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Dec 31, 2022
Prothena Q4 2022 Earnings Report
Prothena reported a net income for Q4 2022, driven by milestone payments and collaboration revenue, while advancing its clinical pipeline.
Key Takeaways
Prothena reported a net income of $6.3 million for the fourth quarter of 2022, compared to a net loss of $33.2 million for the same period in 2021. The increase in revenue was primarily due to a $40.0 million milestone payment from Novo Nordisk and $9.9 million in BMS collaboration revenue.
Net cash used in operating and investing activities was $5.1 million in Q4 2022, with a quarter-end cash and restricted cash position of $712.6 million.
Received $40 million milestone payment from Novo Nordisk in December 2022 for advancement of NNC6019 in a Phase 2 study.
Advanced Alzheimer’s Disease portfolio, including FDA clearance for IND application and Fast Track designation for PRX012.
Strengthened leadership position in the amyloidosis community with ongoing enrollment of the confirmatory Phase 3 AFFIRM-AL study of birtamimab.
Prothena
Prothena
Prothena Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
The Company expects the full year 2023 net cash used in operating and investing activities to be $213 to $229 million and expects to end the year with approximately $512 million in cash, cash equivalents and restricted cash (midpoint).