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Mar 31, 2023
Prothena Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023 and provided business highlights.
Key Takeaways
Prothena reported a net loss of $46.9 million for the first quarter of 2023, compared to a net loss of $36.3 million for the first quarter of 2022. Total revenue was $2.2 million, primarily from collaboration revenue from Bristol Myers Squibb. As of March 31, 2023, Prothena had $688.4 million in cash, cash equivalents and restricted cash.
Net cash used in operating and investing activities was $47.5 million in the first quarter of 2023; quarter-end cash and restricted cash position was $688.4 million
PRX012 demonstrated higher affinity binding to amyloid beta soluble protofibrils and greater clearance of pyroglutamate-modified amyloid beta plaques compared to other approved and investigational molecules
Topline data reported from Phase 1 SAD study of PRX005, a novel anti-MTBR-tau antibody, meeting the primary study objective
Roche completed enrollment for the Phase 2b PADOVA trial in patients with early PD; topline data expected in 2024
Prothena
Prothena
Prothena Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.comLicense and IP Revenue
CapyFin.com Forward Guidance
The Company continues to expect the full year 2023 net cash used in operating and investing activities to be $213 to $229 million and expects to end the year with approximately $512 million in cash, cash equivalents and restricted cash (midpoint).
Revenue & Expenses
Visualization of income flow from segment revenue to net income