Business
Prothena Reports Fourth Quarter and Full Year 2020 Financial Results, and Provides Financial Guidance and R&D Update
Net cash used in operating and investing activities was $19.1 million in the fourth quarter and $80.6 million for the full year 2020; quarter-end cash and
About this update from Prothena Corporation Plc
[{"type":"text","content":"Net cash used in operating and investing activities was $19.1 million in the fourth quarter and $80.6 million for the full year 2020; quarter-end cash and restricted cash position of $298.1 million provides funding to advance the R&D pipeline Announced confirmatory Phase 3 AFFIRM-AL study of birtamimab in Mayo Stage IV patients with AL amyloidosis under SPA agreement with FDA at p≤0.10 Reported significantly reduced decline in motor function in Phase 2 study of prasinezumab in Parkinson’s disease Reported improvements in neuropathy and cardiac function in Phase 1 study of PRX004 in ATTR amyloidosis DUBLIN, Ireland, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical company with expertise in protein dysregulation and a pipeline of investigational therapeutics for rare peripheral amyloid and neurodegenerative diseases, today reported financial results for the fourth quarter and full year 2020. In addition, the Company provided 2021 financial guidance and an update on its R&D programs. “We continue to see positive momentum in our pipeline with the recent announcement of the confirmatory, registration-enabling Phase 3 AFFIRM-AL study of birtamimab in AL amyloidosis and positive clinical findings reported in 2020 from both the Phase 2 study of prasinezumab in Parkinson’s disease and Phase 1 study of PRX004 in ATTR amyloidosis,” said Gene Kinney, Ph.D., President and Chief Executive Officer of Prothena. “We are particularly pleased that our unique protein dysregulation platform has now resulted in the translation of our preclinical findings into clinical benefit for patients across multiple programs in our portfolio. We look forward to a number of significant milestones in 2021, with the planned initiation of 3 late-stage clinical studies, including the birtamimab AFFIRM-AL study, the prasinezumab Phase 2b study and the PRX004 Phase 2/3 study. In addition to these late-stage programs, we have also advanced the three targets under our global neuroscience collaboration with Bristol-Myers Squibb and expect to file an IND for PRX005 this year. Our strong cash position and potential partner payments provide a foundational capital position to fund the company through value-creating milestones as we transition to a fully integrated commercial company.” Full Year 2020 and Recent Developments: Birta...