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Sep 30, 2023
Prothena Q3 2023 Earnings Report
Reported financial results for the third quarter and first nine months of 2023 and provided business highlights.
Key Takeaways
Prothena reported a net income of $21.9 million for the third quarter of 2023, a significant increase compared to a net loss of $45.8 million for the same period in 2022. The company's total revenue reached $84.9 million, primarily driven by collaboration revenue from Bristol Myers Squibb, including a $55 million payment for the exclusive worldwide license to PRX005. As of September 30, 2023, Prothena's cash and restricted cash position was $673.1 million.
Net income was $21.9 million, compared to a net loss of $45.8 million in Q3 2022.
Revenue reached $84.9 million, primarily from collaboration revenue from Bristol Myers Squibb.
Received $55 million payment from Bristol Myers Squibb for exclusive worldwide license to PRX005.
Cash and restricted cash position was $673.1 million at the end of the quarter.
Revenue by Segment
Forward Guidance
The Company continues to expect the full year 2023 net cash used in operating and investing activities to be $148 to $161 million and expects to end the year with approximately $600 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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