Business
Prothena Reports First Quarter 2023 Financial Results and Business Highlights
Net cash used in operating and investing activities was $47.5 million in the first quarter of 2023; quarter-end cash and restricted cash position was $688.4
About this update from Prothena Corporation Plc
[{"type":"text","content":"\n\nNet cash used in operating and investing activities was $47.5 million in the first quarter of 2023; quarter-end cash and restricted cash position was $688.4 million\n\n\n\nData reported in an oral presentation at AD/PD 2023 that PRX012, a potential best-in-class anti-amyloid beta antibody, demonstrated higher affinity binding to amyloid beta soluble protofibrils and greater clearance of pyroglutamate-modified amyloid beta plaques compared to other approved and investigational molecules\n\n\n\nTopline data reported from Phase 1 SAD study of PRX005, a novel anti-MTBR-tau antibody, meeting the primary study objective\n\n\n\n DUBLIN--(BUSINESS WIRE)--\nProthena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, today reported financial results for the first quarter of 2023 and provided business highlights.\n\n\n“Recent positive clinical study results and FDA approvals have now established that reduction of amyloid beta plaque is directly related to clinical benefit. These results are positive for the Alzheimer’s disease community, especially for the patients, families and caregivers who fight everyday against this devastating disease. Prothena is committed to furthering these efforts by developing patient-centric, next-generation Alzheimer’s disease treatments,” said Gene Kinney, Ph.D., President and Chief Executive Officer, Prothena. “We showcased our potential best-in-class Alzheimer’s disease portfolio in the first quarter of 2023 with new preclinical data presented at AD/PD which adds to the scientific foundation for our PRX012 program. These data demonstrated higher affinity binding to amyloid beta soluble protofibrils and greater clearance of pyroglutamate-modified amyloid beta plaques compared to other approved and investigational molecules. In addition, we released topline data from the Phase 1 SAD study of PRX005 which demonstrated that single doses of PRX005 across three dose cohorts were generally safe and well tolerated.\n\n\n“We look forward to making meaningful advances in our Alzheimer’s disease portfolio this year. We also continue to focus on enrolling our confirmatory Phase 3 AFFIRM-AL study of birtamimab, the first potential therapy to observe a significant survival benefit in patients with ...