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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
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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