PRTA News & Events

The company states: "Prothena (PRTA) announced that the Company earned a $50 million milestone payment from Novo Nordisk (NVO) related to the achievement of a prespecified enrollment target in the ongoing Phase 3 CLEOPATTRA clinical trial evaluating coramitug, a potential first-in-class amyloid depleter antibody, for the treatment of ATTR amyloidosis with cardiomyopathy. Novo Nordisk is evaluating coramitug in the ongoing Phase 3 CLEOPATTRA clinical trial in approximately 1280 participants with ATTR-CM with primary completion expected in 2029."

Prothena (PRTA) had cash, cash equivalents and restricted cash of $308.4M and no debt as of December 31, 2025. Excluding any potential purchases under its share repurchase plan, Prothena expects to end the year with approximately $255M in cash, cash equivalents, and restricted cash. This financial guidance does not include the potential to earn up to $105M of aggregate clinical milestone payments from strategic partners in 2026 related to the advancement of both coramitug for ATTR amyloidosis with cardiomyopathy by Novo Nordisk (NVO) and PRX019 for neurodegenerative diseases by Bristol Myers Squibb (BMY).

Prothena announced that its Board of Directors has authorized a Share Repurchase Plan under which the company may repurchase up to $100M of the company's outstanding ordinary shares.

The Company expects its full year net cash used in operating and investing activities to be $50 to $55 million and to end the year with approximately $255 million (midpoint) in cash, cash equivalents, and restricted cash. The estimated full year 2026 net cash used from operating and investing activities is primarily driven by an estimated net loss of $67 to $72 million, which includes an estimated $24 million of non-cash share-based compensation expense. This financial guidance does not include the potential to earn up to $105 million of aggregate clinical milestone payments from strategic partners in 2026 related to the advancement of both coramitug for ATTR amyloidosis with cardiomyopathy by Novo Nordisk and PRX019 for neurodegenerative diseases by Bristol Myers Squibb. "In 2025, our partner Roche initiated the Phase 3 PARAISO clinical trial evaluating prasinezumab in early Parkinson's disease and Novo Nordisk initiated the Phase 3 CLEOPATTRA clinical trial evaluating coramitug in ATTR amyloidosis with cardiomyopathy, both with primary completions expected in 2029. In addition, we expect our partner Bristol Myers Squibb to decide on the potential advancement of PRX019 in 2026 and to complete the ongoing Phase 2 TargetTau-1 clinical trial evaluating BMS-986446 in early Alzheimer's in 1H 2027. These partnered programs have the potential to earn up to approximately $3 billion in future aggregate milestones in addition to potential future royalties," said Gene Kinney, Ph.D., President and Chief Executive Officer, Prothena. "We also unveiled our proprietary CYTOPE(R) technology with presentations at scientific congresses highlighting preclinical data from our TDP-43 CYTOPE(R) program. In addition, we are evaluating PRX012-TfR, our once-monthly, subcutaneous anti-Abeta antibody combined with transferrin receptor technology for the treatment of Alzheimer's in preclinical studies. We expect to share more data from our preclinical programs later this year."