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Jun 30, 2022
Prothena Q2 2022 Earnings Report
Reported financial results and business highlights for the second quarter and first six months of 2022.
Key Takeaways
Prothena reported a net loss of $41.2 million for the second quarter of 2022, compared to a net income of $27.6 million for the same period in 2021. Total revenue for the quarter was $1.3 million, primarily from collaboration revenue from BMS, as compared to $60.1 million for the second quarter of 2021. The company's cash and restricted cash position was $510.1 million as of June 30, 2022.
Net cash used in operating and investing activities was $35.5 million in the second quarter of 2022.
Quarter-end cash and restricted cash position was $510.1 million.
FDA Fast Track designation granted in April for PRX012.
Topline data expected by year-end from Phase 1 clinical study of PRX005.
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).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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