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Prothena Reports Second Quarter 2026 Financial Results and Business Highlights

PRTA
  • Net cash used in operating and investing activities was $25.7 million in Q2 2026, while net cash provided by these activities was $3.2 million for the first six months of 2026.
  • Quarter-end cash, cash equivalents, and restricted cash totaled $289.1 million as of June 30, 2026, with no debt.
  • Guidance was updated to reflect $22.3 million in share repurchases through July 30, 2026, resulting in a projected year-end cash balance of approximately $259 million (midpoint).
  • Roche published Phase 2b PADOVA trial results for prasinezumab in early Parkinson's disease in The Lancet, supporting its potential as a disease-modifying therapy.
  • Roche is conducting the Phase 3 PARAISO trial for prasinezumab with primary completion expected in 2029; Novo Nordisk is running the Phase 3 CLEOPATTRA trial for coramitug with primary completion expected in 2029.
  • Bristol Myers Squibb is conducting the Phase 2 TargetTau-1 trial for moponetug in early Alzheimer's disease with primary completion expected in the first half of 2027.
  • Prothena reported a net loss of $18.6 million for Q2 2026 and net income of $14.1 million for the first six months of 2026.
  • Total revenue was $1.0 million for Q2 2026 and $52.1 million for the first six months of 2026, driven primarily by a $50.0 million milestone payment from Novo Nordisk.
  • Research and development expenses decreased to $8.8 million for Q2 2026 and $21.4 million for the first six months of 2026 compared to prior year periods.
  • General and administrative expenses totaled $10.9 million for Q2 2026 and $23.6 million for the first six months of 2026.
  • Multiple research collaborations are ongoing to explore CYTOPE technology potential over the next 12 to 24 months.
  • Prothena repurchased an aggregate of 2,243,888 ordinary shares for $22.3 million during the first half of 2026 under its $100.0 million share repurchase program.
  • Approximately 51.3 million ordinary shares were outstanding as of July 30, 2026.
  • Partnered programs could generate up to approximately $3 billion in aggregate future milestone payments plus potential royalties.
  • Prothena expects full year 2026 net cash used in operating and investing activities to be between $18 million and $23 million.