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Mar 31, 2024
Prothena Q1 2024 Earnings Report
Reported financial results for the first quarter of 2024 and provided business highlights.
Key Takeaways
Prothena reported a net loss of $72.2 million for the first quarter of 2024, with total revenue of $0.1 million. The company's cash and restricted cash position at the end of the quarter was $548.7 million. The company continues to advance its pipeline of investigational therapeutics.
Net cash used in operating and investing activities was $73.2 million in the first quarter of 2024; quarter-end cash and restricted cash position was $548.7 million.
Advanced potential best-in-class Alzheimer’s disease portfolio: initial data supportive of ongoing Phase 1 clinical trial for PRX012; received FDA clearance for IND application and Fast Track designation for PRX123; Phase 2 clinical trial initiated for BMS-986446 by partner Bristol Myers Squibb.
Strengthened leadership position in the amyloidosis community with ongoing enrollment of the confirmatory Phase 3 AFFIRM-AL clinical trial of birtamimab; published birtamimab mechanism of action and pharmacological characteristics in Leukemia & Lymphoma in April 2024.
Daniel G. Welch appointed to Prothena Board of Directors as an independent director and Chair Designate
Revenue by Segment
Forward Guidance
The Company continues to expect the full year 2024 net cash used in operating and investing activities to be $208 to $225 million and expects to end the year with approximately $405 million in cash, cash equivalents and restricted cash (midpoint).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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