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Sep 30, 2021
Prothena Q3 2021 Earnings Report
Reported third quarter financial results and business highlights.
Key Takeaways
Prothena reported a net income of $109.2 million compared to a net loss of $30.6 million for the third quarter of 2020. Total revenue was $139.2 million, including collaboration revenue of $78.5 million from Bristol Meyer Squibb and intellectual property revenue of $60.7 million from the sale of the intellectual property and related rights to the Company’s ATTR amyloidosis business and pipeline to Novo Nordisk.
Net cash provided by operating and investing activities was $111.9 million.
Quarter-end cash and restricted cash position was $601.5 million.
Received $140 million from partner payments.
Announced two key executive appointments to support transition to a fully integrated biotechnology company
Revenue by Segment
Forward Guidance
The Company continues to expect the full year 2021 net cash provided by operating and investing activities to be $85 to $95 million. The Company is updating its projected year end cash balance to approximately $575 million in cash, cash equivalents and restricted cash (midpoint) (versus prior guidance of $491 million) to include net financing proceeds received in the third quarter of 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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