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Mar 31, 2022
Prothena Q1 2022 Earnings Report
Reported financial results for the first quarter 2022.
Key Takeaways
Prothena reported a net loss of $36.3 million, compared to a net loss of $36.7 million for the first quarter of 2021. Total revenue was $1.2 million, primarily from collaboration revenue from Bristol Myers Squibb. The company's cash and restricted cash position was $544.3 million at the end of the quarter.
Net cash used in operating and investing activities was $37.4 million in the first quarter; quarter-end cash and restricted cash position was $544.3 million
Advanced PRX012, a potential best-in-class, subcutaneous treatment for Alzheimer’s disease, into a Phase 1 clinical study and received FDA Fast Track designation
Multiple presentations at AD/PD 2022 highlighting depth of neurodegenerative portfolio targeting Alzheimer’s and Parkinson’s diseases
The Company continues to expect the full year 2022 net cash used in operating and investing activities to be $120 to $132 million, which includes an expected $40 million clinical milestone payment from Novo Nordisk and expects to end the year with approximately $454 million in cash, cash equivalents and restricted cash (midpoint).
Revenue by Segment
Forward Guidance
The Company continues to expect the full year 2022 net cash used in operating and investing activities to be $120 to $132 million, which includes an expected $40 million clinical milestone payment from Novo Nordisk and expects to end the year with approximately $454 million in cash, cash equivalents and restricted cash (midpoint).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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