Business
Prothena Reports Fourth Quarter and Full Year 2021 Financial Results, and Provides Financial Guidance and Business Highlights
Net cash used in operating and investing activities was $22.8 million in the fourth quarter and net cash provided by operating and investing activities was
About this update from Prothena Corporation Plc
[{"type":"text","content":"Net cash used in operating and investing activities was $22.8 million in the fourth quarter and net cash provided by operating and investing activities was $92.0 million for the full year 2021; quarter-end cash and restricted cash position was $580.4 million Reached SPA agreement with FDA at p≤0.10 for confirmatory Phase 3 study of birtamimab and initiated the study in Mayo Stage IV patients with AL amyloidosis Received $80 million option payment from Bristol Myers Squibb for U.S. license to PRX005 for the treatment of Alzheimer’s disease; initiated Phase 1 study Novo Nordisk acquired ATTR amyloidosis business for up to $1.23 billion; includes $60 million upfront payment receivedReceived $60 million milestone from Roche for first patient dosed in Phase 2b study of prasinezumab in patients with early Parkinson’s diseasePresented preclinical data at AAIC 2021 from two Alzheimer’s disease programs: PRX012, a next-generation anti-Aβ antibody, and the dual Aβ/tau vaccine DUBLIN, Ireland, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Prothena 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 fourth quarter and full year 2021. In addition, the Company provided 2022 financial guidance and an update on business highlights. “Prothena made meaningful progress in multiple therapeutic indications across our portfolio in 2021 with the advancement of three clinical stage programs. We announced the initiation of the confirmatory Phase 3 AFFIRM-AL study of birtamimab, Phase 2b PADOVA study of prasinezumab, and Phase 1 study of PRX005. Additionally, we presented positive preclinical findings for our anti-Aβ PRX012 and our dual Aβ/tau vaccine at AAIC in June last year,” said Gene Kinney, Ph.D., President and Chief Executive Officer of Prothena. “In 2021, we also received $200 million from strategic partnerships with leading pharmaceutical companies and bolstered our cash position with $175 million raised through equity offerings. In 2022, we look forward to multiple scientific congresses starting with the presentation of additional preclinical data at AD/PD in March. Our strong capital position funds Prothena through multiple value-creating milestones as we transition into a fully integrated commerc...