Business
Prothena Reports Fourth Quarter and Full Year 2022 Financial Results, and Provides Financial Guidance and Business Highlights
Net cash used in operating and investing activities was $5.1 million in the fourth quarter and $109.3 million for the full year of 2022; quarter-end cash and
About this update from Prothena Corporation Plc
[{"type":"text","content":"\n\nNet cash used in operating and investing activities was $5.1 million in the fourth quarter and $109.3 million for the full year of 2022; quarter-end cash and restricted cash position was $712.6 million\n\n\n\nAdvanced potential best-in-class Alzheimer’s Disease portfolio in 2022: received FDA clearance for IND application and Fast Track designation granted for PRX012, an investigational anti-Aβ antibody therapy; initiated Phase 1 SAD and MAD study for PRX012; completed Phase 1 SAD and initiated MAD study for PRX005, an investigational tri-epitopic antibody that specifically binds within the MTBR-tau\n\n\n\nStrengthened leadership position in the amyloidosis community with the ongoing enrollment of the confirmatory Phase 3 AFFIRM-AL study of birtamimab in patients with Mayo Stage IV AL amyloidosis and multiple 2022 scientific publications and presentations, including data presented at ASH\n\n\n\nReceived $40 million milestone payment from Novo Nordisk in December 2022 for advancement of NNC6019 (formerly PRX004) in a Phase 2 study for potential treatment of ATTR cardiomyopathy\n\n\n\nRaised net proceeds of $172.4 million in December 2022 through an underwritten public follow-on offering of 3,250,000 ordinary shares\n\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 fourth quarter and full year 2022. In addition, the Company provided 2023 financial guidance and business highlights.\n\n“In 2022 we meaningfully advanced our protein dysregulation portfolio as we continue our transition to a fully integrated commercial company. The foundation we established in 2022 has positioned the next 24 months as a transformational period for Prothena, with many significant clinical milestones expected across six different programs in areas of high unmet patient need,” said Gene Kinney, Ph.D., President and Chief Executive Officer Prothena. “For PRX012, we received clearance from the FDA for our IND application and Fast Track designation was granted. We also initiated the Phase 1 SAD and MAD study for PRX012 and completed the Phase 1 SAD and initiated the MAD study for PRX005. Additionally, we presented key data on birtamimab and PRX123 ...