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Sep 30, 2024
Prothena Q3 2024 Earnings Report
Reported financial results and business highlights for the third quarter of 2024.
Key Takeaways
Prothena reported a net loss of $59.0 million for the third quarter of 2024, compared to a net income of $21.9 million for the same period in 2023. Total revenue for the third quarter of 2024 was $1.0 million, primarily from collaboration revenue from Bristol Myers Squibb.
Net loss for the third quarter of 2024 was $59.0 million, compared to a net income of $21.9 million for the third quarter of 2023.
Total revenue for the third quarter of 2024 was $1.0 million, primarily from collaboration revenue from Bristol Myers Squibb.
Cash and restricted cash position at the end of the quarter was $520.1 million.
Prothena expects multiple clinical readouts starting in mid-2025 and continuing throughout the year from the ongoing Phase 1 ASCENT clinical trials evaluating PRX012 for Alzheimer’s disease.
Prothena
Prothena
Prothena Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
The Company continues to expect full year 2024 net cash used in operating and investing actives to be $148 to $160 million and expects to end the year with approximately $468 million (midpoint) in cash, cash equivalents and restricted cash. The estimated full year 2024 net cash used from operating and investing activities is primarily driven by an estimated net loss of $120 to $135 million, which includes an estimated $48 million of non-cash share-based compensation expense.