Business
Prothena Reports Second Quarter 2020 Financial Results and Provides R&D Update
Net cash used in operating and investing activities was $18.7 million in the second quarter and $41.9 million for the first six months of 2020; quarter-end
About this update from Prothena Corporation Plc
[{"type":"text","content":"Net cash used in operating and investing activities was $18.7 million in the second quarter and $41.9 million for the first six months of 2020; quarter-end cash and restricted cash position of $336.6 million provides funding to advance a broad pipeline DUBLIN, Ireland, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Prothena Corporation plc (NASDAQ:PRTA), a clinical-stage company with expertise in protein dysregulation and a diverse pipeline of investigational therapeutics for neurodegenerative and rare peripheral amyloid diseases, today reported financial results for the second quarter and first six months of 2020. In addition, the Company provided an update on its R&D programs.\n “We continue to expect multiple clinical data read-outs later this year across our pipeline,” said Gene Kinney, Ph.D., President and Chief Executive Officer of Prothena. “New data from Part 1 of the Phase 2 prasinezumab study (PASADENA) in Parkinson’s disease, being conducted by Roche will be presented in an oral presentation next month at the Movement Disorders Society congress, and additional data from our Phase 1 study of PRX004 in ATTR amyloidosis are expected in the fourth quarter. In addition, we are making excellent progress on our early-stage pipeline targeting a range of neurological indications and look forward to sharing preclinical data from programs in our Alzheimer’s disease portfolio later this year.” Second Quarter Research and Development Updates and Upcoming Milestones Prasinezumab (PRX002/RG7935), a potential treatment for Parkinson’s disease, is a monoclonal antibody designed to target alpha-synuclein and is the focus of the worldwide collaboration with Roche Part 1 of the Phase 2 PASADENA study in patients with early Parkinson’s disease (N=316), being conducted by Roche, is complete. Results from Part 1 of the study have been selected as an oral Top Abstract presentation at the upcoming virtual International Congress of Parkinson’s Disease and Movement Disorders Society (MDS) on September 14, 2020.The 52-week blinded extension of the study (Part 2 of the Phase 2 PASADENA Study) is ongoing. COVID-19 has caused some participants to miss assessments in Part 2 of the study. Mitigation efforts have been put in place to ensure patient safety, and the situation is improving in most geographies. Roche continues to monitor the situation carefully to min...