internalizing domain to drive efficient cytosolic delivery with highly specific marcomolecular effectors. For more information, please visit the Company’s website at www.prothena.com and follow the Company on X (formerly Twitter) @ProthenaCorp.
Forward-Looking Statements
This press release contains forward-looking statements. These statements relate to, among other things, the sufficiency of our cash position to fund advancement of our pipeline and completion of our ongoing clinical trials; the continued advancement of our preclinical and clinical pipeline, including the potential and advancement of our CYTOPE® technology and expected milestones in 2026, 2027, and beyond; the treatment potential, designs, proposed mechanisms of action, and potential administration of prasinezumab, coramitug, moponetug, PRX019, TDP-43 CYTOPE, and PRX012-TfR; plans for ongoing and future clinical trials of prasinezumab, coramitug, moponetug, and PRX019; the expected timing of reporting data from preclinical studies and clinical trials; projections regarding peak sales and patient population for prasinezumab; timing of and amounts we may receive under our collaborations with Novo Nordisk and Bristol Myers Squibb; our anticipated net cash burn from operating and investing activities for 2026 and expected cash balance at the end of 2026; our estimated net loss and non-cash share-based compensation expense for 2026; and the potential to return capital to shareholders via a share repurchase program or other permissible means. These statements are based on estimates, projections and assumptions that may prove not to be accurate, and actual results could differ materially from those
anticipated due to known and unknown risks, uncertainties and other factors, including but not limited to those described in the “Risk Factors” sections of our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on August 6, 2026, and discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the SEC. We undertake no obligation to update publicly any forward-looking statements contained in this press release as a result of new information, future events, or changes in our expectations.
PROTHENA CORPORATION PLC
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited - amounts in thousands except per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| Collaboration revenue | $ | 1,010 | $ | 4,420 | $ | 2,044 | $ | 7,198 | ||||||||||||||||||
| Revenue from license and intellectual property | — | — | 50,050 | 50 | ||||||||||||||||||||||
| Total revenue | 1,010 | 4,420 | 52,094 | 7,248 | ||||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||
| Research and development | 8,798 | 40,517 | 21,425 | 91,328 | ||||||||||||||||||||||
| General and administrative | 10,899 | 15,910 | 23,565 | 33,508 | ||||||||||||||||||||||
| Restructuring costs | 2,414 | 32,609 | (1,830) | 32,609 | ||||||||||||||||||||||
| Total operating expenses | 22,111 | 89,036 | 43,160 | 157,445 | ||||||||||||||||||||||
Income (loss) from operations | (21,101) | (84,616) | 8,934 | (150,197) | ||||||||||||||||||||||
| Other income, net | 2,520 | 3,651 | 5,207 | 7,859 | ||||||||||||||||||||||
Income (loss) before income taxes | (18,581) | (80,965) | 14,141 | (142,338) | ||||||||||||||||||||||
| Provision for income taxes | 2 | 44,802 | 3 | 43,624 | ||||||||||||||||||||||
Net income (loss) | $ | (18,583) | $ | (125,767) | $ | 14,138 | $ | (185,962) | ||||||||||||||||||
| Basic net income (loss) per ordinary share | $ | (0.36) | $ | (2.34) | $ | 0.27 | $ | (3.45) | ||||||||||||||||||
| Diluted net income (loss) per ordinary share | $ | (0.36) | $ | (2.34) | $ | 0.26 | $ | (3.45) | ||||||||||||||||||
| Shares used to compute basic net income (loss) per share | 52,145 | 53,827 | 52,922 | 53,827 | ||||||||||||||||||||||
| Shares used to compute diluted net income (loss) per share | 52,145 | 53,827 | 53,425 | 53,827 | ||||||||||||||||||||||
PROTHENA CORPORATION PLC
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited - amounts in thousands)
| June 30, | December 31, | ||||||||||
| 2026 | 2025 | ||||||||||
| Assets | |||||||||||
| Cash and cash equivalents | $ | 288,193 | $ | 307,531 | |||||||
| Prepaid expenses and other current assets | 3,820 | 7,662 | |||||||||
| Total current assets | 292,013 | 315,193 | |||||||||
| Property and equipment, net | 2,486 | 2,144 | |||||||||
| Operating lease right-of-use assets | 6,738 | 8,125 | |||||||||
| Restricted cash, non-current | 860 | 860 | |||||||||
| Other non-current assets | 482 | 482 | |||||||||
| Total non-current assets | 10,566 | 11,611 | |||||||||
| Total assets | $ | 302,579 | $ | 326,804 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Accrued research and development | $ | 550 | $ | 4,329 | |||||||
Deferred revenue, current | 620 | 2,664 | |||||||||
Restructuring liability | 349 | 13,303 | |||||||||
| Lease liability, current | 2,961 | 2,886 | |||||||||
| Other current liabilities | 7,178 | 17,661 | |||||||||
| Total current liabilities | 11,658 | 40,843 | |||||||||
| Lease liability, non-current | 4,030 | 5,487 | |||||||||
Total non-current liabilities | 4,030 | 5,487 | |||||||||
| Total liabilities | 15,688 | 46,330 | |||||||||
| Total shareholders’ equity | 286,891 | 280,474 | |||||||||
| Total liabilities and shareholders’ equity | $ | 302,579 | $ | 326,804 | |||||||
Contacts:
Mark Johnson, CFA
Senior Vice President, Head of Investor Relations and Corporate Communications
650-837-8550
IR@prothena.com
Media@prothena.com